Billionaire investor Bill Ackman believes “crypto is here to stay” despite FTX's impact on the industry, but said fraudulent actors need to be exposed and eliminated.
Billionaire investor and hedge fund manager Bill Ackman says he remains bullish about cryptocurrencies, despite the recent collapse of the FTX cryptocurrency exchange and the market turmoil that’s followed it., the CEO and founder of hedge fund management firm Pershing Square Capital Management said he believes “crypto is here to stay” despite recent challenges, though there’s a need to increase oversight and remove “fraudulent actors” in the space.
However, Ackman said that like the invention of the telephone and the internet, the technology improves on the next in terms of its ability to facilitate fraud: “All legitimate participants in the crypto ecosystem should therefore be highly incentivized to expose and eliminate fraudulent actors as they greatly increase the risk of regulatory intervention that will set back the positive potential impact of crypto for generations.”
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