Coinbase CEO Brian Armstrong thinks lawmakers in the United States are “wasting” crypto opportunities for the country as they are still shaken by last year’s FTX implosion.
Armstrong notes that the US has dropped in the “economic freedom” ranking over the years, citing an annual list published by the Heritage Foundation, a conservative think tank based in Washington DC
The CEO argues that crypto is the most suitable technology to increase economic freedom around the world.
“The US is wasting an early lead, in part because SBF (Sam Bankman-Fried) has embarrassed some politicians and regulators who now want to crack down on crypto.
However, pretty much everyone else has moved on and FTX isn’t really discussed in the UK, UAE, etc. The way to fix it is to put sensible rules in place so consumers are protected and these issues don’t happen again.
Sam Bankman-Fried, the disgraced CEO of FTX, was a prolific political donor prior to the collapse of his crypto empire.
He reportedly gave about $40 million in the last election cycle alone, and The Verge ran a story in December saying that three Democratic Party campaign groups that received funding from Bankman-Fried reportedly planned to donate more than $1 million in political contributions.
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