Last updated on December 4th, 2024 at 01:05 pm
Cathie Wood, founder of Ark Invest, has expressed concern that the U.S. almost lost its competitive edge in crypto, especially before Donald Trump’s reelection.
In a CNN interview, Wood stressed the importance of the U.S. regaining leadership in emerging technologies such as crypto, AI, robotics, energy storage, and multiomic sequencing. She compared their significance to that of the internet and argued for regulatory policy shifts to help the U.S. reclaim its global position. Wood identified overregulation as a critical issue driving talent away from the country.
Wood also pointed out that a change in leadership at the SEC could foster a more favourable environment for digital assets, promoting mainstream adoption and stimulating growth within the sector.
Cathie Wood expresses optimism about potential regulatory changes in the U.S. after the recent election, believing that shifts at the SEC and FTC could lower regulatory barriers and promote economic growth. She highlights that deregulation, tax cuts, and an emphasis on innovation in digital assets, robotics, AI, and blockchain could significantly enhance the U.S. economy, driving productivity growth reminiscent of the 1980s and 1990s.
Analysts at Matrixport suggest that potential appointments by Donald Trump to critical roles in the U.S. Treasury, Commerce Department, and SEC could lead to a more crypto-friendly environment. They anticipate a narrative shift for Bitcoin from “digital gold” to a focus on a “DeFi renaissance,” highlighting the potential for more transparent regulations and efforts to digitize the financial economy, benefiting crypto under Trump’s policy agenda.
However, Arthur Hayes, the founder of BitMEX, challenges the belief that former President Donald Trump supports Bitcoin. In an interview, he expressed scepticism about Trump’s potential prioritization of Bitcoin if re-elected, citing a lack of pro-crypto policies during Trump’s first term. Despite Trump’s engagement with the crypto sector and promises for favourable policies in the future, Hayes remains unconvinced.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
