Government Regulation would Benefit The Sector
The Carlyle Group co-founder David Rubenstein said on September 2 that he has personally invested in many bitcoin companies. Rubenstein is optimistic that the sector will ultimately be regulated in the US. The billionaire said in an interview on Thursday that he believed government regulation would be advantageous to the industry and that the U.S. Congress would take a cooperative approach to support the nation’s innovation-friendly environment.
He stated that the crypto constituency is really powerful in congress and they tend to be either Republican or very libertarian. The corporate community is unlikely to be amenable to members of Congress. Rubenstein apparently changed his attitude about cryptocurrency months ago after previously being dubious. He has not purchased cryptocurrencies, but he has purchased firms that support the sector because he thinks the genie is out of the bottle.
167 Billion Dollar Asset Management
On Thursday, Rubenstein reaffirmed his new viewpoint, adding that some of the blockchain-related investments and things linked with cryptocurrency are going to remain with us for a long time. He added that young individuals frequently possess the insight and vigor necessary to launch trends.
Paxos, a supplier of blockchain technology, secured $142 million in Series C fundraising in December 2020, with the help of Declaration Partners, a financial adviser to Rubenstein’s family office. In 1987, Rubenstein co-founded The Carlyle Group. More than 270 active firms are part of the private equity firm’s portfolio, which is managed at $167 billion in assets. According to Forbes, his current net worth was $3.3 billion at the time of publishing.
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