Bill Ekman: "Cryptocurrencies can bring huge benefits"

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The founder and CEO of Pershing Square Capital Management, Bill Ackman, is positive about the future of the cryptocurrency industry, and even the collapse of the FTX exchange did not change his opinion.

Billionaire, investor and CEOAmerican hedge fund management company Bill Ackman said he believes in the ability of cryptocurrencies to “bring great value to the public.” At the same time, it is necessary that the industry continues to get rid of scammers and bad businessmen.

“I was originally a cryptocurrency skeptic.but then studied some of the most interesting projects. I have come to the conclusion that cryptocurrencies can help create useful businesses and technologies. I think cryptocurrencies are here to stay and, with proper regulation, this industry can bring enormous benefits to society and grow the global economy,” Ackman said.

He added that all bona fide participantsindustries should be motivated to identify and eliminate fraudulent schemes, as such companies greatly increase the risk of harsh regulatory action. Ackman said that he invested money in several crypto projects. However, the share of investments does not exceed 2% of his total portfolio.

At the beginning of the year, Bill Ackman called on New York authorities to remove existing barriers to the development of the cryptocurrency industry.