Ethereum Soars As Lubin Calls "The Cryptobottom

[PRIBO247]

As CoinTelegraph reports, according to Lubin, the crypto
market’s bottom “is marked by an epic amount of fear,
uncertainty, and doubt,” specifically from industry media and
social commentators, which he refers to as “our friends in the
4th and crypto-5th estates.”

Continuing in a Twitter thread, the founder of Ethereum
blockchain-focused software firm ConsenSys then evidently
addressed his firms recently reported major layoffs:

“ConsenSys remains healthy and is engaging in a
rebalancing of priorities and activities which started
about nine months ago.”

He stated that Consensys continues investing in projects —
in its role as a blockchain tech incubator and venture firm —
and hiring for internal projects that “remain core to our
forward looking-business.”
In the same thread , Lubin complained about “an epic amount
of conjecture and preemptive paranoia” concerning
“situations journalists and bloggers don't have real data for,
actual insight into, or understanding of.”
Concluding, Lubin reiterated his optimism about the future of
ConsenSys and Ethereum, stating:

“The sky is not falling. From my perspective the
future looks very bright. [...] Peaking [sic] into 2019,
if you could see the landscape through my eyes,
you'd have to wear shades.”

Reports surfaced this week — citing sources familiar with the
matter — that ConsenSys is spinning out startups it
previously backed, some of them without financial support.
The sources reported that the number of employees to be laid
off could be anywhere between 50 and 60 percent of
ConsenSys’ 1,200 person workforce.

This past week, Cointelegraph reported that in comparison to
more significant job cuts in various industries globally, the
current slump in the cryptocurrency markets and ensuring
job cuts in associated companies seem relatively benign.
In September, Ethereum’s other co-founder Vitalik Buterin
had pointed out that there is no chance that the
cryptocurrency and blockchain space will see “1,000-times
growth” again.

https://www.zerohedge.com/news/2018-12-23/