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David Rubenstein: From Crypto Skeptical to Large Investor — What Changed His Mind?

David Rubenstein: From Cryptocurrency Skepticism To Making Large Investments in the Industry

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DAVID RUBENSTEIN is the co-founder of Carlyle Group, an American multinational private equity, alternative asset management and financial services corporation, which happens to be one of the largest mega-funds in the world. Moreover, the tycoon was known to express skepticism about cryptocurrencies in the past but has recently surprised some with investments in the sector.

In recent statements to CNBC on Thursday, the also philanthropist was enthusiastic about congressional action towards the “crypto” world. “The crypto constituency is strong in congress [and] they tend to be very Republican [or] very libertarian. The industry is not likely to be soft when dealing with members of Congress,” he said.

In addition, Rubenstein, speaking with the Colossus podcast, acknowledged that “I have not bought cryptocurrencies, but I have bought companies that service the industry because I think the genie is out of the bottle.”

At the same time, the entrepreneur reiterated his new position by stating that “some of the blockchain related investments and things associated with crypto are likely to be with us for some time.”

Back in 2020, blockchain infrastructure provider Paxos raised an estimated $142 million in a Series C financing led by Declaration Partners, an investment advisor in Rubenstein’s family office.

The Carlyle Group was founded in 1987 and most recently had as co-CEO Glenn Youngkin, who stepped down in 2020 to begin his successful run for governor of Virginia.

Joaquín Núñez es hincha de Racing Club de Avellaneda y licenciado en comunicación periodística por la Universidad Católica Argentina. Se especializa en el escenario internacional y en la política norteamericana // Joaquín Núñez is a fan of Avellaneda's Racing Club and has a degree in journalistic communication from the Universidad Católica Argentina. He specializes in the international scene and American politics.

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