Coinbase CEO Brian Armstrong believes that lawmakers in the United States are missing out on crypto opportunities due to their fear of another FTX-like incident. Armstrong points out that the US has been falling in economic freedom rankings and argues that crypto is the best technology to increase economic freedom globally. He suggests that the US is lagging behind other countries, such as the UK and UAE, who have moved on from FTX’s collapse. Armstrong believes that sensible regulations are needed to protect consumers and prevent similar issues from occurring. Sam Bankman-Fried, the disgraced CEO of FTX, was a major political donor prior to the collapse of his crypto empire. He reportedly donated $40 million in the last election cycle, and some Democratic Party campaign groups are reportedly planning to return his political contributions.
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