Carlyle Group co-founder David Rubenstein is still watching the cryptocurrency space despite the market plunge this year. The billionaire investor said he’s not just interested in tokens, but companies working in the space. Rubenstein added that he expects the US government to be tactful about crypto regulation. Here are the details…
Billionaire invests in cryptocurrency
Billionaire David Rubenstein stated that he personally invests in companies working in the cryptocurrency industry. He said he is optimistic that government regulations won’t put the brakes on the industry. Rubenstein told CNBC’s Squawk Box on Thursday that the market had been “significantly hit.” Despite this, he said he is optimistic about the future of the field as the younger generations seek to develop and encourage new ideas.
“Young people tend to have the intelligence and energy to start trends,” Rubenstein said. The billionaire remains positive in the crypto outlook. He said he thinks “blockchain-related investments and crypto-related things will be with us for a while.”
Arrangements will be neutral
Rubenstein also expects the US Congress to have a neutral approach when regulating the space. It dispels fears of other industry watchers that regulators could curb innovation and shrink the market. “Crypto constituencies tend to be very strong in congress and very Republican or very libertarian,” Rubenstein said. “The industry is unlikely to be soft when dealing with members of Congress,” he said. Rubenstein also commended FTX founder Sam Bankman-Fried for stepping up to help the crypto industry. He also congratulated his efforts to inject liquidity into faltering businesses.
As we reported on Kriptokoin.com, in December 2020, blockchain infrastructure provider Paxos raised $142 million in Series C funding led by Declaration Partners, the investment advisor of Rubenstein’s family office. Rubenstein co-founded the Carlyle Group in 1987. It has $167 billion in assets under the management of a private equity firm and over 270 active companies in its portfolio. At the time of writing, his real-time net worth was estimated at $3.3 billion by Forbes.
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