Key Takeaways
- American investor Cathie Wood has claimed that the “deregulation” of the SEC will likely “turbocharge” the country’s economy.
- The ARK Invest CEO slammed SEC Chairman Gary Gensler as a “menace to the world of digital assets.”
- Wood reiterated that Bitcoin was “very much a part of this administration’s plans.”
ARK Invest founder Cathie Wood predicted a “changing of the guard” at the United States Securities and Exchange Commission (SEC), and now Donald Trump has been elected president.
The American investor slammed the U.S. regulator as a “menace” and claimed that a change in its leadership would increase innovation and boost the country’s wealth.
Cathie Wood Wants a Change in Leadership
In a stark prediction, Wood said that deregulating and defanging the SEC, Federal Trade Commission (FTC), and other regulatory bodies would likely “turbocharge the U.S. economy.”
“Deregulation, defanging the SEC, FTC, and others, government spending cuts, tax cuts, and a focus on technologically enabled innovation are likely to turbocharge the U.S. economy,” Wood told Yahoo in a video posted on X.
Wood claimed that SEC Chairman Gary Gensler had been pushing a lot of innovation “into other countries” because he was a “menace to the world of digital assets.”
“I think that’s going to change,” Wood said.
The CEO said that following Trump’s presidential victory, the country now has more clarity “in terms of the investment landscape.”
Increase in Innovation
Following up on her significant predictions, Wood believed that Trump was taking the country back to equity investing’s “golden age” of the 1980s and 1990s.
“I’m feeling very much like I did very early in my career, in the days of the Reagan administration,” Wood said.
This will bring around an “explosion in productivity growth,” Wood said.
Major technologies will benefit from the innovation, the three biggest being digital assets, autonomous mobility, and healthcare.
Bitcoin Backing
Trump is “very positively predisposed certainly to Bitcoin, but we think everything, crypto, DeFi, and that’s going to be very exciting,” Wood said.
The CEO reiterated how Bitcoin is “very much a part of this administration’s plans, including building a strategic reserve, and we’re very excited about that.”
During his 2024 campaign, Trump positioned himself favorably toward crypto, a departure from his previous skepticism during his last presidency.
Among his most striking proposals is creating a “strategic Bitcoin reserve” for the U.S. and firing SEC chair Gensler.
The moves are aimed at eliminating regulations he views as restrictive.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
