One of the creators of the top smart contact platform Ethereum (ETH) says the Web3 explosion will be exponentially larger than that of the dot-com bubble of the late 90s. In a new thread on the social media platform X, Joseph Lubin – who now serves as the chief executive of blockchain technology firm ConsenSys […]
The post Ethereum Co-Founder Joseph Lubin Predicts Web3 Boom ‘Orders of Magnitude’ Bigger Than Dot-Com Bubble appeared first on The Daily Hodl.
"Let's be clear on one thing. Gary Gensler is evil," Tyler Winklevoss said in a detailed thread about the SEC chair amid resignation rumors.
Cryptocurrency exchange Gemini co-founder Tyler Winklevoss claims the damage caused by United States Securities and Exchange Commission (SEC) chair Gary Gensler to the crypto industry is irreversible as speculation mounts that Gensler may resign.
“Let’s all be clear on one thing. Gary Gensler is evil,” Winklevoss declared in a Nov. 15 X post. “He should never again have a position of influence, power, or consequence,” Winklevoss added.
Winklevoss’ remarks follow growing optimism among crypto market participants that Gensler, a well-known crypto skeptic, may resign after Trump’s win in the US presidential election on Nov. 5.
Crypto companies have been “living in fear in a gas-lit world for a long time,” said Ethereum co-founder Joe Lubin.
The founder of Ethereum software solutions provider Consensys, Joseph Lubin, announced the launch of a new project called Network State where people can declare their “personal sovereignty.”
“We’re on the verge of a paradigm shift that will be heard around the world,” said the Ethereum co-founder in a post on X unveiling the new platform on Nov. 14.
Lubin said Consensys is “on a mission to catalyze a Network State within the emerging decentralized Web3 and AI global economy.”
Consensys, a Web3 software company, is laying off 20% of its workforce due to economic and regulatory challenges. Despite these setbacks, Consensys says it remains committed to its vision for Web3 and plans to continue supporting the Ethereum project. Consensys Cuts Staff Web3 software company Consensys is planning to cut its workforce by 20% in […]
Consensys CEO Joseph Lubin told Cointelegraph that crypto might be the “hardest thing” in software history in terms of potential threats, vulnerabilities and complexity.
As security failures in the digital asset space could result in significant financial losses, Consensys CEO and Ethereum co-founder Joseph Lubin described crypto as “the hardest thing” in software history when it comes to threats, vulnerabilities and complexity.
In an interview with Cointelegraph’s managing editor, Gareth Jenkinson, Lubin underscored the importance of security in the crypto space and compared its current state to the early banking days. Furthermore, the Ethereum co-founder also gave advice on how crypto users can secure their digital assets.
Lubin believes that as the crypto space progresses, industry workers must “do their best and build better implementations of the technology.” The executive compared crypto to the state of banking over a hundred years ago. Lubin said:
Ethereum co-founder Joseph Lubin expects several 19b-4 Ether ETF applications to get the green light but anticipates a long wait before they go public.
According to Consensys CEO Joseph Lubin, early-stage applications to launch Ethereum exchange-traded funds (ETFs) in the United States are “as good as done.”
Speaking exclusively to Cointelegraph at DappCon in Berlin, Lubin said several 19b-4 applications filed by firms like BlackRock will be approved by the U.S. Securities and Exchange Commission (SEC). However, their launch to the public could be a more protracted process.
“These 19- b4's from the exchanges, I think that’s as good as done,” Lubin said.
Steven Nerayoff, a former adviser to the Ethereum network, has publicly denounced Joseph Lubin, co-founder of the Ethereum Project and the founder of Consensys, and other “bad actors” for their detrimental actions in the cryptocurrency market. In a tweet, Nerayoff clarifies that his dispute is not with Ethereum as a whole, but specifically with Lubin […]
Ethereum co-founder Joseph Lubin is issuing a warning about the U.S. Securities and Exchange Commission (SEC), saying the regulator’s current policies on crypto will have a lasting effect on the industry. In a new interview with Wired, Lubin says that if ETH is declared a security by the SEC, people in the US won’t be […]
The post Crypto Billionaire Joseph Lubin Says SEC’s Anti-Crypto Agenda To Have ‘Chilling Effect’ on Ethereum Users – Here’s Why appeared first on The Daily Hodl.
Consensys CEO and Ethereum (ETH) co-founder Joseph Lubin says there’s a massive amount of sidelined capital waiting for crypto exchange-traded funds (ETFs) to hit the market. In an interview with CNBC, Lubin says there are hundreds of billions of dollars sitting in the hands of professionals in the traditional finance industry waiting for easier, regulated […]
The post Ethereum Co-Founder Joseph Lubin Says ‘Giant Amount of Money’ on Sidelines Waiting for Crypto ETFs appeared first on The Daily Hodl.
Eth price trades at a key resistance level, but data highlights why the altcoin could struggle to hold $1,900.
Ether (ETH) price surged by 6.2% from Nov. 3 to Nov. 5, but the altcoin faces difficulty in breaking the $1,900 resistance. Despite the current bullish trend, Ether's 17% return over the last 30 days falls short of Bitcoin's (BTC) impressive 27% gain during the same period.
Analysts attribute some of Ether’s underperformance to uncertainty surrounding Consensys, a key player in the Ethereum ecosystem. Former employees have filed a lawsuit against the company and its co-founder, Joseph Lubin. Over two dozen shareholders of the Swiss-based holding company, Consensys AG, claim that Lubin, who is also a co-founder of Ethereum, violated a "no-dilution promise" made in 2015.
Consensys is responsible for developing and hosting infrastructure projects crucial to the Ethereum network. It was founded in October 2014, about nine months before the Ethereum blockchain launched in mid-2015. Furthermore, the High Court of Zug in Switzerland ruled in favor of the plaintiffs, exacerbating the current uncertainty.
Regulatory challenges have hampered the growth of the Ethereum ecosystem. The latest concern centers around PayPal's U.S. dollar-pegged stablecoin, PYUSD, which operates on the Ethereum network. This token is designed for digital payments and Web3 applications. On November 2, PayPal disclosed a subpoena it received from the U.S. Securities and Exchange Commission (SEC).
In addition to regulatory pressures, there has been notable criticism of the decentralization of financial applications (DeFi) within the Ethereum network. Chainlink, a preferred solution for oracle services, quietly reduced the number of participants in its multi-signature wallet from 4-out-of-9 to 4-out-of-8. Analysts have highlighted the lack of governance by regular users as a significant issue.
Several major altcoins, including Solana (SOL), XRP and Cardano (ADA) have outperformed Ether with returns of 75.5%, 37%, and 35% in the last 30 days, respectively. This discrepancy suggests that the factors holding back ETH are not solely related to regulatory pressure or reduced demand for DeFi and NFT markets.
One pressing issue for the Ethereum network is the high gas fees associated with transactions, including those executed by smart contracts. The latest 7-day average transaction fee was $4.90, negatively impacting the usage of decentralized applications (DApps).
Moreover, the total deposits on the Ethereum network, measured in Ether, have dropped to their lowest levels since August 2020. It's essential to note that this analysis does not consider the effects of native Ethereum staking.
According to DefiLlama data, Ethereum DApps had a total value locked (TVL) of 12.7 million ETH on November 5, down 4% from the 13.2 million ETH two months earlier. In comparison, TVL on the Tron network increased by 13% during the same period, while Arbitrum deposits remained at 1 million ETH. Data on DApps activity on the Ethereum network supports the notion of reduced activity.
Even excluding the significant 60% decline in the Uniswap NFT Aggregator, the average number of active addresses across the top Ethereum network DApps decreased by 3% compared to the previous month. In contrast, Solana's top applications saw an average 18% increase in active users during the same period, according to DappRadar data.
Related: Aave pauses several markets after reports of feature issue
Finally, on-chain activity indicates increased user deposits of ETH at exchanges. While this data doesn't necessarily signal short-term selling, the mere availability of coins is typically viewed as a precautionary measure by analysts.
The present daily ETH deposit average of 255,614 represents a 30% increase from two weeks earlier, indicating that holders are more inclined to sell as Ether's price approaches $1,900.
The data suggests that reduced TVL, declining DApps activity and a higher rate of ETH exchange deposits are negatively impacting the likelihood of Ether breaking the $1,900 resistance. The price level could be more challenging than initially expected and for now, Ether bears can take a breath.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
