12 Jun 2025

Gavin Wood: I hate suits and ties

A British programmer Gavin Wood rose to fame as a result of his contribution to the development of the Ethereum and Polkadot blockchains. Along with the fact that he was the first to participate in crypto charity to aid Ukraine in 2022.

Look at the photo of Gavin Wood to get an idea of what a blockchain developer who avoids project management positions looks like. He is a brilliant programmer, the inventor of the Solidity smart contract language, and a serial entrepreneur who also happens to be a terrible manager. The individual who entered the crypto space with the intention of building “one computer for the entire planet,” but who broke under the weight of crypto-maximalism and refused all managerial positions.

Gavin Wood. Source: Bloomberg

Gavin Wood. Source: Bloomberg

Gavin Wood is 42. He attended Royal Lancaster Grammar School before enrolling in the University of York, where he earned a Master of Engineering (MEng) degree in Computer Systems and Software Engineering. In addition, Gavin holds a Ph.D.

Wood isn't wed and doesn't have any kids. He keeps his personal life private. He never discusses his expenses or future plans.

However, there are some things that we are aware of:

● Hobbies: music and photography;

● Sports: black belt in Taekwondo;

● Scientific works: philosophy;

● Net worth: $450 million;

● Main sources of income: ETH and DOT;

● Charity: $5.8 million to Ukraine (March 2022).

Ethereum period

Wood began his career as a programmer and software security consultant at Microsoft. However, Gavin's meeting with Vitalik Buterin, who invited him to join a group aiming to “create something better than bitcoin,” marked the start of his journey into the world of cryptocurrencies.

He co-founded Ethereum along with Buterin, Hoskinson, Anthony Di Iorio, and Lubin.

Wood and the team saw Ethereum, which debuted in 2014, as a massive ecosystem with its own cryptocurrency. Users could create and modify digital products, including smart contracts. Wood described their goal at the time as “one computer for the entire planet.”

BTC supporters disliked this initiative. Gavin explained what has happened in an interview:

“When I started Ethereum in early 2014, there was a lot of bitcoin maximalism and there still is. It led to a very kind of toxic environment. At Ethereum, we were trying to push cryptocurrency blockchain technology forward. That was our key aim. We didn't have any ill will towards bitcoin. We were just technologists. At least, I speak for myself. I don't speak for anyone else necessarily. But we got a lot of hate from the bitcoin world, a lot of unneeded unreasonable skepticism and sometimes worse.”

It was almost like the crypto version of nationalism. It's like, “Well, I'm behind this team, and therefore I cannot be behind any other team. Any other team must be an enemy. And if you used to be part of our team, but now you're on this other team, you must be a traitor.” There's this kind of mentality.

Wood resigned from the company's founders due to this toxic environment and his disagreement with Buterin's choice to start a hard fork of the Ethereum network following the hack.

He informed employees that Ethereum has become yet another network competing for dominance in the oversaturated world of blockchains, and he does not wish to participate in this.

Gavin, nevertheless, continues to support and advise the Ethereum Classic developers. Even so, he occasionally claims that this project hasn't entirely avoided “crypto-nationalism.” He therefore set out to completely alter the blockchain's militant mentality, or at the very least to moderate it by allowing multiple chains.

Polkadot period

With math Ph.D. Jutta Steiner, Wood co-founded Parity Technologies, a software development company. Two years later, he co-founded the Web3 Foundation, which grants money to teams developing decentralized web technology. These two companies are behind the development of a new, one-of-a-kind parachain technology that connects various blockchains.

Gavin Wood put all his efforts to build a system that would serve as a bridge to other networks. A “patchwork of independent and isolated legal systems of the internet,” as he put it, was what he wanted to get rid of. A multichain Polkadot was launched in May 2020 by Wood and two other co-founders, Robert Habermeier and Peter Chaban. For Wood, this was a chance to start coding his own architecture from scratch and develop a brand-new, non-toxic version of Ethereum – a parachain that unites competing projects.

The project developed rapidly and attracted the attention of the crypto community. But Wood shocked everyone in October 2022 by announcing his resignation as CEO of Parity Technologies. This sparked a social media backlash, with the former CEO accused of making millions on DOT while abandoning people who trusted him during cryptocurrency's darkest days. Gavin, who is normally unflappable, reacted very emotionally to this by publishing a statement on the official website stating that, in general, he was not made for leadership positions and because of this he hates suits and ties. It is a pity for him to waste time on some rallies and discussions of potential partnerships. Coding is his line of work. Therefore, he remains the main architect of the parachain, and does not want to deal with financial and marketing issues and will not.

“The role of CEO has never been one which I have coveted (and this dates back long before Parity). I can act at being a CEO well enough for a short while, but it’s not where I’m going to find eternal happiness. A good CEO needs to be available to others on a far more continuous basis. They need to enjoy representing the company, both internally and externally. They need to not be bothered by large swathes of their time becoming eaten up in meetings and calls with a plethora of multicolored boxes on their calendar.”

Many regard Gavin Wood as an idealist because he has been closely associated with cryptocurrencies for 9 years, but he remains optimistic that a global system of social interaction “based on truth, not trust” can be created. He is confident that the Polkadot business model will be able to transform the blockchain industry, where projects compete with one another for the top spot rather than working together to advance the crypto economy.

We can only wish him luck from here on out.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
APS Drops €3M on Tokenized Real Estate in Italy—First-Ever Blockchain Deal

APS Drops €3M on Tokenized Real Estate in Italy—First-Ever Blockchain Deal

With €12B in assets under management, APS just closed its first tokenization deal, snapping up fractional shares of two Italian real estate assets via blockchain.

Anton Kryshtal
Demand for Circle Shares Pushes IPO Valuation to $6.9B

Demand for Circle Shares Pushes IPO Valuation to $6.9B

USDC stablecoin issuer Circle Internet Group launches its IPO on the NYSE, increasing the offering to 34 million shares at $31 each and raising around $1.1 billion.

Dmytro Psevdonimenko
Morning Digest: Key News on Ethereum Foundation, JPMorgan & the Fed

Morning Digest: Key News on Ethereum Foundation, JPMorgan & the Fed

JPMorgan weighs Bitcoin ETF-backed lending, Ethereum Foundation updates treasury strategy, Michelle Bowman appointed as Fed overseer. Details in the article.

Dmytro Psevdonimenko
Pakistan to Launch Bitcoin Reserve Using 2,000 MW of Excess Power

Pakistan to Launch Bitcoin Reserve Using 2,000 MW of Excess Power

Islamabad eyes a national Bitcoin reserve powered by 2,000 MW of surplus electricity—framing crypto as a hedge against inflation and macroeconomic volatility.

Anton Kryshtal
Robert Kiyosaki and the Debt-Fueled Prophecy

Robert Kiyosaki and the Debt-Fueled Prophecy

Robert Kiyosaki says the end is here. With $1.2B in U.S. debt and a $1M Bitcoin prediction, the Rich Dad author is turning collapse into his ultimate performance.

Elina Moskovchuk
Stani Kulechov and the Quiet Architecture of Web3 Ambition

Stani Kulechov and the Quiet Architecture of Web3 Ambition

Not loud, not flashy, but a quietly influential crypto builder. With Aave and Lens, Stani Kulechov designed the rails for a decentralized internet—one lending market, one social graph at a time.

Elina Moskovchuk
Who Is Scott Bessent? From Wall Street to Crypto Advocacy

Who Is Scott Bessent? From Wall Street to Crypto Advocacy

Soros ally, Wall Street billionaire, and crypto reform advocate at the helm of the U.S. Treasury—can Scott Bessent shift the rules of the crypto market?

Yara Zornell
Are Crypto IPOs Overhyped? A Closer Look at the Boom

Are Crypto IPOs Overhyped? A Closer Look at the Boom

Crypto IPOs are booming, driven by market optimism and clearer regulations. But are they a sign of industry maturity or just another wave of hype? We take a closer look.

Anahit Avetisyan
What Is Milady? Inside Ethereum’s Most Controversial NFT Cult 

What Is Milady? Inside Ethereum’s Most Controversial NFT Cult 

Milady is a prominent NFT collection often seen as social media profile pictures, but its complex story extends far beyond mere aesthetics.

Anahit Avetisyan
Strategic Bitcoin Reserve: What the U.S. Is Really Planning

Strategic Bitcoin Reserve: What the U.S. Is Really Planning

In March 2025, the U.S. officially announced a strategic Bitcoin reserve, becoming the first nation to incorporate a digital asset into its national reserve policy.

Vlad Vovk
What Is Aztec Network? 2025 Milestones and the Path to Mainnet

What Is Aztec Network? 2025 Milestones and the Path to Mainnet

Aztec is a privacy network on Ethereum, designed to allow developers to build privacy-focused decentralised applications without compromising transparency.

Anahit Avetisyan
zkEVM Explained: A New Way to Scale Ethereum Without Breaking It

zkEVM Explained: A New Way to Scale Ethereum Without Breaking It

Solving Ethereum’s congestion, zkEVM tech supports native bytecode and familiar dApps — but slashes gas fees, accelerates confirmation, and adds embedded privacy layers.

Vlad Vovk
Ethereum Layer 2 Solutions: Who’s Winning the Race for Mass Adoption in 2025?

Ethereum Layer 2 Solutions: Who’s Winning the Race for Mass Adoption in 2025?

In 2025, Ethereum Layer 2 solutions are in fierce competition. Which platform — Optimism, Arbitrum, or the emerging ZK-rollup stack — is best positioned for mainstream use?

Daryna Nesterenko
Bitcoin Price Crashes to $103K After China Ban and Trump’s Threats Roil Markets

Bitcoin Price Crashes to $103K After China Ban and Trump’s Threats Roil Markets

A double blow from China’s crypto crackdown and Trump’s trade threats caused Bitcoin price to plunge to $103K, sparking concern among investors.

Anton Kryshtal
Bitcoin Price Falls to $105K as Traders React to Tariff Confusion and Volatility

Bitcoin Price Falls to $105K as Traders React to Tariff Confusion and Volatility

With uncertainty clouding U.S. tariff rulings and speculative pressure mounting, Bitcoin price retreated to the $105,000 support mark.

Anton Kryshtal
MORE
Burnout in the Bull Run—Why Even Success in Crypto Can Be Dangerous

Burnout in the Bull Run—Why Even Success in Crypto Can Be Dangerous

Bull markets typically signal success. However, surging account balances often conceal burnout, anxiety, and shattered work-life boundaries.

Iaroslava Kramarenko
What Motivates Crypto Billionaires to Keep Working?

What Motivates Crypto Billionaires to Keep Working?

They’ve made billions — yet keep grinding 24/7. Why do crypto entrepreneurs, after building massive fortunes, choose to stay in the game, launching new ventures and donating to medicine and education?

Iaroslava Kramarenko
MORE