SkyBridge Capital founder Anthony Scaramucci on Monday cast doubt on the crypto industry’s high hopes for President Donald Trump, suggesting his promises of regulatory relief may be a “mirage.”
What Happened: “Sometimes in the desert, when you see the oasis, there could be a mirage,” Scaramucci said, suggesting that the initial optimism in the cryptocurrency industry over a change of course from the Biden administration may not be fulfilled.
Scaramucci pointed to several factors supporting his view.
He highlighted Trump’s launch of the Trump (CRYPTO: TRUMP) meme coin shortly before assuming the presidency, which signals a lack of focus on the industry’s needs.
The Danger of Trump Tariffs
Scaramucci expressed concern over the president’s “capricious” moves on trade, particularly the imposition of substantial tariffs on Canada, Mexico and China without any clear conditions or context. ‘
This uncertainty, he argued, is deeply unsettling for markets, which thrive on predictability and stability.
“Markets hate lack of predictability. Markets hate uncertainty. Markets love tranquility,” he said, adding that the president’s decisions have created an environment of unease.
Scaramucci also noted that markets …
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