Ethereum

Future

Gary

Following Donald Trump’s recent election victory, ConsenSys CEO Joe Lubin expressed optimism for Ethereum future, suggesting that the protocol may see benefits from potential regulatory shifts.
Speaking at Devcon 2024 in Thailand, Lubin highlighted the challenges Ethereum has faced from U.S. regulatory bodies, particularly under the SEC’s leadership. “We’ve been living in a gas-lit world for a long time, generously gas-lit by the SEC,” Lubin said, underscoring how political dynamics have impacted the crypto space.
In recent months, ConsenSys had to reduce its workforce by 20%, which Lubin partially <a href="https://consensys.io/blog/consensys-path-to-long-term-sustainability-and-decentralization" rel="noopener noreferrer nofollow">attributed</a> to the “abuse of power” by the SEC.
<h2 id="span-style-font-weight-400-ether-s-market-rebound-span">Ether’s Market Rebound</h2>
Lubin noted <a href="https://thecoinrise.com/ethereum-price-sparks-bullish-momentum-as-trump-wins-u-s-election/" rel="noopener noreferrer nofollow">Ethereum’s significant market rebound post-election</a>, with Ether’s price rising 23% over the past week to reach $3,200, according to CoinMarketCap <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">data</a>. He attributes this surge to growing investor confidence in Ethereum’s future, as well as hopes that Trump’s presidency could bring regulatory relief.
“Ethereum is poised to benefit more than other protocols, particularly because of its size and maturity,” Lubin commented, adding that Bitcoin, while established, lacks crypto’s broad ecosystem capabilities. Data from Farside shows Ether ETFs saw record inflows of $295 million on November 11, hinting that investors may also be betting on a regulatory reprieve for Ether.
<h2 id="span-style-font-weight-400-investors-pour-funds-into-ethereum-etfs-span">Investors Pour Funds Into Ethereum ETFs</h2>
Since Trump’s election, a renewed interest in Ethereum-focused financial products has taken shape, with Farside data recording a <a href="https://thecoinrise.com/ether-etfs-hit-record-breaking-inflows-amid-market-surge/" rel="noopener noreferrer nofollow">massive inflow into spot Ethereum ETFs</a>. While Bitcoin ETFs have led the way, Ether funds are starting to attract significant capital. This influx indicates that many investors are anticipating an easing of SEC scrutiny under new leadership.
Lubin is hopeful that Trump’s administration will bring a more favorable approach to crypto regulations, noting that ConsenSys and other blockchain firms have long urged for regulatory clarity. An open letter from ConsenSys published in October appealed to the next U.S. administration for straightforward and supportive regulations, stating that existing policies have created uncertainty and deterred technological innovation.
<h2 id="span-style-font-weight-400-possible-sec-transition-on-the-horizon-span">Possible SEC Transition on the Horizon</h2>
Lubin speculates that current SEC Chair <a href="https://thecoinrise.com/bitcoin-2024-conference-trump-pledges-to-fire-sec-chair-gary-gensler/" rel="noopener noreferrer nofollow">Gary Gensler may step down on Trump’s inauguration day</a>, January 20. He hopes Mark Uyeda, a current SEC commissioner, might take over temporarily, possibly leading to a more accommodating stance toward Ethereum and other decentralized technologies.
Reflecting on the coming months, Lubin expressed his desire for a smooth transition at the SEC, stating, “Hopefully, they won’t try to jam up a lot of people and companies before they exit.”
The post <a href="https://thecoinrise.com/ethereum-future-brightens-as-trump-raises-hopes-for-easy-regulatory-consensys-ceo/" rel="noopener noreferrer nofollow">Ethereum Future Brightens as Trump Raises Hopes for Easy Regulatory: ConsenSys CEO</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Ethereum Future Brightens as Trump Raises Hopes for Easy Regulatory: ConsenSys CEO

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