Brian Armstrong Says US Is Squandering Its Lead On Crypto As ‘Embarrassed’ Regulators Attempt Crackdown
Coinbase chief government Brian Armstrong thinks lawmakers in the US are “squandering” crypto alternatives for the nation as a result of they’re nonetheless shell-shocked from FTX’s implosion final 12 months.
Armstrong notes that the U.S. has fallen in “financial freedom rankings” over time, citing a yearly list printed by the Heritage Basis, a conservative assume tank primarily based in Washington D.C.
The CEO argues that crypto is the best-suited know-how to extend financial freedom internationally.
“The US is squandering an early lead, partly as a result of SBF (Sam Bankman-Fried) embarrassed some politicians and regulators who now wish to look powerful on crypto.
Just about everybody else has moved on although, and FTX will not be actually mentioned within the UK, UAE, and so on. The best way to unravel it’s to simply get wise regs in place so shoppers are protected and these points will cease occurring.”
Sam Bankman-Fried, FTX’s disgraced CEO, was a prolific political donor previous to the collapse of his crypto empire.
He reportedly gave round $40 million within the final election cycle alone, and The Verge printed a narrative in December indicating three Democratic Occasion marketing campaign teams that obtained funding from Bankman-Fried have been reportedly planning to return greater than $1 million price of political contributions.
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