Former hedge fund manager and Republican politician Vivek Ramaswamy has sharply criticized the Federal Reserve and U.S. regulatory practices.
He argued that the Fed’s focus is driven not by its expertise but by widespread expectations of its failure.
Ramaswamy also condemned the U.S.’s “regulation by enforcement” strategy, claiming it stifles innovation and creates a difficult environment for cryptocurrency businesses.
According to Ramaswamy, U.S. businesses need more transparent policies, as regulatory ambiguity can lead to authoritarian practices.
On cryptocurrencies, he praised former President Donald Trump as a supporter of the industry, suggesting that Trump’s potential re-election would enhance regulatory clarity.
Ramaswamy highlighted Trump’s evolving stance on financial freedom and his commitment to ending the current administration’s anti-crypto policies.
He also criticized the Biden-Harris administration for its handling of inflation and proposed capital gains taxes, which he believes could negatively impact ordinary Americans.
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Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
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Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.