“Oracle” Joseph Lubin relieves FUD staking pressure and fear of Ethereum as a security

Joseph Lubin, co-founder of Ethereum and wallet parent company Metamask ConsenSys, said there is little chance that US financial regulators will treat ETH as a security.

"Oracle" Joseph Lubin relieves FUD staking pressure and fear of Ethereum as a security
“Oracle” Joseph Lubin relieves the pressure of FUD staking and the fear that Ethereum is a security

It can be said that the liquid staking segment has become a “leader” in the past weeks, spurred by Ethereum’s Shanghai hard fork event, which has helped make the market more prosperous with a strong wave of growth not only can evident in the big brother Bitcoin, surpassing the $ 24,000 mark but also most tokens related to this field.

However, the rally was immediately stopped and broken with Bitcoin price from $ 23,000 back to a trading area below $ 22,000 when the US Securities and Exchange Commission (SEC) announced a fine of 30 million VND on Kraken. USD and a permanent ban on staking services, on the grounds that the exchange offered an unregistered crypto staking product as a security contract. Even SEC Chairman Gary Gensler issued a warning against the crypto industry after the decision.

This inadvertently created legal fears over the trend that is receiving active attention from the community. Because in September 2022, Mr. Gary Gensler once had some arguments that staking works according to a security model between The Merge event line and of course the pioneering flag Ethereum is a security or not after The Merge has been a “hot” topic to date.

But to reinforce confidence about the future of Ethereum, recently in an interview over the weekend, ConsenSys founder Joseph Lubin said that the SEC continues to put pressure on staking and if it directly labels ETH as a security official will lead to outcry from the crypto community, along with various politicians and certain US regulators.

Despite Gary Gensler’s views, Joseph Lubin claims he has been in crypto negotiations with the SEC and the US Commodity Futures Trading Commission (CFTC) for years to come to a favorable outcome. for industry. He therefore concluded that the US court system would ultimately uphold the SEC’s arguments against the ETH securities status.

The reason Kyptos wants to bring Joseph Lubin’s perspective on the staking situation that is suffering a lot of FUD recently to readers is because in the past, the owner of the MetaMask wallet has made some pretty accurate predictions about the market. act as a bad “prophecy” about Solana’s future and finally the crisis facing SOL has arrived.

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