Qiao Wang is well-known in the cryptocurrency community. Long a force to be reckoned with as an investor and Alliance DAO founder, his recent choice to sell his entire Ethereum (ETH) holdings after a ten-year investment, however, surprised many. This decision reflects the mindset of an investor who believes he is constantly one step ahead, rather than a simple sell-off.
How did a former Wall Street quantitative trader transition to blockchain? And why is he so certain that Ethereum is not where the future of crypto resides? His journey is marked by significant changes, difficult decisions, and the bravery to face an ever-shifting sector.
Leaving Wall Street for the Future of Blockchain
Qiao Wang began his career in a field other than cryptocurrency. He was a Wall Street quantitative trader before becoming a household name in the industry. The traditional world of finance provided him with valuable experience—data analysis, market prediction, and precise risk management. However, the inflexible and exclusive financial system made him feel imprisoned.
In contrast, the new blockchain technologies presented something different: decentralization, openness, and freedom. For Wang, this was a revolution rather than just an evolution. This is why he ultimately decided to venture into the crypto sector, leaving the comfort of traditional finance behind.
This transition carried risks. Many of his contemporaries viewed his actions as reckless and overly bold. Nevertheless, Wang was resolute in his conviction: he wanted to lead the way if blockchain could disrupt the global financial system.
Alliance DAO: Building the Future of Web3
Once in the crypto space, Wang did not only act as an investor but also developed an ecosystem for blockchain-based businesses. Establishing Alliance DAO, an accelerator that supports Web3 developers and entrepreneurs, was one of his most significant initiatives.
Startups within this community not only gain access to a vast network in the crypto sector but also receive mentorship from professionals and financial support. Wang believes that the future of Web3 is about creating an equitable and transparent system for everyone, rather than merely focusing on digital currency.
Moreover, Wang actively supports initiatives with anti-authoritarian values, including the development of decentralized VPNs, encrypted messaging, and freer internet services. According to him, blockchain is a tool to combat government censorship and excessive control, as well as a financial instrument.
Still, amid all his enthusiasm for cryptocurrency, the community has significant concerns regarding his controversial decision to sell all his Ethereum.
Why Did Qiao Wang Sell All His Ethereum?
As someone who has held Ethereum since the genesis block, Wang’s decision to sell all his ETH has surprised many. Is this a sign that Ethereum has reached its peak?
Wang asserts that Ethereum has limitations in terms of scalability. Even though many solutions like Layer 2 have been developed, he observes that Ethereum’s advantages over its competitors are diminishing. For instance, Solana offers lower fees and faster transactions—qualities Wang believes will be more appealing to new developers and users.
“Ethereum Layer 2 does exist, but its advantages over other alternatives are no longer that significant,” he remarked in an online discussion.
He also emphasized that while many developers wishing to migrate from Ethereum to Solana find the transition worthwhile, others face a steep learning curve. Solana’s more efficient ecosystem is more attractive for developing blockchain-based technologies.
However, Wang does not dismiss any advancements in Ethereum. Although he still appreciates the network’s contributions to the sector, as an investor, he sees better prospects elsewhere.