Ark Invest CEO Cathie Wood recently announced her intention to vote for former US President Donald Trump in the upcoming November elections. In an interview with financial analyst Kevin Paffrath, Wood stated that she will vote for the candidate who she believes will do the best for the economy, and based on that criterion, she supports Trump. Wood’s decision was influenced by economist Arthur Laffer’s assessment of the first three years of the Trump presidency as the best in US economic history.
Wood’s endorsement of Trump adds to a growing list of prominent figures from the crypto industry who have publicly supported the former President. Trump has recently taken a more favorable stance towards crypto and has promised to support the industry and end the Biden administration’s perceived “war on crypto” if re-elected. He has also pledged to make the US a Bitcoin mining powerhouse and has referred to the cryptocurrency as a potential last line of defense against central bank digital currencies (CBDCs).
The issue of crypto has become increasingly important for American voters in this election cycle, with many expected to vote for Trump in November due to concerns about the Biden administration’s policies towards the industry. Trump has received endorsements from other notable figures in the crypto space, such as Gemini co-founders Tyler and Cameron Winklevoss, who donated $1 million each in Bitcoin to his campaign and expressed their support for his pro-crypto stance. Venture capitalist David Sacks has also endorsed Trump for re-election, citing concerns about the Biden administration’s handling of the economy.
According to Polymarket data, Trump currently has a 57% chance of winning the election, while Biden’s chances are at 34%. As the election draws near, the endorsements from influential figures like Cathie Wood, Tyler and Cameron Winklevoss, and David Sacks could potentially sway more voters towards supporting Trump. The upcoming November elections will be closely watched by the crypto industry, as the outcome could have significant implications for its future development and regulation in the United States.
In conclusion, Cathie Wood’s decision to vote for Donald Trump based on his perceived economic policies reflects a growing trend of support for the former President from figures in the crypto industry. Trump’s promises to support crypto and his criticisms of the Biden administration’s approach to the industry have resonated with many voters, leading to a significant number of endorsements from prominent crypto stakeholders. As the election approaches, the endorsements from Wood, the Winklevoss twins, and David Sacks could potentially impact the outcome and shape the future of the crypto industry in the US. Voters will have to weigh Trump’s economic positions against other issues at stake in the election when deciding who to support at the polls in November.
