Billionaire investor Bill Ackman says 'crypto is here to stay'
Bill Ackman's crypto sentencing comes as much of the community tries to regain faith in the industry following the fallout of the FTX.
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Billionaire investor and hedge fund manager Bill Ackman says he remains optimistic about cryptocurrencies, despite the recent collapse of cryptocurrency exchange FTX and subsequent market turmoil .
In a November 20 Twitter thread, the CEO and founder of hedge fund management firm Pershing Square Capital Management said he believes "crypto is here to stay" despite recent challenges, although there is a need for increased surveillance and weeding out "fraudulent actors". ” in space.
Bill Ackman is a billionaire American investor who recently called for regulatory barriers to be removed and regulations to be relaxed in New York in order to make the city a crypto hub. He is also a direct investor in a number of crypto projects.
"I believe crypto is here to stay and with proper oversight and regulation, it has the potential to greatly benefit society and grow the global economy," he said.
p>However, Ackman said that like the invention of the telephone and the internet, technology improves the following in terms of its ability to facilitate fraud:
“The problem with crypto is that unethical promoters can create tokens simply to facilitate pump and dump schemes. It may actually be that the vast majority of cryptocurrencies are used for fraudulent purposes rather than to build legitimate businesses.”
That being said, Ackman said that with proper oversight from industry leaders, these "fraudulent actors" can be weeded out:
“All legitimate participants in the crypto ecosystem should therefore have a strong incentive to expose and weed out fraudulent actors, as they greatly increase the risk of regulatory intervention that will reduce the potential positive impact of crypto for generations."
The investor also said that while he was initially a "crypto-skeptic", he now sees it as having "the potential to greatly benefit society and grow the global economy", a- he said, adding:
"I was initially a crypto skeptic...
Bill Ackman's crypto sentencing comes as much of the community tries to regain faith in the industry following the fallout of the FTX.
New
Billionaire investor and hedge fund manager Bill Ackman says he remains optimistic about cryptocurrencies, despite the recent collapse of cryptocurrency exchange FTX and subsequent market turmoil .
In a November 20 Twitter thread, the CEO and founder of hedge fund management firm Pershing Square Capital Management said he believes "crypto is here to stay" despite recent challenges, although there is a need for increased surveillance and weeding out "fraudulent actors". ” in space.
Bill Ackman is a billionaire American investor who recently called for regulatory barriers to be removed and regulations to be relaxed in New York in order to make the city a crypto hub. He is also a direct investor in a number of crypto projects.
"I believe crypto is here to stay and with proper oversight and regulation, it has the potential to greatly benefit society and grow the global economy," he said.
p>However, Ackman said that like the invention of the telephone and the internet, technology improves the following in terms of its ability to facilitate fraud:
“The problem with crypto is that unethical promoters can create tokens simply to facilitate pump and dump schemes. It may actually be that the vast majority of cryptocurrencies are used for fraudulent purposes rather than to build legitimate businesses.”
That being said, Ackman said that with proper oversight from industry leaders, these "fraudulent actors" can be weeded out:
“All legitimate participants in the crypto ecosystem should therefore have a strong incentive to expose and weed out fraudulent actors, as they greatly increase the risk of regulatory intervention that will reduce the potential positive impact of crypto for generations."
The investor also said that while he was initially a "crypto-skeptic", he now sees it as having "the potential to greatly benefit society and grow the global economy", a- he said, adding:
"I was initially a crypto skeptic...
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