Autor Cointelegraph By Ezra Reguerra

Digital Asset co-founder and CEO Yuval Rooz said the crypto industry should use the current regulatory environment to accelerate institutional adoption, arguing that widespread use of blockchain could make it harder for future administrations to reverse the industry’s progress.Speaking at Token2049 in Singapore, Rooz said the industry should make blockchain so widely used that whatever happens in 2028, “there is no going back.” The next US presidential election, which could bring a change in administration and regulatory priorities, is scheduled for Nov. 7, 2028. He compared the opportunity to Uber and Airbnb, where he argued both services became entrenched before policymakers could effectively restrict them. “By the time people got their act together and decided, OK, we wanna legislate against those companies, it was too late,” Rooz said. The comments come after the CLARITY Act failed to advance in the Senate procedural vote in September. The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have pushed ahead with crypto regulations under their existing authority.Digital Asset co-founder and CEO Yuval Rooz at Token2049. Source: Mirra Ridzuan/CointelegraphIn the same Token2049 panel, Binance co-CEO Richard Teng said he hoped the CLARITY Act would still become law, arguing that legislation could prevent regulatory backtracking and encourage institutions to enter the market. He described the possibility of reversing current progress as “the biggest fear” for the industry.Meanwhile, Franklin Templeton CEO Jenny Johnson said legislation would provide greater certainty but cautioned that the industry should not rely on the CLARITY Act passing. She said the SEC and CFTC were already working to provide regulatory clarity, allowing innovation and institutional adoption to continue.Related: Bitmine sets 5% Ether supply ‘hard cap’ as accumulation target nearsCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

BingX chief strategy officer Kevin Lee says wealthy “old money” investors are taking a longer-term approach to Bitcoin (BTC) than many crypto-native traders.In a Token2049 fireside chat with Cointelegraph head of multimedia Ciaran Lyons, Lee said he deals with “a lot of old money” seeking alternative investments.“They have stronger diamond hands than any of us,” Lee said.He added that Bitcoin has grown large enough that wealthy investors are increasingly looking at it as a way to diversify a portfolio rather than expecting it to “go 10x in two weeks.”Lee described wealthy investors as a largely untapped source of crypto capital, saying their buy-and-hold approach could make Bitcoin a portfolio diversifier for more investors. But data on family offices suggests that broader adoption remains limited.Cointelegraph’s Ciaran Lyons (left) and BingX CSO Kevin Lee (right) at Token2049 Singapore. Photo: Aubrey Paller/CointelegraphWealthy crypto investors lean long term, but adoption remains limitedSome affluent investors increasingly cite long-term appreciation and diversification as reasons for holding crypto.Lee said Bitcoin’s growth has made it more viable as a portfolio diversifier, giving the example of an investor allocating 5% to gold and another 5% to Bitcoin rather than looking for rapid returns.Recent data suggests affluent investors who already hold crypto are taking a longer-term view of the asset class. On Monday, a CoinShares survey of 2,230 investors with at least $500,000 in investable assets found long-term appreciation and diversification were the leading reasons for investing in crypto, while short-term speculation ranked last. Bitcoin was held by 80% of digital asset investors surveyed.Related: BitMine sets 5% Ether supply ‘hard cap’ as accumulation target nearsStill, crypto remains far from a standard allocation among wealthy families. A JPMorgan report published in February, based on a survey of 333 single-family offices across 30 countries, found that 89% had no cryptocurrency exposure, while their average allocation to crypto and digital assets was just 0.4%. Just 17% of respondents viewed crypto and digital assets as a key investment theme.Magazine: US crypto rules need to survive the next electionCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

BitMine Immersion Technologies will cap its Ether holdings at 5% of the cryptocurrency’s supply, according to Chairman Tom Lee.Speaking during a keynote at Token2049 in Singapore on Wednesday, Lee said BitMine is nearing the threshold after accumulating roughly 6 million Ether, equivalent to about 4.9% of the supply. He said the company needs about 100,000 ETH more to reach its target.“That’s a hard cap. We’re not gonna be accumulating past 5%,” Lee said. “We’re not gonna own more than 5% of Ethereum.”Lee had previously left open the possibility of accumulating more than 5% of Ether’s supply depending on Ethereum adoption. In an August interview with Bankless, he said the company may revisit that possibility in 2027.BitMine Chairman Tom Lee speaks at Token2049 Singapore. Photo: Aubrey Paller/CointelegraphBitMine says it is “done stacking” EtherLee said BitMine accumulated most of its Ether during what he described as a crypto bear market, saying that the company was able to build its position while prices were depressed. “We did all this buying in a bear market,” Lee said. “We protected the downside for ETH because we were buying. But now, we’re done stacking in front of a 25X move.”Lee also tied the 5% hard cap to BitMine’s capital strategy. Stopping its accumulation would remove the need to raise additional funds to keep buying Ether. “So if we have a 5% hard cap, that means we’re gonna outperform ETH on the way up, right?” Lee said. “‘Cause you don’t have to worry about us trying to raise capital. We’re done.”Related: Bitmine projects $334M in annual staking revenue from $15.8B crypto treasuryBitMine has tapped capital markets to build its Ether treasury. In June, the company launched a $300 million perpetual preferred stock offering. By early August, BitMine had repurchased 16.1 million common shares under its $4 billion buyback program.Even after Ether purchases stop, staking could add to BitMine’s holdings. Lee previously said the company could sell ETH earned through staking to prevent its share of supply from rising above 5%.Magazine: US crypto rules need to survive the next electionCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.