Ethereum Expected to Benefit from Trump's Election

Last week, Donald Trump was re-elected as the 47th president of the United States. His victory has sparked speculation about the potential impact on various cryptocurrencies.

Consensys CEO's Prediction

Joseph Lubin, CEO of Consensys, believes that Ethereum will benefit significantly from Trump's election. He cites potential changes at the US Securities and Exchange Commission (SEC), which has historically been influenced by the Democratic Party. Lubin anticipates a more favorable regulatory environment under Trump's leadership.

Expected Leadership Changes

Lubin predicts that the SEC chairman, Gary Gensler, will resign on January 20th, when Trump is expected to return to office. He also suggests that current SEC commissioner Mark Uyeda will become interim chairman after Gensler's departure.

Ethereum's Performance

Since Trump's election, Ethereum has experienced a 23% increase in value and is currently trading at $3,185. Lubin attributes this rise to the optimism surrounding a possible shift in SEC leadership.

Conclusion

Lubin believes that Ethereum's larger ecosystem and maturity will allow it to reap the greatest rewards from Trump's election. He encourages the outgoing SEC leadership to exercise restraint in the transition period.

Disclaimer: This information is not intended as investment advice.