Last week, Donald Trump won the presidential race and was re-elected as the 47th president of the United States.
While Trump's election brought a huge rise to Bitcoin and altcoins, it was stated that Dogecoin would benefit the most from Trump's victory.
However, Consensys CEO Joseph Lubin claimed that Ethereum is the cryptocurrency that will benefit the most from Trump's victory.
Noting that Ethereum faces challenges from the US Securities and Exchange Commission (SEC), which is influenced by the Democratic Party, Consensys CEO Lubin said that with Trump's election, these negativities will decrease and ETH will benefit from this.
The famous CEO also stated that the expected leadership changes at the SEC and other institutions will create a more favorable regulatory environment.
Lubin predicted that things would improve for Ethereum since Trump’s victory last week, especially with a possible change in SEC leadership, saying:
“The US-SEC has been going after the Ethereum ecosystem, especially Ethereum, and that has caused a lot of FUD. But with the changes that are made, I think ETH will make a strong recovery.
“We've already seen a recovery in ETH after Trump's victory. So I think Ethereum will benefit more than other altcoins from Trump's victory, especially because it's much bigger and more mature than any other ecosystem outside of Bitcoin. Bitcoin is mature but its sphere of influence is narrow.”
Finally, Lubin predicted that SEC chairman Gary Gensler would submit his resignation on January 20, when Trump is expected to return to the White House on January 20.
Lubin also added that he expects current SEC commissioner Mark Uyeda to become interim chairman after Gensler resigns.
“I hope Gensler and the SEC don't try to squeeze too many people and companies before he steps down. I hope they're gracious in his departure or transition.”
Ethereum, which has increased by 23% in the last week, continues to be traded at $3,185 at the time of writing.
*This is not investment advice.