Private equity billionaire Marc Rowan, who has emerged as a contender for the Treasury Secretary post, has openly admitted to being “out of my depth” when it comes to understanding cryptocurrency’s role in the U.S. financial system.
What Happened: In a recent podcast with economist Tyler Cowen, the CEO of Apollo Global Management reflected on the complexities of cryptocurrency within the financial sector.
Rowan criticized the limited understanding of crypto among prominent figures, including potential policymakers.
He said, “Out of my depth. Absolutely no idea,” when asked directly about crypto’s future role in the U.S. financial system.
Rowan further highlighted the potential for stablecoins and on-ramps to streamline the financial system but dismissed the relevance of alternative currencies in a regulated environment.
“I see …
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