In a tweet which was published on
the 21st of December, Joseph Lubin said that he is calling the “cryptobottom of 2018.” Joseph Lubin is the co-founder of Ethereum (ETH) – one of the
most popular digital currencies in the market. Lubin said that the bottom of
the crypto market is marked by an enormous amount of FUD – fear, uncertainty,
He said that the FUD was more
from social commentators and industry media. Lubin also refers to these
pioneers of FUD as “our friends in the fourth and crypto fifth estates.” Joseph
Lubin is also the founder of ConsenSys – a software company that is based on
the blockchain of Ethereum.
ConsenSys Reportedly Lays Off Workers
There is a recent report that the
firm is laying off some of its workers. In response to this, Lubin said: “ConsenSys is still healthy and is engaging
in a rebalancing of activities and priorities which began about nine months
In the role of the firm as a
venture firm and a blockchain tech incubator, Lubin said the firm continues to
invest in projects. He said the ConsenSys is hiring for internal projects which
remain fundamental to their forward looking-business.
on his tweet, the co-founder of Ethereum complained about “an enormous amount
of preventive and conjecture paranoia” regarding “situations bloggers and
journalists don’t have real data for, understanding of, or actual insight
The co-founder of ConsenSys
reaffirmed his optimism about the future of Ethereum and that of the company.
In a statement, he said: “The sky is not
falling. From my point of view, there is light at the end of the tunnel as the
future looks very bright. Taking a look into 2019, if you could see the
landscape through my eyes, you would have to put on shades.
According to speculations that
surfaced earlier this week, referencing sources similar to the matter, ConsenSys
is cutting off support for startups it previously backed. The report states
that the firm is spinning out some startups without financial support.
According to the report, the
number of staff to be laid off could be as much as fifty to sixty percent of
the 1,200 person workforce of ConsenSys. This is a very large number and it
could cause a major shift in the company. However, Lubin said there is no such
thing and the company is doing well.
About a week ago, Cointelegraph
reported that in comparison to the layoffs in more significant jobs in
different industries across the globe, the present decline in the digital
currency markets and ensuring jobs layoffs in associated firms seem relatively
Back in September, the other co-founder
of Ethereum – Vitalik Buterin – strongly emphasized that there is no chance
that the blockchain and digital currencies space will ever see a growth of one thousand times again. He said
this is because the crypto and blockchain space now has more awareness and such
growth will never occur again.
Ethereum (ETH) Price Today – ETH / USD
At the time of writing, Ethereum
(ETH) is changing hands at $129 after an increase of about 17 percent over the
past twenty-four hours. The digital currency currently has a market cap of $13.26
Billion and its trading volume over the past twenty-four hours is $3.35