Former blockchain skeptic David Rubenstein reveals investments in crypto companies

Carlyle Group co-founder David Rubenstein acknowledged on September 2 that he has personally invested in a number of crypto companies and is optimistic about the industry’s path to regulation in the United States. United.

Speaking to CNBC’s Squawk Box on Thursday, the billionaire said he believes that government regulation will be positive for the industry and that the US Congress will take a collaborative approach to fostering an innovation environment in the country.

“The crypto constituency is very strong in congress [and] they tend to be very republican [or] very libertarian,” he noted. “The industry is not likely to be gentle when dealing with members of Congress.

Previously a cryptocurrency skeptic, Rubenstein would have changed his mind months ago. He told the Colossus podcast: “I haven’t bought cryptocurrencies, but I’ve bought companies that serve the industry because I think the genie came out of the bottle.”

Rubenstein reiterated his new perspective on Thursday, saying, “some of the blockchain-related investments and crypto-related things are likely to be with us for a while.” He added:

“Young people tend to have the intelligence and energy to set trends.”

In December 2020, blockchain infrastructure provider Paxos raised $142 million in Series C funding led by Declaration Partners, an investment advisor to Rubenstein’s family office.

Rubenstein co-founded The Carlyle Group in 1987. The private equity firm has $167 billion in assets under management and more than 270 active companies in its portfolio. At press time, his real-time net worth was estimated by Forbes at $3.3 billion.

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