Crypto ecosystem “never been stronger”: ETH co-founder

28 Mar 2023

The co-founder of Ethereum, Joseph Lubin talked about the crypto ecosystem, regulation and all things Ether during a recent interview with CNBC.

“The strength of our ecosystem has never been better or stronger,” he started out by saying. While going on to add: “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. “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 an alternative economy, essentially, they don’t leave. The speculators run in, and they run out, but the building has never been better.”

In regard to why the prices of the world’s two largest cryptocurrencies – Bitcoin and Ether – have been rising, he commented: “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,” reports.

Lubin also highlighted that the possibility of the US Federal Reserve hiking rates less aggressively in future has helped to boost crypto prices. “It’s an inflation hedge,” he said.

In addition, in terms of crypto regulation and the actions undertaken by the US Securities and Exchange Commission (SEC), the Ethereum co-founder went on to say: “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.”

He continued: “Money crypto absolutely should be regulated” and “Money crypto people issued tokens that are rightly seen as securities. 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.”

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