Ethereum Co-Founder Says Crypto Ecosystem Has Never Been Better or Stronger

0 8

Ethereum Co-Founder Says Crypto Ecosystem Has Never Been Better or Stronger

knife

Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained.

Ethereum’s Co-Founder on Crypto Ecosystem, Regulation


Ethereum co-founder Joseph Lubin discussed the state of the crypto ecosystem, regulation, and whether ether (ETH) is a security in an interview with CNBC last Wednesday.

“The strength of our ecosystem has never been better or stronger,” he began. While noting that “There are certainly headwinds — some microeconomic, financial headwinds — out in the world,” as well as “banking issues for a small number of companies” in the crypto space, he emphasized: “The sizes of the conferences that are going on in Paris and Denver and Los Angeles have never been bigger.” The Ethereum co-founder added:

Once the builders come into our ecosystem to build essentially an alternative economy, they don’t leave. The speculators run in and they run out, but the building has never been better.


Commenting on why the prices of bitcoin and ether have been rising, he said: “Because they’re sound. Bitcoin is sound money. Ether is ultrasound money … the development, the use cases, the usability, the scalability in the Ethereum ecosystem — it’s never been better. It’s accelerating.” Lubin also noted that the possibility of the Federal Reserve hiking interest rates less aggressively in the future has helped boost the prices of cryptocurrencies. “It’s an inflation hedge,” he stressed.

Regarding cryptocurrency regulation and the aggressive enforcement actions by the U.S. Securities and Exchange Commission (SEC), the Ethereum co-founder opined:

I think more clarity, being more explicit would be helpful to our industry. I think our industry has suffered from having two major factions lumped into one: the money crypto faction … and the tech crypto faction, which is just building decentralized protocols infrastructure.


While noting that “Money crypto absolutely should be regulated” and “Money crypto people issued tokens that are rightly seen as securities,” he argued: “Tech crypto people are just technologists. We are just building infrastructure that the traditional economy can use, and our economy can use, and you don’t want to regulate innovation.”

Is Ether a Security?


Lubin also commented on regulators alleging that ether is a security. Responding to the claim made by the New York Attorney General in its lawsuit against crypto exchange Kucoin that ETH is a security, the Ethereum co-founder said: “Anybody can say anything, it doesn’t make it true.”

SEC Chairman Gary Gensler has stated several times that all crypto tokens besides bitcoin are securities “because there’s a group in the middle and the public is anticipating profits based on that group.” Lubin argued:

People buy barrels of oil with the expectation of profit.


When asked whether he is confident that ether is not a security, the Ethereum co-founder replied: “I don’t think there’s any point to speculate on something that is extremely unlikely.”

There are differing opinions among U.S. regulators about whether ether should be classified as a security. SEC Chair Gensler believes that ETH is a security, while the chairman of the Commodity Futures Trading Commission (CFTC) has stated multiple times that it is a commodity. However, both regulators agree that bitcoin is a commodity.

What do you think about the statements by Ethereum co-founder Joseph Lubin? Let us know in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 70,796.97
ethereum
Ethereum (ETH) $ 3,555.00
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 582.11
solana
Solana (SOL) $ 185.36
xrp
XRP (XRP) $ 0.632109
staked-ether
Lido Staked Ether (STETH) $ 3,542.53
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.219329
cardano
Cardano (ADA) $ 0.651691
avalanche-2
Avalanche (AVAX) $ 54.40
shiba-inu
Shiba Inu (SHIB) $ 0.000032
the-open-network
Toncoin (TON) $ 4.97
polkadot
Polkadot (DOT) $ 9.48
chainlink
Chainlink (LINK) $ 19.24
bitcoin-cash
Bitcoin Cash (BCH) $ 571.31
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 70,864.99
tron
TRON (TRX) $ 0.120187
uniswap
Uniswap (UNI) $ 12.34
matic-network
Polygon (MATIC) $ 1.00
internet-computer
Internet Computer (ICP) $ 17.69
near
NEAR Protocol (NEAR) $ 7.21
litecoin
Litecoin (LTC) $ 95.57
aptos
Aptos (APT) $ 17.18
leo-token
LEO Token (LEO) $ 6.03
blockstack
Stacks (STX) $ 3.42
dai
Dai (DAI) $ 0.998075
filecoin
Filecoin (FIL) $ 9.15
cosmos
Cosmos Hub (ATOM) $ 12.25
ethereum-classic
Ethereum Classic (ETC) $ 32.49
arbitrum
Arbitrum (ARB) $ 1.67
render-token
Render (RNDR) $ 11.24
immutable-x
Immutable (IMX) $ 2.94
crypto-com-chain
Cronos (CRO) $ 0.153044
stellar
Stellar (XLM) $ 0.13788
hedera-hashgraph
Hedera (HBAR) $ 0.117226
the-graph
The Graph (GRT) $ 0.412602
mantle
Mantle (MNT) $ 1.21
okb
OKB (OKB) $ 63.26
optimism
Optimism (OP) $ 3.69
fetch-ai
Fetch.ai (FET) $ 3.42
bittensor
Bittensor (TAO) $ 544.49
dogwifcoin
dogwifhat (WIF) $ 3.39
pepe
Pepe (PEPE) $ 0.000008
injective-protocol
Injective (INJ) $ 37.82
maker
Maker (MKR) $ 3,580.55
vechain
VeChain (VET) $ 0.04528
kaspa
Kaspa (KAS) $ 0.137047
thorchain
THORChain (RUNE) $ 9.28
theta-token
Theta Network (THETA) $ 2.92
fantom
Fantom (FTM) $ 0.997807
arweave
Arweave (AR) $ 41.63
lido-dao
Lido DAO (LDO) $ 2.90
floki
FLOKI (FLOKI) $ 0.000264
first-digital-usd
First Digital USD (FDUSD) $ 0.99867
gala
GALA (GALA) $ 0.066521
monero
Monero (XMR) $ 135.50
sui
Sui (SUI) $ 1.99
celestia
Celestia (TIA) $ 13.91
sei-network
Sei (SEI) $ 0.871516
algorand
Algorand (ALGO) $ 0.27346
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,928.06
flow
Flow (FLOW) $ 1.39
quant-network
Quant (QNT) $ 138.81
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,637.80
beam-2
Beam (BEAM) $ 0.035871
aave
Aave (AAVE) $ 126.09
bonk
Bonk (BONK) $ 0.000028
conflux-token
Conflux (CFX) $ 0.478324
bitcoin-sv
Bitcoin SV (BSV) $ 92.72
singularitynet
SingularityNET (AGIX) $ 1.42
wrapped-eeth
Wrapped eETH (WEETH) $ 3,686.98
jupiter-exchange-solana
Jupiter (JUP) $ 1.26
starknet
Starknet (STRK) $ 2.28
elrond-erd-2
MultiversX (EGLD) $ 61.17
havven
Synthetix Network (SNX) $ 4.91
dydx-chain
dYdX (DYDX) $ 3.45
axie-infinity
Axie Infinity (AXS) $ 11.17
the-sandbox
The Sandbox (SAND) $ 0.691282
bittorrent
BitTorrent (BTT) $ 0.000002
ribbon-finance
Ribbon Finance (RBN) $ 1.61
bitget-token
Bitget Token (BGB) $ 1.03
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,578.58
ethena-usde
Ethena USDe (USDE) $ 1.00
worldcoin-wld
Worldcoin (WLD) $ 8.48
tezos
Tezos (XTZ) $ 1.39
mina-protocol
Mina Protocol (MINA) $ 1.26
pyth-network
Pyth Network (PYTH) $ 0.903119
ondo-finance
Ondo (ONDO) $ 0.916588
ecash
eCash (XEC) $ 0.000066
flare-networks
Flare (FLR) $ 0.03555
ordinals
ORDI (ORDI) $ 62.25
ronin
Ronin (RON) $ 4.20
apecoin
ApeCoin (APE) $ 2.02
chiliz
Chiliz (CHZ) $ 0.142219
decentraland
Decentraland (MANA) $ 0.669616
axelar
Axelar (AXL) $ 2.04
akash-network
Akash Network (AKT) $ 5.35
gatechain-token
Gate (GT) $ 9.30
eos
EOS (EOS) $ 1.07