Cathie, CEO of ARK Invest Drinkhighlighted that the crypto sector is currently an election issue amid the latest developments in UNITED STATES and the proximity of the upcoming elections, as candidates try to build industry support to win the November presidential elections.
Wood said the reason the exchange-traded fund (ETF) approval documents Ethereum were suddenly approved by authorities because the industry is now an election issue in the United States, according to reports TO DO Coindesk.
Commenting on the topic during an interview with Peter McCormack, host of the What Bitcoin Did podcast, during Consensus 2024, the ARK Invest CEO emphasized that: “The reading was that this would not be approved. This would absolutely not be approved.
“If it had been approved in the normal way, we would have received questions from the SECOND. No one received any questions from the SEC beforehand,” Wood said.
The executive also noted the shift in opinion around the Financial Technology and Innovation for the 21st Century Act (FIT21) in the United States House of Representatives. While the Biden administration has opposed passing the bill, the White House has no plans to veto it, showing a divide within the US government on crypto regulation. currencies in the United States. On May 22, the House voted 279-136 to approve FIT21.
Additionally, former president and current candidate for this position, Donald Trump, changed his campaign strategy and became a “friend” of cryptocurrencies, even going so far as to accept campaign donations in crypto, attracting government attention, according to Wood.
Cryptos at the center of the American presidential debate
Joe Biden and Donald Trump, central figures in American politics, prepareto a direct confrontation during the next presidential debate scheduled for June 27. Biden, currently president, confirmed his participation in a statement on social network X on May 15, challenging Trump to do the same. Trump, in turn, was quick to accept the invitation, expressing through his social media platform, Truth Social, his willingness to debate Biden.
The two candidates, although facing separate legal challenges, are expected to meet before even formally receiving their respective parties' nominations at the national conventions. It will be a pivotal moment given that Robert F. Kennedy Jr., a prominent third candidate, has criticized his exclusion from the debate.
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