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Ark Invest CEO Cathie Wood Endorses Trump, Cites Economic Record

source-logo  coinedition.com 24 June 2024 07:32, UTC

Cathie Wood, CEO of Ark Invest, has announced her intention to vote for Donald Trump in the upcoming U.S. presidential election, citing economic reasons for her choice. Wood made this declaration at a recent Las Vegas conference, which featured prominent financial experts, including Kevin Paffrath, a well-known financial content creator

During her address, Wood focused on voting strictly from an economic perspective. She referenced the economic performance of the United States during the initial three years of Trump’s presidency before the onset of the COVID-19 pandemic, which she called the best in U.S. economic history. Her comments align with those of economist Arthur Laffer, who previously advised Trump during his 2016 campaign.

Wood’s support for Trump is noteworthy, especially considering her firm’s pioneering role in getting cryptocurrency into mainstream investment portfolios. Ark Invest was one of the first to include bitcoin in an ETF back in 2015 and has since expanded its investments into other crypto-related companies, including Coinbase.

Meanwhile, Trump has recently expressed greater acceptance of cryptocurrency, suggesting a potential alignment between his economic policies and the interests of the crypto community.

In related news, notable crypto figures Cameron and Tyler Winklevoss have also shown their support for Trump, contributing $2 million worth of Bitcoin to his campaign; albeit, the Gemini co-founders exceeded their contributions limit through their crypto donations.

As the U.S. prepares for the presidential debate between Biden and Trump on June 27, cryptocurrency’s role in campaign finance and economic strategy has become significant talking points. This trend underscores the growing influence of digital assets in American politics and the economy.

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