{"id":60955,"date":"2023-09-14T12:33:30","date_gmt":"2023-09-14T16:33:30","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/despite-crypto-market-rout-in-the-us-clear-heads-will-prevail-says-ethereum-co-founder\/"},"modified":"2023-09-14T12:33:34","modified_gmt":"2023-09-14T16:33:34","slug":"despite-crypto-market-rout-in-the-us-clear-heads-will-prevail-says-ethereum-co-founder","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60955","title":{"rendered":"Despite Crypto Market Rout in the US, \u201cClear Heads Will Prevail,\u201d Says Ethereum Co-Founder"},"content":{"rendered":"<div>\n<p style=\"text-align:justify;\">Joseph Lubin, the co-founder of Ethereum and the CEO of blockchain firm ConsenSys, is optimistic about crypto adoption in the US, similar to embracing \u201cprevious technologies like the internet.\u201d<\/p>\n<p style=\"text-align:justify;\">In a recent interview on CNBC\u2019s \u2018Capital Connection,\u2019 he said that \u201cclear heads will prevail\u201d in the industry, despite the ongoing turmoil and regulatory uncertainties.<\/p>\n<blockquote>\n<p style=\"text-align:justify;\">\u201cI anticipate that, with previous technologies like the internet, the web and cryptography, clear heads will prevail. America will see that decentralized protocols, blockchain, cryptocurrency are aligned with the philosophies of the U.S. And I think much of the rest of the world will follow suit.\u201d<\/p>\n<\/blockquote>\n<p style=\"text-align:justify;\">Lubin\u2019s remarks come at a time when digital asset platforms including Binance and Coinbase are facing allegations from the US regulator for offering unregistered securities and a slew of other charges.<\/p>\n<h2 style=\"text-align:justify;\">\u201cEther is a Commodity\u201d<\/h2>\n<p style=\"text-align:justify;\">The US Securities and Exchange Commission (SEC) under Chair Gary Gensler is viewing most tokens as securities, however, a year-long battle between Ripple Labs and the SEC over the nature of Ripple\u2019s XRP token concluded in July, confirming that XRP is not a security when sold to the general public.<\/p>\n<p style=\"text-align:justify;\">Referring to Gensler\u2019s remarks, Lubin said that crypto assets really need to be demonstrated to be a security. \u201cHe can\u2019t just make that pronouncement,\u201d Lubin added.<\/p>\n<p style=\"text-align:justify;\">He also stood by his stance on calling Ether (ETH) a \u201ccommodity.\u201d In March, Lubin made a statement, saying that Ether is more akin to a commodity like oil.<\/p>\n<blockquote>\n<p style=\"text-align:justify;\">\u201cI stand by my conviction that ether is a commodity.\u201d<\/p>\n<\/blockquote>\n<p style=\"text-align:justify;\">Further, Lubin believes that \u201cclear heads\u201d in the crypto industry would prevail amid a crackdown on crypto companies. He said that the US still remains an example for a lot of countries.<\/p>\n<blockquote>\n<p style=\"text-align:justify;\">\u201cThe U.S. has a lot of influence on the world through financial intermediaries and other intermediaries, and decentralized protocol technology is about right sizing and eliminating intermediaries in many ways. The U.S. is also all about free markets, capitalism, free speech.\u201d<\/p>\n<\/blockquote><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/despite-crypto-market-rout-in-the-us-clear-heads-will-prevail-says-ethereum-co-founder.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joseph Lubin, the co-founder of Ethereum and the CEO of blockchain firm ConsenSys, is optimistic about crypto adoption in the US, similar to embracing \u201cprevious technologies like the internet.\u201d In a recent interview on CNBC\u2019s \u2018Capital Connection,\u2019 he said that \u201cclear heads will prevail\u201d in the industry, despite the ongoing turmoil and regulatory uncertainties. \u201cI [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":60956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-60955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Despite Crypto Market Rout in the US, \u201cClear Heads Will Prevail,\u201d Says Ethereum Co-Founder | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Joseph Lubin, the co-founder of Ethereum and the CEO of blockchain firm ConsenSys, is optimistic about crypto adoption in the US, similar to embracing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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