Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Cryptocurrency

He seemingly dismissed the crypto market’s potential in favor of strengthening the U.S. dollar in a recent interview.

Former US president calls crypto a ‘disaster waiting to happen’

In an interview with Fox Business released on Tuesday, former United States President Donald Trump was questioned about his views on the health of the Wall Street markets, the current administration’s progress and the potential of Bitcoin (BTC) and the cryptocurrency market.

In response to the latter question, the former president stated: “I like the currency of the United States, but I think the others are potentially a disaster waiting to happen.” He continued:

“They [cryptocurrencies] may be fake. Who knows what they are? They are certainly something that people don’t know very much about.”

He also spoke on protecting the sovereignty of the U.S. dollar as the first priority, rather than advancing the stagnant financial system and grasping the overwhelming benefits that crypto and blockchain technologies have to offer.

Despite these less-than-favorable comments, crypto prices appeared unaffected at the time of publication. Bitcoin has recorded a decline of 1.17% on the day, Ether (ETH) has risen 6.30% and the third-ranked asset, Cardano’s ADA token, is down 1.1%.

In contrast, current U.S. President Joe Biden has adopted a seemingly more favorable stance on the cryptocurrency space, yet he still remains diligently cautious.

Earlier this year, President Biden appointed Gary Gensler, former chairman of the Commodity Futures Trading Commission, as the new Securities and Exchange Commission’s lead.

Gensler has so far adopted a stern regulatory approach that focuses on striking a balance between aiding innovation and protecting the interests of market participants.

Earlier this month, Gensler expressed his beliefs that the market needs “additional authorities to prevent transactions, products, and platforms from falling between regulatory cracks,” as well as “more resources to protect investors in this growing and volatile sector.”

cointelegraph

Featured

Altcoin

ApeCoin is up 4% amid optimistic fundamentals from the network. However, the recent APE coin’s recent gain has failed to reverse its previous downward...

NFT

Stockholm, September 19: As one of the most innovative industries out there, beauty and skincare brands are constantly on the lookout for new and...

Altcoin

Cosmos Price Prediction – September 26The trending outlook of the ATOM/USD market has been in a mooning mode as the crypto’s price holds high...

Dogecoin

Not too long after much selling produced a bearish candle, which brought price down. DOGE/USD price is already taking off towards higher resistance. Dogecoin...