SkyBridge founder urges crypto community to support Biden in US presidential election

Expressing support for the Biden administration

Anthony Scaramucci, founder of major US hedge fund SkyBridge, called on the crypto asset (virtual currency) community to support President Biden in the US presidential election this November. Bloomberg reported on the 2nd.

Anthony Scaramucci advised the cryptocurrency community to support President Joe Biden over Donald Trump in the 2024 presidential election, despite the incumbent administration’s harsh stance toward the industry. https://t.co/Xpr7qBclH0

— Bloomberg Crypto (@crypto) February 5, 2024

Scaramucci said at a conference on digital assets held on the 1st that while the Trump administration will be good for cryptocurrency regulation in the short term, in the long term Trump will “bring havoc and unpredictability to the legal system. ‘ he claimed.

He was appointed White House communications director under the Trump administration, but was fired after only 10 days in office, and has since taken a critical stance against Trump.

Most recently, in an interview with CNN, he claimed that “Mr. Trump is a threat to democracy.” He said he would support President Biden’s re-election campaign with fundraising and outreach efforts.

victory in court

Mr. Scaramucci seems to think he is safer than the unpredictable Mr. Trump, as he has had several successful legal battles against the current administration, which is not friendly to cryptocurrencies.

Senator Elizabeth Warren, who has maintained a negative attitude towards virtual currencies, and US Securities and Exchange Commission (SEC) Chairman Gary Gensler, who has been criticized for enforcing regulation without setting clear rules. Regarding this, he said:

He cited Grayscale’s successful lawsuit against the SEC regarding Bitcoin ETF conversion. The crypto industry has won enough in court, he said. In addition, Coinbase is expected to ultimately prevail in the lawsuit between major US exchange Coinbase and the SEC regarding the securities nature of virtual currencies. He expressed his belief that “a fair regulatory process for virtual currencies will be realized.”

connection:Bloomberg Senior Litigation Analyst: “Coinbase has the upper hand in lawsuit against SEC, 70% chance of success”

Cryptocurrency policy disadvantageous for elections

Scaramucci pointed out in mid-January that the Biden administration’s cryptocurrency policy could be detrimental to the presidential election.

He pointed out that there are currently 52 million crypto holders in the United States, accounting for 20% of the voting population. While 61% of this group voted for Democrats and Biden in the last election, they argued that their voting behavior may change next time, given the current administration’s stance on cryptocurrency regulation.

In states such as Pennsylvania, Nevada, Georgia, and Arizona, which are known as battleground states in the presidential election, the majority of virtual currency holders are in the majority, so whether or not they can gain the support of the virtual currency community is important. When it came, he was watching.

Last May, Senator Elizabeth Warren resubmitted the Digital Asset Money Laundering Prevention Act to Congress. The bill has been strongly criticized by industry insiders and pro-cryptocurrency lawmakers, as it would require virtual currency wallet providers, miners, validators, etc. to have the same customer verification requirements as existing financial institutions. There is.

Regarding Warren’s hardline stance on cryptocurrencies, Scaramucci commented as follows:

connection:U.S. Coinbase strongly opposes Warren’s claims, saying they are “misrepresenting efforts to comply with the law”

Trump and virtual currency

Former President Trump said in 2021 that Bitcoin is “like a currency that competes with the US dollar, so I don’t like it.”

On the other hand, regarding central bank digital currencies (CBDCs), which are feared to violate privacy, he made clear his stance against CBDCs, stating at a rally in the run-up to the presidential election in mid-January of this year, “I will never allow the creation of CBDCs.” It is shown in

During his presidential term, Trump approved a second term for SEC Commissioner Hester Pierce, known as a crypto supporter, and appointed Rep. Mick Mulvaney, also a crypto supporter, to head the Office of Management and Budget. . Mulvaney also briefly served as acting chief of staff to the president.

In 2022, Mr. Trump, who has excellent business acumen, will release “Collect Trump Cards,” an official NFT (non-fungible token) digital trading card with his motif. The collection sold out in just a few hours. When the second edition was released in April 2013, it sold out again within hours. In December of the same year, he released a new NFT trading card, “Mugshot Edition,” featuring a photo of himself at the time of his arrest.

Blockchain data analysis firm Arkham Intelligence reported in December last year that he sold $2.4 million (356 million yen) worth of Ethereum (1,075 ETH) accumulated as royalties on these NFTs.

Last August, documents filed with the U.S. Office of Government Ethics (OGE) revealed that Trump had a wallet containing Ethereum worth between $250,000 and $500,000 (JPY 37 million to JPY 74 million). However, it appears that the number of Ethereum holdings continued to increase due to NFT sales and royalties.

connection:Cryptocurrency portfolio linked to former President Trump may have sold $2.4 million worth of Ethereum – Arkham data

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