 Trump’s Election Will Spark a “Wild West” Era in Crypto, Says Swan.com CEO  
2024-11-13

In a recent interview, Swan.com CEO Cory Klippsten discussed how Donald Trump’s re-election could impact the cryptocurrency market, particularly regarding the rise of altcoins. Klippsten expressed concern that relaxed regulations might create a “Wild West” environment, fostering risky, speculative projects.
“We’re entering a ‘Wild West’ stage,” Klippsten warned. He elaborated that an “altcoin explosion under lax regulations […] would siphon demand away from Bitcoin,” possibly undermining Bitcoin’s position as the leading digital asset. This surge in altcoins, he suggested, might divert attention and resources from Bitcoin, presenting a new challenge to its adoption and growth as a stable, decentralized asset.
Klippsten coined a term for this chaotic environment: “the age of scambling,” combining “scamming and gambling.” He stressed that this could distract investors, pulling them away from Bitcoin’s long-term value.
Despite these risks, Klippsten noted that Bitcoin is increasingly viewed as distinct from speculative altcoins, both in media and political discussions. This surge of altcoins could ironically reinforce Bitcoin’s separate, sound position in the market.
To hear more of Klippsten’s views on Trump’s potential influence on crypto and Bitcoin’s future, watch the full interview on our YouTube channel.