Consensys CEO: Trump’s Pro-Crypto Presidency to Reshape U.S. Market

• Consensys CEO Joe Lubin remains hopeful of the crypto industry under Trump’s administration.
• Trump will likely settle or dismiss lawsuits, including crypto companies, saving millions of dollars.
• Lubin addresses Trump as a good politician who effectively captures public sentiment.

Consensys CEO Joe Lubin fueled hopes of a crypto market resurgence under Donald Trump’s administration. Speaking at DevCon 2024 in Thailand, Lubin predicted that lawsuits involving key crypto companies would likely be resolved or dismissed, potentially saving the industry hundreds of millions of dollars.

Trump’s return as the 47th President has energized the crypto community, thanks to his support for the sector . During his campaign, he declared himself the “crypto President” and became the first U.S. leader to accept Bitcoin donations. Trump also promised to restructure the SEC, with plans to replace Gary Gensler with a pro-crypto chairperson.

Lubin acknowledged Trump as a “pretty good politician.” He believes that the incoming president effectively captures the public sentiment and has already started his strategic initiatives to uplift the crypto environment. Previously, Trump stated that he envisions transforming America into the “crypto capital” and Bitcoin its strategic reserve.

Read also: Consensys’ SEC Challenge Fails: Texas Court Dismisses Lawsuit

Consensys Lawsuit Against the SEC’ Over Ethereum

Lubin also addressed the Consensys lawsuit against the SEC, filed in April 2024, which challenged the agency’s attempts to classify Ethereum 2.0 differently from its predecessor. While the SEC initially deemed Ethereum a non-security, the new classification efforts raised concerns about regulatory overreach.

Lubin referred to the lawsuit as a wake-up call for the industry and criticized the SEC for what he called “gaslighting” tactics that disrupted innovation.

At DevCon, Lubin unveiled “ Network State ,” a blockchain-based platform that enables individuals to declare and uphold their personal sovereignty. The project aims to build resilient and inclusive communities, allowing users to establish and maintain values that reflect their principles. Lubin criticized the SEC’s restrictive policies, stating that they have stifled growth in a climate of uncertainty.