Saga CEO discusses crypto industry’s shift toward GOP — ETH Denver
Rebecca Liao, co-founder and CEO of layer-1 blockchain Saga, believes that digital belongings started as a bipartisan difficulty however gravitated toward the Republican Party within the final election cycle because of the earlier administration’s anti-crypto insurance policies.
In an interview with Cointelegraph’s Turner Wright through the ETHDenver Conference, Liao pointed to the Securities and Exchange Commission’s (SEC) lack of cohesive coverage because the trade’s main problem. The CEO mentioned:
“The crypto community felt as though the administration of power was not really helping out the crypto community with policies that would be productive for this industry, and so they decided to pivot over to the Republican Party.”
“The alliance between Republicans and crypto is a matter of anti-establishment feeling, so they’re both agitating against the order,” Liao continued.
Campaign contributions additionally performed a serious function within the GOP’s shift toward pro-crypto insurance policies, mentioned the CEO, including that it was a tough fact that monetary contributions typically dictate how a lot a specific constituency is heard by elected lawmakers.
A graph displaying company marketing campaign contributions throughout election cycles with crypto trade spending highlighted in orange. Source: Public Citizen
Related: SEC job power continues assembly with corporations over crypto laws
US authorities resets relationship with crypto trade
Following the re-election of President Donald Trump within the United States and the resignation of former SEC chairman Gary Gensler, federal regulators radically altered their posturing toward the crypto trade.
The SEC dropped enforcement actions towards six crypto corporations in February 2025 as a part of the company’s regulatory pivot.
Coinbase was the primary crypto agency to see reduction. The SEC agreed to drop its enforcement motion towards the corporate after a prolonged authorized battle lasting effectively over a 12 months.
On Feb. 21, the SEC dropped its investigation into OpenSea — one of many main non-fungible token (NFT) marketplaces after probing the platform to find out whether or not NFT gross sales constituted securities choices.
Uniswap introduced the top of an SEC investigation into the decentralized trade agency on Feb. 25 — a growth that was lauded as a serious win for decentralized finance.
More just lately, on Feb. 26, the SEC closed its investigation of Gemini — a centralized crypto trade, and on Feb. 27, the company agreed to dismiss its lawsuit towards crypto agency Consensys.
Magazine: Trump’s crypto ventures increase battle of curiosity, insider buying and selling questions
