Cathie Wood: Meme coins like Trump may lack practicality, but they help promote cryptocurrencies to new audiences

Odaily Planet Daily News Cathie Wood, CEO of ARK Invest, conducted an in-depth analysis of how Trump's return to the White House will change the cryptocurrency landscape. She noted that recent appointments and market developments indicate that the Trump administration is friendly to cryptocurrencies. She also praised Paul Atkins' appointment as chairman of the U.S. SEC, calling him "supportive of cryptocurrencies" and expecting that digital asset regulation (or deregulation) will unfold under his leadership. Speaking of the emergence of Trump-themed Meme coins such as "Official Trump", Wood compared it to the 2017 IC0 movement. She said that while these tokens may lack direct utility, they help introduce cryptocurrencies to new audiences. She compared it to the early days of Internet applications, when extensive investment in infrastructure ultimately led to technological progress. When discussing specific cryptocurrency investments, Wood emphasized that ARK focuses on the "big three" - Bitcoin, Ethereum and Solana - rather than Meme coins. She emphasized that ARK's ARKB is one of the larger spot Bitcoin ETFs, while maintaining investments in Ethereum and Solana through private funds. Wood expressed optimism about Trump's economic agenda, explaining how the new administration is turning "fear into optimism" and that deregulation is "unleashing animal spirits." ARK's investment strategy has begun to show positive momentum as risk appetite increases. However, Wood stressed that their fundamental approach to investing in innovation remains unchanged. Overall, Wood believes that the combination of political support from the Trump administration, regulatory clarity, and market changes could accelerate cryptocurrency adoption. (crypto.news)