SEC Chair Gensler 'has been a menace' for crypto: Cathie Wood
ARK Investment Management CEO and CIO Cathie Wood joins Market Domination Overtime Hosts Julie Hyman and Josh Lipton to discuss her market outlook after former President Donald Trump's reelection. "With the new administration, we're going to see a logjam open up here and really let innovation thrive. I think top of mind is regulation. We know that [Securities and Exchange Commission] Chairman [Gary] Gensler has been a menace to the world of digital assets and was driving a lot of that innovation into other countries. I think that's going to change," Wood tells Yahoo Finance. Along with Gensler, Wood says she also believes Federal Trade Commissioner Lina Khan is on her way out under the Trump administration. "That will break the logjam in M&A. I think venture capital has been harmed dramatically in the last few years, for lack of liquidity events. Liquidity events, very importantly, involve mergers and acquisitions, and those ground to a halt even in mergers or deals where the two companies were not competing with each other. It might have been just tangential. So that's that's huge." She adds that "tax cutting is going to unleash animal spirits" and will help offset tariff increase, though she notes she doesn't expect the tariff increase to be "extreme." "I'm feeling very much like I did very early in my career, in the days of the Reagan administration," Wood says, adding that Reagan was also focused on tax cuts and deregulation. Watch Cathie Wood's full interview with the Yahoo Finance team here. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Naomi Buchanan.
