Now that incoming US President Donald Trump is warming up for his second administration, many in the crypto industry expect big things for tech and crypto. According to Cathie Wood of Ark Investment Management, Trump’s win will spur innovation in artificial intelligence, tech, and cryptocurrencies.

In an interview with CNN’s Inside Politics Sunday, the Ark Investment CEO shared her thoughts about Securities and Exchange Commission Chairman Gary Gensler’s restrictive policies on crypto, which, according to her, nearly knocked the country from the global cryptocurrency map.

Wood said that the US lost its footing in digital currency, and Trump’s presidency will create meaningful developments in various sectors.

US Must Focus On Top Technologies, Like Crypto And AI

Cathie Wood states that overregulation is the country’s primary enemy of tech and innovation. She argues that Gensler’s aggressive regulation policy on crypto has caused many talents to leave the country. She adds that this is about to change, with the new administration approving friendly regulations on bitcoin and generative AI.

Image: ReBlonde

Wood shared that five major technologies are shaping our world: cryptocurrency, energy storage, and multiomics. She explained that the US must develop and lead these technologies.

In the same CNN interview, she shared that the concentration was on a few stocks in the last four years. However, with Trump returning to office, she expects more significant gains for companies pushing innovation.

A Regulatory Reset Will Help US Tech & Crypto

According to Cathie Wood, the SEC’s overregulation has particularly damaged cryptocurrency. Gensler’s approach and public statements have stifled innovation, according to Wood. And with the possibility of loose regulations on the horizon, Wood expects that smaller players in emerging industries can have their chan

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Author: Christian Encila