Ethereum's Strategy to Win Over Wall Street | Joe Lubin & Danny Ryan
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On the podcast today, we're talking to Danny Ryan from Etherealize and Joseph Lubin from ConsenSys, who also recently has joined Sharpling Gaming to take ETH into a treasury vehicle on Wall Street. Both of these individuals are doing their own strategy to bring ETH into the light in Wall Street. Danny Ryan and Etherealize are consulting. They are advising Wall Street companies, working with Wall Street companies to teach them how to work on Ethereum, how to use Ethereum and leverage Ethereum's utility to further their businesses, and also preach about Ether, the asset, and how it belongs in Wa
guess, first of all, the context of the break is is maybe relevant. I left for a concerted three months last year, and I I stepped away on Friday. And on Sunday, the SEC served me. And so I spent a lot of my break dealing with the government, the government at the time. What
was the motivation for the serve?
Very unclear. Some sort of investigation around the things that I've worked on, building open source protocols. But that ended up getting dropped. The political tides changed. The EF went through some growth, growing pains, some shift in leadership. And so a lot, like, a lot of things happened in that that time between me taking some time off mid last year and today. And I think it was really the way I think about it is I entered at the EF beginning of twenty eighteen. I had been trying to find my entry into the Ethereum ecosystem for about a year and a half at that point. I, Yamaguchi, also b
Yep. So, Dave, just to answer your question about the subpoena Mhmm. Feels like we're on a totally different timeline now. It's
crazy. But,
and thank god for that. But it it seems that share Gensler was given a mandate, probably by Elizabeth Warren to kill, slow, or co opt the Ethereum technology and is specifically more focused on Ethereum because Ethereum represented rigorous decentralization and and real disintermediation. And, the banking industry prefers to, to win a rigged game government for you know, especially the progressive wing of the Democratic Party, they prefer big government and granular control of everything. And so chair Gensler took his mandate very seriously, and we were tracking the situation carefully for a n
I don't know if this conversation has ever been, at least to my knowledge, been made public before. Like, obviously, Joe, we knew that you were going on the offensive with the SEC, but I didn't actually know that it was downstream of people high up in the Ethereum Foundation. The highest up people in The United States that the SEC could access were actually getting subpoenas. And that that's what, convinced you at ConsenSys to, like, oh, no. We can't just, like, passively play nice here. We need to go on the offensive to defend people like Danny to be able to ship open source, code. Is this is
actually reached out to some people. I don't know if we reached out to you, and we asked if, if we could share names, but but people weren't really comfortable indicating that they'd received subpoenas. But, thank you for, for sharing that. Mhmm.
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