Crypto Momentum Cannot Be Stopped: Ethereum Co-Founder

ETHDenver, a gathering of crypto enthusiasts, witnessed Ethereum co-founder and ConsenSys CEO Joe Lubin expressing optimism about the current state of the digital asset market.

Lubin, in a fireside chat moderated by Axios reporter Crystal Kim this week, shared his insights on the ongoing “super cycle,” the potential impact of spot Bitcoin (BTC) and Ethereum (ETH) ETFs on retail investors, the developer-focused community, and the increasing demand for decentralization across industries.

As reported earlier by TheCoinRise, Lubin stated that The Merge was the third biggest event in the crypto sector, adding that the first was the creation of BTC and second was the creation of ETH.

4th Turning

Lubin identified the current period as a crucial juncture, describing it as the “4th turning” and emphasizing the need for a new global system. He framed this era as a “monetary super cycle,” attributing it to the end of the life of existing monetary systems due to excessive debt and a breakdown caused by certain generations. 

Crypto Emerged During a Time of Centralized Money

He highlighted how crypto emerged during a time of controlled and centralized money, introducing the concept of decentralized trust, a groundbreaking shift away from the traditional paradigm.

According to Lubin, Satoshi Nakamoto’s invention of decentralized trust marked an unprecedented development in human history. The decentralization of trust, as opposed to the centuries-old centralized model, was a revolutionary concept introduced to the world through cryptocurrencies.

Impact of ETFs on the Crypto Sector

Addressing the potential impact of spot Bitcoin ETFs and the prospect of an ETH ETF, Lubin expressed positivity, describing it as a beneficial development in the short term. 

He acknowledged that the floodgates were open, bringing a substantial influx of value into the crypto ecosystem. Lubin highlighted the difficulty for regulators and politicians to impede the growth of crypto portfolios, foreseeing increased funding flowing into the crypto space.

Unstoppable Momentum

When discussing the regulatory landscape in the United States, Lubin acknowledged historical skepticism and opposition from regulators and politicians. However, he noted a shifting momentum that might be beyond the control of policymakers. 

“I think the momentum is picking up, and it’s unstoppable. The SEC has done some things under the Biden administration that are real headscratchers, there’s an element of gaslighting and an element of unreasonableness in some of the actions that they have taken, and the judicial branch has been wonderful in seeing things clearly and making sure the laws of the United States of America and the Constitution are followed and protected,” said Lubin.

In his closing remarks, Lubin expressed anticipation for a more decentralized governance model in the United States.