Bloomberg Tech Bitcoin's Big Surge, Tech Takes on Geopolitics
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Dec 5, 2024 Rebecca Lynn, co-founder of Canvas Ventures, dives into the evolving landscape of startup valuations and what it means to be a unicorn today. She discusses the rise of Bitcoin, fueled by pro-crypto sentiments with Paul Atkins likely heading the SEC. Political uncertainties in France are explored, highlighting their effects on startups. The conversation also touches on the impact of Generative AI on business, the challenges unicorns face in achieving profitability, and the importance of clear regulations in the ever-evolving tech and crypto markets.
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Bitcoin Surge and SEC Chair
- Bitcoin surged past $100,000 due to positive sentiment, including SEC chair announcement.
- Paul Atkins, a pro-crypto advocate, is President-elect Trump's pick to lead the SEC.
Atkins's Impact on Crypto
- Paul Atkins's SEC appointment is positive for the crypto industry due to his experience and collaborative approach.
- He is expected to improve dialogue and collaboration between regulators and the crypto industry.
Crypto Regulation
- The crypto industry seeks regulatory clarity, not an absence of regulation.
- Enforcement actions are costly and limited, while clear regulations benefit the entire industry.