Marathon Digital CEO Fred Thiel says that anti-crypto politicians in the US are going to run up in opposition to a key voting bloc.
In a brand new interview with Scott Melker, the top of the crypto mining large says that the Biden administration and different Democratic politicians have taken an anti-crypto stance within the aftermath of enormous digital asset bankruptcies just like the FTX scandal.
“The [Biden] administration was actually extra open to crypto and Bitcoin, digital property. And in January, February of this 12 months that swung round to impulsively a really antagonistic place. You take a look at the White Home’s financial report and the place they took there. Senator [Elizabeth] Warren is now elevating a military in opposition to crypto. I feel a number of that is pushed by constituents who really feel they might have been harmed by what occurred to FTX and Three Arrows Capital, Voyager and many others.
Politicians, mainly, if there’s a squeaky wheel, they’re going to try to silence that squeaky wheel. As a result of many politicians don’t actually perceive how digital property work, the great that they supply, how they assist stability the grid, and many others., they only play whack-a-mole and so they say, Okay, let’s simply stomp this out. That means our voters will like us.”
Nonetheless, Thiel says that politicians who take an anti-crypto stance might draw opposition from youthful voters who, he says, usually tend to assist crypto.
“The problem they’ve is that the youthful voters truly are all concerned about crypto and digital property. And so what’s attention-grabbing is the place earlier than crypto and digital property weren’t a polarizing, political scorching potato, if you happen to would, or matter, it now could be positively turning into one thing that the Democrats are anti-crypto and digital property and the Republicans appear to be professional.
And I feel it’s going to turn into a divisive problem, particularly demographically, on this nation. And it’ll be very attention-grabbing to see. The easy undeniable fact that particular person states are passing “proper to mine” legal guidelines and attempting to do issues to restrict regulatory overreach, which is one thing that the SEC (U.S. Securities and Change Fee) and different regulators have been practising on this matter, it’ll be very attention-grabbing.”
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