Joe Lubin Sees Trump’s Victory as a Boon for Ethereum

Ethereum could benefit more from Donald Trump’s victory in the US presidential election than any other protocol, according to Joseph Lubin, founder and CEO of ConsenSys, in an interview with Cointelegraph.

The executive attributed his view to the anticipated change in leadership at the SEC, whose current policies have “hindered” Ethereum’s development.

“America has kept its boot on Ethereum’s neck for quite some time,” Lubin explained.

The expert attributed the potential maximum gain for the ecosystem of the second-largest cryptocurrency by market capitalization to its greater “maturity” compared to its competitors. The only exception, he noted, is Bitcoin, which is more “narrow in its scope.”

Lubin expressed hope that Commissioner Mark Uyeda would lead the agency.

In October, ConsenSys announced plans to lay off 160 employees as part of business optimization amid regulatory uncertainty in the US crypto industry and costs related to legal battles with the SEC.

Back in June, ConsenSys secured the termination of the Commission’s investigation into Ethereum’s potential status as a security through the courts.

However, a counterclaim against the agency’s complaint was dismissed in September.