Ethereum co-founder Joseph Lubin believes that Wall Street’s involvement with decentralized finance (DeFi) and Ethereum will be as big as the Internet’s transformation of the old economy. He cited a change in the disposition of financial regulators against crypto companies. This amendment likely will be the start of creating a more positive climate for the industry.
Retweet on Twitter Lubin pointed out a major shift in the SEC’s attitude towards crypto companies. That’s a notable step back from the bull-in-a-china-shop approach favored during the entirety of the Biden administration by chairperson Gary Gensler.
In early June, Lubin noted Ethereum’s bullish price action, indicating a forthcoming Ethereum price rally was on the horizon. He further elaborated on the growing institutional interest in Bitcoin and Ethereum, namely their rising investments.
"They will be motivated to deep dive and learn what’s up with these strategies. They will have to deeply understand the details of Bitcoin and Ethereum and the strategies of MSTR and SBET. They will have do go deep on DeFi on Ethereum" - Joseph Lubin
Lubin believes that investors will need to explore deeply into DeFi on Ethereum to fully capitalize on the opportunities presented.
This time around, Lubin has seen a dramatic shift in the perception of builders between financial watchdogs. This change started under the Trump Administration. As far as Lubin can tell, this change is leading to more innovation in the space.
"The best and brightest builders are now entering the ecosystem to build on our tech without fear of politically motivated enforcement actions from the SEC and being debanked" - Joseph Lubin
