- Biden’s crypto policies, like vetoing the SAB 121 repeal, have sparked controversy in the crypto community.
- Scaramucci backed Biden, citing Bitcoin’s growth and cautioning against Trump’s electoral crypto stance.
As a crypto investor with some experience in the market, I’ve been closely following the developments surrounding President Joe Biden’s crypto policies and the ensuing reactions from prominent figures like Anthony Scaramucci.
Critics within the crypto community have expressed strong disagreement with the latest cryptocurrency regulations proposed by President Joe Biden.
As a researcher examining financial regulatory policies, I’ve come across a significant point of contention: President Biden’s decision to veto the repeal of Staff Accounting Bulletin 121, or SAB 121 for short. This action sparked intense debate and received considerable criticism from various quarters.
Critics argue that the SEC’s SAB 121 accounting guidelines have deterred large-scale cryptocurrency custodial services among investment banks due to their controversial nature.
Scaramucci supports Biden
Although not all share this perspective, Anthony Scaramucci, the founder of SkyBridge, held the conviction that Biden was the preferred candidate in the approaching election, including for crypto enthusiasts.
During a recent interview on the “Unchained” podcast, Scaramucci openly declared his intention to vote for Joe Biden in the upcoming election.
As a researcher, I’m convinced that this decision is beneficial for America’s future based on my comprehensive understanding of Donald Trump.
Adding a word of caution about Trump, he noted,
As a researcher studying political stances on cryptocurrencies, I previously noted that this individual expressed strong opposition to Bitcoin and digital assets during his presidency. However, upon further examination of his current position, it appears he has undergone a significant shift in perspective likely due to his desire to win your vote.
Scaramucci also highlighted Bitcoin [BTC]’s growth during Biden’s administration, emphasizing that,
“Bitcoin has gone from $17K to $70K in the Biden Administration”.
From Scaramucci’s perspective, Bitcoin made significant progress in 2024. Notable achievements include the launch of a Bitcoin spot Exchange-Traded Fund (ETF) and the digital currency reaching a new record price of $73,000 as its all-time high (ATH).
Is Anthony Scaramucci right?
The results from one of Polymarket’s prediction markets for the 2024 Presidential Election Popular Vote Winner provided additional evidence, indicating that Biden had a higher probability of winning at approximately 56%, while Trump’s chances were at around 36%.
Given that a significant number of Polymarket’s users are crypto enthusiasts, the platform provides valuable insights into their preferred candidates or positions for the upcoming election.
As a crypto investor following the political landscape, I’ve noticed an intriguing difference between two prediction markets. In one market focusing on the 2024 US Presidential Election, Donald Trump is currently holding a commanding lead with approximately 60% probability of winning. Meanwhile, Joe Biden trails behind with only a 34% chance based on current market data.
What lies ahead?
Hence, as we await the election outcome, it will be intriguing to see the eventual winner.
During this period, Scaramucci maintains his position, emphasizing that Trump’s recent pro-crypto stance is driven by political motivations aimed at boosting his electoral chances, despite earlier criticisms.
And, thus, Scaramucci summed it up aptly when he said,
As a researcher observing the political landscape, I would describe the Biden Administration’s approach as a gradual and consistent thawing, in contrast to the impulsive nature of some previous administrations.
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2024-06-27 08:11