Scaramucci Warns Trump is Bad for Crypto
During a digital assets event at Duke University, former White House Director of Communications Anthony Scaramucci urged the crypto community to support President Joe Biden over Donald J. Trump. Scaramucci claimed that if Trump were to become president again, it would create havoc and unpredictability in the legal system. He expressed a preference for regulatory fights with people like Elizabeth Warren and Gary Gensler rather than engaging in a macro fight with Trump. Scaramucci, who is the founder of SkyBridge Capital, has a history in the crypto industry and has compared Trump to convicted fraudster Sam Bankman-Fried.
Legal Victories For Crypto Ahead?
Scaramucci also expressed optimism about Coinbase’s legal battle against the SEC. He predicted that Coinbase would win the case in the Supreme Court, citing the composition of the court as a factor. He believes that there will eventually be a fair regulatory process for digital assets. Bloomberg’s Senior Litigation Analyst Elliott Z. Stein also gives Coinbase a 70% chance of winning the case.
Biden Versus Trump
Scaramucci discussed the SEC’s recent approval of spot Bitcoin ETFs and suggested that the hedge-fund crowd may expand their portfolios to include Bitcoin. However, he noted that other tokens beyond Bitcoin may be too speculative for this industry. Scaramucci’s comments come as Trump has been gaining primary victories and leading Biden in polls for a likely 2024 electoral rematch.
Hot Take: Scaramucci Urges Crypto Community to Support Biden Over Trump
Former White House Director of Communications Anthony Scaramucci recently urged the crypto community to support President Joe Biden over Republican frontrunner Donald J. Trump. Scaramucci warned that another term for Trump would bring havoc and unpredictability to the legal system, while expressing a preference for regulatory fights with other figures. He also expressed optimism about Coinbase’s legal battle against the SEC and predicted a victory in the Supreme Court. Scaramucci’s comments come as Trump gains primary victories and leads Biden in polls. The crypto industry will be watching closely to see how these political developments impact the regulatory landscape for digital assets.
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