Scaramucci Backs Biden, Warning Against Trump’s Crypto Policy

• Since Bitcoin became a hot political topic, Trump’s campaign prevailed as pro-crypto.
• SkyBridge’s Scaramucci takes Biden’s “gradualism” over Trump’s “impulsivity”.
• BTC enjoyed a run to $73K in 2024 due to ETF progress, claims Scaramucci.

Former White House communications director Anthony Scaramucci has voiced his opinion on the forthcoming United States presidential election, applauding Democratic candidate Joe Biden. This marks an unusual case in the context of crypto industry leaders recently lauding Donald Trump for embracing cryptocurrency, with Kraken’s CEO being the latest.

Only One Choice for Scaramucci

Considering Biden’s sluggish stance on crypto, Scaramucci told the Bitcoin-embracing audience of the Unchained Podcast that “it’s political suicide at this point to be anti-crypto,” estimating 85 million crypto holders in the United States.

However, when the show’s host, journalist Laura Shin, asked Scaramucci about his personal vote choice, the SkyBridge Capital hedge fund founder backed Biden, saying, “There’s only one choice in this election. And it has to do with what I know about Donald Trump.”

Scaramucci also issued a warning to crypto fans considering voting for Trump: “Remember he was very negative on Bitcoin and digital assets while president. He’s now done a 180 because he wants your vote.”

The Crypto Industry Already Won?

“The industry needs to understand that we already won,” Scaramucci intriguingly declared, referring to the diligence of the legal system that defeated the Securities and Exchange Commission (SEC) in the Grayscale and Ripple lawsuits, crucial for crypto legislation.

Scaramucci suggested that Gary Gensler and Donald Trump are alike, acting “a little authoritarian and autocratic in the way they think”. Because of this, he pledges to go with “traditional democracy”, rather than “Trump’s craziness.”

On the other hand, Biden’s administration has been slammed by many Bitcoin holders for vetoing the SAB 121 repeal, which imposes additional restrictions on large-magnitude crypto custody services by traditional banking institutions. Meanwhile, Trump netted $12M in a crypto-friendly fundraiser in a Silicon Valley campaign earlier this month.

On the Flipside

• In the recent episode of Unchained Podcast, Scaramucci sent a subliminal message to Joe Biden’s administration: “65 million people in the United States own dogs. That’s like being anti-dog. It’s very silly for a president or administration to be anti-crypto.”

Why This Matters

Political world leaders debating the regulation of the crypto sector widen adoption opportunities and raise awareness about Blockchain technology’s ability to contribute towards the economy.

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