Key Points
- President Biden’s crypto policies, including the veto of the SAB 121 repeal, have stirred controversy in the crypto community.
- Anthony Scaramucci, founder of SkyBridge, supports Biden and highlights Bitcoin’s growth during his administration.
President Joe Biden’s recent crypto policies have been met with significant backlash from the crypto community.
One decision that has drawn widespread criticism is Biden’s veto of the repeal of Staff Accounting Bulletin 121 (SAB 121).
SAB 121 Controversy
SAB 121, the SEC’s controversial accounting guidelines, has been critiqued for discouraging large-scale cryptocurrency custody services by investment banks.
Scaramucci’s Support for Biden
Despite the controversy, Anthony Scaramucci, founder of SkyBridge, believes Biden is the best choice for the upcoming election, even for crypto voters.
In a recent conversation on the “Unchained” podcast, Scaramucci expressed his support for Biden, stating his belief that Biden is the right choice for America in the long term.
Scaramucci also noted that Trump was very negative on Bitcoin and digital assets while president, but has since done a 180 because he wants your vote.
He highlighted Bitcoin’s growth during Biden’s administration, stating that Bitcoin has gone from $17K to $70K in the Biden Administration.
Scaramucci’s Viewpoint
Scaramucci’s viewpoint is further supported by data from one of Polymarket’s prediction markets’ data on the 2024 ‘Presidential Election Popular Vote Winner’, where Biden is favored with a 56% chance compared to Trump’s 36%.
However, in another Polymarket prediction market for the ‘Presidential Election Winner in 2024’, Trump leads with a 60% probability, overshadowing Biden’s 34%.
As the election outcome is awaited, it will be interesting to see the eventual winner.
In the meantime, Scaramucci maintains that despite past criticism, Trump is being opportunistic with his stance on crypto just to enhance his electoral prospects.
