1confirmation Founder: Crony Capitalism Has Become the Biggest Threat to the U.S. Crypto Industry

According to TechFlow, on January 26, Nick Tomaino, founder of 1confirmation, stated that crony capitalism has become the biggest threat to the development of the cryptocurrency industry in the United States. Despite ongoing skepticism within the industry regarding Ripple, many individuals and companies are actively lobbying the new government behind the scenes, attempting to influence policy-making to gain an advantage.

Tomaino emphasized that while clear regulatory guidance is important, it must center on promoting the free development of the industry to avoid ultimately destroying the U.S. cryptocurrency sector by favoring certain projects that are "skilled at maneuvering."