On September 18, in an interview with CNA’s Asia First, Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, shared his views on the upcoming US elections and their potential impact on the cryptocurrency market. Scaramucci expressed concerns about Donald Trump’s latest venture, World Liberty Financial, a cryptocurrency project that he said could harm the sector and Trump’s political standing. He described the move as a “violation of norms,” noting that this is the first time a presidential candidate has launched a venture of this nature so close to election day. Scaramucci speculated that this could be seen as a way for Trump to generate profits in a questionable manner, which could harm his credibility.
Scaramucci acknowledged Trump’s early efforts to promote cryptocurrencies, noting that the former president’s stance had previously pushed some Democrats toward more crypto-friendly policies. However, Scaramucci said the new venture undermines those efforts. He warned that the project could lead to a “pump-and-dump” situation, harming individual investors and the industry’s reputation.
Touching on the broader political landscape, Scaramucci suggested that the outcome of the election could influence the future of cryptocurrency regulation. He expressed skepticism toward reports predicting Bitcoin price fluctuations based on who wins the election. While some analysts have speculated that a Trump victory could send Bitcoin prices to $90,000 and that a Kamala Harris victory could send them to $30,000, Scaramucci refuted that narrative. Instead, he predicted that Harris, if elected, would support a more balanced regulatory approach, potentially paving the way for stablecoin legislation that could be favorable to both the U.S. dollar and the cryptocurrency industry.
In endorsing Harris, Scaramucci pointed to her strong campaign strategy, strong fundraising efforts and better organized field operations than the Trump campaign. He noted that Harris’s lead in financial resources and poll numbers, combined with overall voter registration numbers favoring Democrats, made her the likely winner in his eyes.
Asked about potential surprises in the election, Scaramucci pointed to Trump’s erratic behavior, citing controversial statements and alliances with problematic figures. He believes such behavior will eventually wear down American voters, leading them to seek a more stable and predictable leader in Harris.
Regarding the implications of this election for Asia, Scaramucci argued that US stability was crucial for the region. He suggested that Harris represented a more consistent and reliable approach to governance, which would be beneficial for international relations and economic growth. In contrast, Trump’s unpredictability was seen as an obstacle to global stability.
