Straight Up with Joe Lubin: Building Ethereum Infrastructure with Major Players in a Big Country
Discussion underway between Ethereum's Co-Creator and Significant Sovereign Wealth Funds Regarding Potential Purchase of Ether
Hey there, crypto homies! You know who's getting all the buzz today? None other than Joe Lubin, Ethereum co-founder and CEO of Consensys. In a recent sit-down on Rug Radio's latest "Fomo Hour," he spilled some major tea about building Ethereum infrastructure with major banks and sovereign wealth funds in a "super-sized" country. But will they be buying ETH too?
In the interview, Lubin explained his view that decentralized protocols are the key to creating a new global financial system. It seems like this new system might have a new addition soon, thanks to Lubin's ongoing discussions with financial heavyweights in an undisclosed nation.
"We're chatting up major sovereign wealth funds and banks in a particular country about setting up shop on the Ethereum landscape," he said, hinting at potential layer-1 infrastructure builds and their own layer-2 constructs.
Speaking of layer-2, we all know how sovereign wealth funds and nation-states have gotten cozy with Bitcoin in the past, adding it to their balance sheets and treasuries. But could a significant country jumping on the Ethereum bandwagon lead to a big investment in ETH? There's a fair chance, but ETH as a treasury asset is a relatively recent development.
Just last week, Lubin and Consensys made headlines with their investment in publicly-traded SharpLink Gaming, securing $425 million to kick-start its new Ethereum-focused treasury. Lubin now serves as Chairman of SharpLink's board, and they plan to use ETH proactively for yield through staking, restaking, and DeFi, all at prudent risk levels.
Interestingly, SharpLink's treasury strategy differs from the one favored by MicroStrategy, which primarily buys and accumulates Bitcoin to create BTC yield. But SharpLink's approach could generate interest among other institutions seeking innovative ways to manage their treasuries.
The volatility of SharpLink stock in the days following the investment is a testament to the excitement surrounding this new venture, despite its ups and downs. SharpLink's shares are up over 900% in the last month alone.
Amidst recent turmoil in the Ethereum ecosystem and underperformance in its price relative to Bitcoin and Solana, Lubin remains optimistic about the future of ETH. He described Ethereum as the "middle child" compared to its loudly-proclaimed siblings but emphasized its silent, steady planning for the future.
"Ethereum, the overlooked one, was quietly preparing for greatness," said Lubin, alluding to its ambition to become a pillar of the broadband moment.
So, folks, buckle up for a possible Ethereum revolution with some major players onboard. And who knows, perhaps Ethereum will even overtake Bitcoin someday!
By John Doe (Albeit with a sprinkle of artistic liberties)
Daily Debrief Newsletter
Questions, comments, or outrage? Hit me up at [email protected]. (PS: I might be a bit biased, but hey, who isn't in this wild world of crypto?)
- Joe Lubin, Ethereum co-founder, spoke about building Ethereum infrastructure with major banks and sovereign wealth funds in a "super-sized" country on Rug Radio's latest "Fomo Hour."
- Lubin believes decentralized protocols are key to creating a new global financial system, hinting at potential infrastructure builds on the Ethereum landscape.
- Sovereign wealth funds and nation-states have previously shown interest in Bitcoin, but a significant country joining the Ethereum bandwagon could lead to a big investment in ETH.
- Last week, Lubin and Consensys made an investment in SharpLink Gaming, securing $425 million to establish an Ethereum-focused treasury and use ETH for yield through staking, restaking, and DeFi.
- SharpLink's treasury strategy differs from MicroStrategy's, which primarily buys and accumulates Bitcoin for BTC yield, but could generate interest among other institutions seeking innovative treasury management techniques.
- The volatility of SharpLink stock following the investment highlights the excitement surrounding this new venture, with shares up over 900% in the last month alone.
- Despite recent turmoil in the Ethereum ecosystem and underperformance compared to Bitcoin and Solana, Lubin remains optimistic about ETH's future, positioning it as a key player poised for greatness in the broadband moment of decentralized technology.
