Skybridge Capital founder Anthony Scaramucci says Donald Trump's meme coin activity poisoned public trust in crypto at exactly the wrong moment, even as he sees Bitcoin (CRYPTO: BTC) reaching a $10 trillion market cap.
How Trump 'Karate Chopped' Crypto's Momentum Scaramucci made the case on The Wolf Of All Streets podcast that crypto was building genuine public goodwill heading into Trump's inauguration, then lost it almost immediately.
"We were getting a love affair growing with the people and then Trump came in and he karate chopped that with the meme coin and some of the nefarious activity," Scaramucci said.
"People now smell corruption in our industry as opposed to usability and utility," he added.
He compared crypto's situation to Uber's (NYSE:UBER) early battles with taxi commissions and city governments — the technology was better, the public wanted it, but the people in power worked against it.
