Consensys CEO Joe Lubin believes that Ethereum will be the blockchain protocol to benefit the most from Donald Trump’s victory in the U.S. presidential election. According to him, the SEC (U.S. Securities and Exchange Commission) has posed significant challenges to Ethereum’s growth, largely due to the influence of the left-wing faction of the Democratic Party.
Since Trump’s win, the price of Ether has surged by 23%, reaching $3,200—outpacing gains in Bitcoin (16%), Solana (8%), and BNB (3%). Ethereum ETFs in the U.S. also saw record inflows of $295 million on November 11.
Lubin anticipates a positive shift in SEC leadership once Trump takes office in January 2025, hoping that current SEC commissioner Mark Uyeda will become the acting chairman, which would create a more favorable environment for the growth of blockchain technology and Web3.