Ethereum Co-Founder Hails SEC Chair as “Shining Knight of Decentralization

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Joseph Lubin, co-founder of Ethereum, has praised SEC Chair Gary Gensler as a driving force for decentralization. Speaking at ETHDenver, Lubin commended Gensler and the SEC for their efforts in encouraging projects to decentralize themselves.

Lubin also used the example of the SEC’s enforcement action against Kraken, where the exchange’s staking product was deemed to be centralized and therefore, a security offering.

He stated that claims of being decentralized did not hold up when Kraken’s efforts generated the yield paid to stakers. Lubin’s comments come amid perceived unfair enforcement actions and regulatory rumblings that have drawn heat from the crypto community.

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