Former U.S. President called cryptocurrency “a disaster waiting to happen”

In a Fox Business interview released today, former US President Donald Trump was asked about his views on the health of the Wall Street market, the progress of the current government, and the potential of the Bitcoin and cryptocurrency markets.

In answering the latter question, the former president said: “I like American currency, but I think other currencies may be a disaster waiting to happen.” He continued:

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

He also talked about protecting the sovereignty of the U.S. dollar as the top priority, rather than advancing a stagnant financial system and seizing the overwhelming benefits that encryption and blockchain technology must provide.

Despite these less favorable comments, the price of crypto did not appear to be affected at the time of release. Bitcoin (Bitcoin) Fell 1.17% that day, and Ethereum (Ethereum) Rose 6.30%, while the third-ranked asset Cardano (Have) Fell 1.1%.

In contrast, the current US President Joe Biden has taken a seemingly more favorable stance on the cryptocurrency field, but he remains cautious.

Earlier this year, President Biden appointment Gary Gensler, former chairman of the Commodity Futures Trading Commission (CFTC), is the new head of the Securities and Exchange Commission (SEC).

Related: According to reports, the SEC signed a contract with a blockchain analysis company to monitor the DeFi industry

So far, Gensler has adopted a strict regulatory approach, focusing on striking a balance between helping innovation and protecting the interests of market participants.

Earlier this month, Gensler Express He believes that the market needs “additional powers to prevent transactions, products and platforms from falling into regulatory loopholes” and “more resources to protect investors in this growing and turbulent industry.”