The billionaire took to CNBC's SquawkBox on Thursday, arguing that regulation will have a positive impact on the industry and that the U.S. Congress will take a cooperative approach to boost the country's innovation environment.
[Crypto constituencies in Congress are very strong, and they tend to be very Republican [or] very liberal," he noted. "The industry is unlikely to be weak when it comes to dealing with members of Congress."
Rubinstein was reportedly skeptical of digital currencies and changed his mind a few months ago. He told me on the Colossus podcast, [I`m not buying digital currencies, but I`m buying companies that serve the industry because I think the genie is out of the bottle."
Rubenstein reiterated his new perspective on Thursday, saying, [Some blockchain-related investments and crypto are likely to be with us for a while." He added:
"Young people usually have the wisdom and energy to lead fashion."
In December 2020, Paxos, a blockchain infrastructure provider, raised $4.2 billion in Series 1.C financing, led by Declaration Partners, the business consulting firm of the Rubenstein family office.
Rubinstein co-founded The Carlyle Group in 1987. The private equity firm has $167 billion in assets and its financial planning includes more than 270 active companies. Forbes estimates his immediate net worth at $3.3 billion.
