This might be worth a read. It is about a shitcoin, but still.
quotingNEW ARTICLE
note1uly…lzqj
The Chain of Consensus: The Cartel Behind The Blockchain
While often pitched as decentralized, the key infrastructure upholding consensus on Ethereum has been dollarized by stablecoin issuers. These same entities, in addition to the currency speculators behind Block.One, were willing partners in the set up and take down of Terra-LUNA and FTX.
https://unlimitedhangout.com/2024/09/investigative-series/the-chain-of-consensus-the-cartel-behind-the-blockchain/