Anthony Scaramucci Urges Crypto Community to Support President Biden Over Trump
Former White House communications director Anthony Scaramucci called on the cryptocurrency community to back current President Joe Biden over Republican leader Donald Trump during a speech on digital assets at Duke University on February 1. Scaramucci warns that Trump is detrimental to cryptocurrencies According to a recent Bloomberg report, Scaramucci stated that a Trump re-election "would create chaos and unpredictability in the legal system." "I would prefer to fight for regulation with people like Elizabeth Warren and Gary Gensler, rather than with Trump and people like him, on a macro level," Scaramucci told the audience. As the founder of global investment firm SkyBridge Capital, Scaramucci is no stranger to the crypto industry. He was previously a business partner of convicted fraudster Sam Bankman-Fried, whose bankrupt cryptocurrency exchange FTX owned 30% of SkyBridge Capital's shares. The former White House communications director has also drawn parallels between Bankman-Fried and Trump in the past. "(Trump) is a different kind of fraudster than Sam Bankman-Fried, but yes, he is a fraudster," Scaramucci told NBC News in a previous interview, claiming that both "objectify people." Legal victories for cryptocurrency ahead? Scaramucci expressed optimism about Coinbase in its legal battle against the U.S. Securities and Exchange Commission (SEC) for allegedly operating as an unregistered exchange. "The Coinbase case will be very important, a very instrumental case," Scaramucci said. "I predict that we will win this case. And by the way, we might lose it here. But Brian Armstrong will win the case in the Supreme Court." "Just look at the Supreme Court matrix, who's participating in it, and I believe we will achieve a fair process of regulating digital assets," he added. However, Scaramucci is not alone in hoping for Coinbase's legal future. Senior legal analyst at Bloomberg, Elliott Z. Recently Stein assessed Coinbase's chances of winning the landmark case at 70%. Biden vs. Trump Scaramucci also touched on the recent approval by the SEC of spot Bitcoin ETFs, stating that a "broad audience of hedge funds" may expand their portfolios to include this asset class, despite typically being "reluctant." "But regular tokens, other than Bitcoin, are likely too speculative for this industry," Scaramucci explained. Scaramucci's comments come after a series of recent primary victories for Trump, who previously promised to "never allow the creation of a central bank digital currency." Meanwhile, a new CNN poll shows Trump leading Biden by a small margin in what is expected to be a likely rematch in the 2024 elections. Read the full article
