Author of the opinion: Houston Morgan, Head of Growth and Business Development at ShapeShift
Cryptocurrency was never meant to be like this. The promise is decentralization, autonomy, and the end of gatekeeping. Yet too many cryptocurrency companies still idolize individuals and momentum rather than implementing fair governance and structure.
The irony is evident. A movement aimed at eliminating centralized failure points or control repeatedly gets messed up by its own leadership. The same story plays out over and over, from exchange founders being treated as visionaries to DeFi builders manipulating token votes for personal gain. The influence of one person is allowed to transcend the system. When that person wavers, everything collapses.
Excessive control creates a dangerous feedback loop. Investors flood in, not because the system is resilient, but because they believe in the leaders. Their psychological model of the world becomes the project.
We have seen this dynamic before. Traditional finance, politics, and even celebrity worship reveal the same pattern—once power is concentrated, failure becomes inevitable. Cryptocurrency was supposed to be different. Instead, many projects have recreated the hierarchies they originally aimed to destroy, only with less oversight, weaker guardrails, and lower efficiency.
A decentralized system that relies on a single individual is inherently contradictory; it provides an easy means of control for the ruling class. The silent majority should remember: cut off the head of the snake, and the body will die.
This is where DAOs show real promise. Proper decentralized autonomous organizations are not just about flattening hierarchies; they replace hierarchy with ownership. They replace cults of personality with a culture of contribution.
When governance is shared and decision-making is open, the community can grow beyond reliance on a single leader. It’s not one figurehead driving the narrative, but dozens or even hundreds of contributors taking leadership roles in their own domains. No bosses. No center. Just builders.
DAOs are effective because contributors see them as their own. After all, they truly are. Every person who shows up and contributes is, in fact, a leader in their own right. Yes, it can be chaotic, and coordinating a vision without a top-down boss is challenging. Consensus takes time. But the benefits are immense: shared ownership, stakeholders, and a community built on belief in the mission rather than the myth of the founder.
True decentralization does not mean no leaders. It means more leaders.
The temptation to elevate charismatic figures is understandable. Humans are inherently more likely to follow stories than spreadsheets. A vibrant founder provides a simple focal point for media, investors, and the community. This shortcut comes with consequences.
When the myth of the founder becomes more powerful than the strength of the protocol, cracks begin to form. Projects stagnate, waiting for the leader's blessing. When leaders are questioned, the community fractures. When they inevitably exit the stage, whether through scandal, burnout, or politics, the project becomes hollow.
Cryptocurrency does not need more heroes. It needs resilient systems that can survive without them.
This message is urgent in any case, but 2025 makes it a matter of life and death. The return of Donald Trump to the White House sharpens the knife-edge of cryptocurrency balance. His administration has signaled that cryptocurrency will be seen as both a tool and a target: embraced when politically convenient, but crushed when it threatens vested interests.
This dynamic makes the worship of leadership in cryptocurrency uniquely dangerous. Centralized control provides centralized targets. When a project’s life or death hinges on a single personality, a subpoena, a scandal, or a precise speech is enough to undermine legitimacy.
Decentralized governance makes it much harder for that kind of centralized political script to play out.
You cannot summon an entire community to Congress like you can drag a few figureheads before it. True DAOs may still face scrutiny, but their distributed responsibility and global nature give them a resilience that personal worship can never match. They provide continuity and stability in an industry that is ruthlessly exploited for its volatility.
This is a turning point. The industry must embrace decentralization in substance, not just rhetoric, or it will be reabsorbed into the traditional financial bubble, remembered only as an anarchic interlude in human history.
Cryptocurrency cannot have it both ways. It cannot continue to revolve around a cult of personality while claiming to challenge Wall Street, the International Monetary Fund (IMF), or Big Tech. Excessive personality may attract headlines, but it also brings fragility.
This is a critical moment for success or failure. The ruling class knows this. They have decades of experience crushing movements that rely on charismatic leaders. They are watching closely.
Satoshi's vision can only survive if the majority ultimately chooses to overthrow the minority. It is time to swiftly kill the cult of leadership.
Author of the opinion: Houston Morgan, Head of Growth and Business Development at ShapeShift.
Related: Opinion: The growth engine of Bitcoin (BTC) is losing momentum
This article is for general informational purposes only and is not intended as legal or investment advice. The views, thoughts, and opinions expressed here are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Original article: Opinion: Decentralized Autonomous Organizations (DAOs) Must Replace Cryptocurrency Cults of Personality
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