Former blockchain skeptic David Rubenstein discloses investments in crypto companies

David Rubenstein, co-founder of Carlyle Group, acknowledged that he had invested in several crypto companies personally on Sept. 2. He is optimistic about the industry’s future and the path to regulation in America.

The billionaire spoke to CNBC’s Squawk Box Thursday and stated that he believes government regulation will be a positive thing for the industry. He also said that the U.S. Congress would adopt a collaborative approach in order to foster innovation in the country.

He noted that the crypto constituency in Congress is strong and tends to be very Republican or very libertarian. “The industry is unlikely to be soft when it comes to dealing with members of Congress.”

Rubenstein, who was previously skeptical about cryptocurrency, reportedly changed his mind several months ago. Rubenstein stated that he had not purchased cryptocurrencies but that he has bought service companies because he believes the genie is out the bottle.

Rubenstein reiterated Thursday’s new perspective, saying that “some of the crypto-related investments and things will be with us for some while.” He also added:

“Young people have more intelligence and energy than older people to get the trends started.”

Paxos, a blockchain infrastructure provider, raised $142 Million in Series C financing led by Declaration Partners. This was in December 2020. Declaration Partners is an investment advisor to Rubenstein’s family.

In 1987, Rubenstein founded the Carlyle Group. The private equity firm manages $167 billion and has over 270 companies in its portfolio. Forbes estimated his net worth at $3.3 billion as of press time.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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