Donald Trump and Ken Griffin slam crypto as ‘jihadist call’ against the US dollar
Former US President Donald Trump and Hedge Fund billionaire Ken Griffin have recently slammed digital currencies as a “threat” to the United States.
Also, the founder of Citadel LLC ($38 billion hedge fund), Griffin, has reportedly told the Economic Club of Chicago on October 4 that cryptocurrencies are a “jihadist call” for not believing in the dollar.
Griffin has also expressed great dismay over the American youth working on dollar alternatives in the crypto sector., saying that it is a “crazy concept” that so many “talented” and “bright, young people” are working to establish a replacement of the reserve currency.
At the event, Griffin also stressed that all the “passion” and “energy” the youth is diverting to the crypto sector could be “directed towards making the United States stronger.”
However, he hasn’t shown any opposition to making money from the crypto industry in the near future. He added that Citadel hasn’t yet plunged other hedge funds and traditional financial institutions into cryptocurrencies because of “lack of regulatory certainty.”
Griffin further saif that the US Securities and Exchange Commission Chairman Gary Gensler had made “spot-on” comments in August, while saying that if crypto is to achieve its full potential, it musty come with “ public policy frameworks.”
He had also said that with a regulatory framework in place, crypto markets would become smaller because it would turn into a far more competitive market with established regulatory clarity.
Meanwhile, at an interview on October 5 with yahoo Finance’s Adam Shapiro, Former US President Donald Trump has said that the Chinese digital yuan is a threat to US Dollars.
Speaking on China’s moves to ban crypto led by Xi Jinping, Trump has said the clampdown is a part of Jinping’s plans to squash competition because he works only on “his own currency, whether it’s crypto or otherwise.” He suggested that the US government should also pursue the same.
Trump iterated that he is “a big fan” of the US dollars and no other currencies should “hurt” or “demean” the dollar “in any way.” He stated that if one looks at the monetary systems through the dollar and then start losing credibility, all of a sudden, they would start losing the strong monetary system.
Trump further said that the US government’s “horror show” at the Mexican border, as well as its pull back from Afghanistan, has affected the credibility of the dollar.
Back in August, Trump had said that cryptocurrencies were “potentially a disaster waiting to happen”, questioning whether digital assets were “fake”.