When Binance announced its Blockchain 100 list, it celebrated leading crypto innovators. The exchange praised winners for shaping blockchain education and development. Among them was Yonatan Sompolinsky, founder of Kaspa, known for the GHOSTDAG protocol and improving proof-of-work scalability.
Surprisingly, Sompolinsky declined the recognition. He also rejected the invitation to the award ceremony. This sparked discussion in the crypto community not just for the rejection, but for his reasons.
Sompolinsky’s Response to Binance
Sompolinsky said he appreciated being included. But he could not accept the award. He explained that the support came mostly from the Kaspa community. They voted not just for him, but for what Kaspa represents. He felt the community deserved recognition too.
He raised concerns about crypto drifting from its cypherpunk ideals. Today, he said, the space acts more like a “casino” than a movement for financial freedom. He did not blame Binance directly, but noted that large exchanges shape the ecosystem.
He also mentioned events like the October USDe oracle glitch. Centralized structures, he said, still influence markets. This shows why exchanges must use their power carefully.
@binance,
— Yonatan Sompolinsky (@hashdag) November 6, 2025
Thanks for including me in the top 100 blockchain people list, appreciate the signal!
I must decline the Dubai invite though. I do not wish to disrespect, but many of the award voters are avid kaspians who rooted for my kaspa status at least as much as for my… https://t.co/XYXcOSIe41 pic.twitter.com/pQZZCAeZ7X
Why Kaspa Deserves Recognition
Kaspa is a fast, fully decentralized proof-of-work network. The KAS token had a fair launch, with no pre-mines or early investor perks.
Sompolinsky said Binance lists many speculative tokens with little technical value. Yet it ignores Kaspa, which grew organically into a top-20 cryptocurrency with strong community support.
He shared a framework that divides crypto into three types: commercial, casino, and cypherpunk. Kaspa fits the cypherpunk category. It is guided by principles, not profits.
Sompolinsky suggested exchanges like Binance give more attention to such projects. He said their listing choices shape how people see “strong projects.” Listing speculative tokens quickly while ignoring long-standing, solid projects affects investors and the wider crypto narrative.
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Sompolinsky’s criticism was not an attack on Binance’s success. It was a challenge to its philosophy. He acknowledged listing fees and business models are legitimate. But these structures do not fit cypherpunk-class projects like Kaspa.
He urged Binance to support projects that value decentralization, fairness, and sustainability. These are the core principles of the crypto movement.
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