Now, as fresh US President Donald Trump prepares for his second administration, many in the crypto industry are expecting gigantic things for technology and cryptocurrencies. According to Cathie Wood of Ark Investment Management: Trump’s victory will spur innovation in artificial intelligence, technology and cryptocurrencies.
In an interview on CNN’s Inside Politics on Sunday, Ark Investment’s CEO shared her thoughts on Securities and Exchange Commission Chairman Gary Gensler’s restrictive cryptocurrency policies, which she believes have all but knocked the country off the global cryptocurrency map.
Wood said the United States has lost its foothold in digital currency and a Trump presidency will result in significant developments in various sectors.
The US needs to focus on the best technologies, such as cryptocurrencies and artificial intelligence
Cathie Wood says over-regulation is the country’s main enemy of technology and innovation. She claims it Aggressive Gensler regulation Cryptocurrency policies have caused many talents to leave the country. He adds that this will change soon because the fresh administration will approve warm regulations regarding bitcoin and generative artificial intelligence.
Image: ReBlonde
Wood said five major technologies are shaping our world: cryptocurrency, energy storage and multi-omics. She explained that the US must develop and lead these technologies.
In the same CNN interview, she said there had been a focus on a few companies over the past four years. However, once Trump returns to office, he expects greater profits for companies that promote innovation.
Regulatory reset will support US technology and cryptocurrencies
According to Cathie Wood, the SEC’s over-regulation has been particularly damaging cryptocurrency. According to Wood, Gensler’s approach and public statements stifled innovation. And with the possibility of relaxed regulations on the horizon, Wood expects smaller players in emerging industries will have their opportunities.
As of today, the market cap of cryptocurrencies stood at $3.32 trillion. Chart: TradingView
Wood used the interview to highlight cryptocurrency’s experience with Gensler’s policies. She said the industry faces challenges and the U.S. needs to leverage the technology before other countries pass it up.
However, a second Trump presidency will reduce the SEC’s influence. The Administration intends to expand the role of the Commodity Futures Trading Commission (CFTC) to reverse SEC overregulation.
Society should expect changes during Trump’s second term
Wood also discussed other possible economic issues and policies, including Trump’s tariff threats. She believes these tariffs, while aggressive, still make sense, especially when combined with tax cuts that will support businesses stay competitive. The combination of tariffs and tax cuts could support spur innovation across sectors.
The market responds positively to these plans, and many investors transfer their investments to smaller, dynamically developing companies. On the digital currency side Bitcoin still leads the market, and the tested price exceeds 100,000. dollars.
Featured image from The Australian, chart from TradingView
