United States Is Throwing Away Its Advantage In Crypto, Claims Brian Armstrong As ‘Embarrassed’ Authorities Try To Clamp Down

According to Coinbase CEO Brian Armstrong, U.S. senators are “squandering” crypto prospects because they are still reeling from last year’s FTX crash.

“The United States is throwing away a head start, partly because SBF (Sam Bankman-Fried) has humiliated certain politicians and authorities who now want to seem tough on cryptocurrency.

On the other hand, pretty much everyone else has moved on, and FTX is not widely addressed in the UK, UAE, or anywhere else. The simple implementation of reasonable regulations, which will safeguard customers and end problems like this, is the solution to the problem.

Before his crypto company collapsed, disgraced FTX CEO Sam Bankman-Fried was a generous political contributor.

It has been alleged that he contributed over $40 million in only the most recent election cycle. In December, The Verge published a story stating that three Democratic Party campaign organisations that received funds from Bankman-Fried would repay more than $1 million worth of political donations. He is said to have given just in that most recent election cycle.

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