Scaramucci Advocates Crypto Community Support for Biden Over Trump

Anthony Scaramucci, a notable figure in the digital asset space and founder of SkyBridge Capital, has publicly urged the cryptocurrency community to back Joe Biden over Donald Trump. Speaking at a Duke University event on digital assets, Scaramucci highlighted the risks he believes a Trump presidency poses to the legal stability of cryptocurrencies. Citing a Bloomberg report, Scaramucci described a potential Trump return as a source of "chaos and unpredictability" in the legal system, preferring regulatory battles with figures like Elizabeth Warren and Gary Gensler over macro-level chaos.

With a background that includes a partnership with convicted fraudster Sam Bankman-Fried, Scaramucci is no stranger to controversy within the crypto world. He has previously drawn parallels between Trump and Bankman-Fried, labeling both as different types of fraudsters who exploit individuals for their gain. His comments underscore his stance on the importance of ethical leadership in both politics and the cryptocurrency industry.

Scaramucci expressed optimism regarding Coinbase's ongoing legal battle with the SEC, suggesting a significant victory for the crypto industry could be on the horizon. He predicts a successful outcome for Coinbase, especially in the Supreme Court, indicating a belief in a fair regulatory process for digital assets. This optimism is shared by Bloomberg's senior judicial analyst, Elliot Z. Stein, who assesses Coinbase's chances of winning against the SEC at 70%.

The conversation also touched on the broader implications of SEC's recent approval of Bitcoin ETFs, with Scaramucci suggesting that while hedge funds might be hesitant, this could lead to a broader adoption of cryptocurrencies. However, he noted that tokens beyond Bitcoin might still be too speculative for mainstream investment. His comments come as Trump, who has voiced opposition to central bank digital currencies, shows a slight lead over Biden in a potential 2024 election rematch, according to a recent CNN poll.