Joe Lubin Says Crypto Is Among The Best Weapons For Ukraine Now

Ethereum’s co-founder Joe Lubin says crypto is possibly among the best weapons for Ukraine against Russia with millions in donations pouring in Ukraine to help the country continue its battle so let’s read further in today’s latest cryptocurrency news.

Crypto has proven a powerful weapon for Ukraine and the battle against Russia with the crisis in Eastern Europe getting to a point of no return for crypto’s integration into glboal markets according to Joe Lubin. Lubin is a Canadian entrepreneur and Ethereum co-founder. Joe Lubin says crypto is among the best weapons for Ukraine now because about $60 million in crypto has been channeled into the nation. He said:

“It’s another moment for our industry. It represents crossing the chasm into mainstream adoption. Now we’re onto national security issues. It’s going to be so profound, a point of no return for our industry, because it’s clear that our technology is very powerful and unstoppable.”

Lubin predicted that crypto will be used by many different nation-states regardless of what other nation-states do and this means that each nation has to create a policy and start using these tools. Lubin also said that the glboal leaders are coming late to the party and he accused the US government of being too slow, calling President Joe Biden’s much-hyped executive order that was signed on Wednesday “kind of funny.”  Lubin likened crypto to the arms race saying:

“This country and many others are going to have to make use of this powerful tool and weapon. Nobody likes weapons, but you have to be as capable with powerful weapons as your neighbors are.”

Speaking of Ethereum, Ethereum fees drop to a six-month low, nearing the levels of August 2021 as measured in both ETH and dollar terms. The NFT mania contributed to an increase in transactions costs in late 2021 and it seems that adjectives such as high and expensive have been related to Ethereum transaction costs but according to the reprots from Arcane Research, declining could be a better term for now. The rival networks like Avalanche and Solana already started eating away the ETH market share by offering similar services like NFTs, decentralized finance, and games with lower fees and faster speeds.