Anti-crypto Re-election Campaign Launched by U.S Senator Elizabeth Warren

• Warren said that the FTX exchange’s demise should serve as a wake-up call.
• She also said cryptocurrencies ought to be controlled or eliminated.

In a recent tweet, US Senator Elizabeth Warren has again shown her anti-crypto position. Warren hasn’t been shy about how much she despises the crypto sector. She said that the FTX exchange’s demise should serve as a wake-up call for the US Department of Justice, the Securities and Exchange Commission, and the US Treasury to begin cracking down on cryptocurrencies. She also said cryptocurrencies ought to be controlled or eliminated.

Anti-crypto Stance

Elizabeth Warren has started a re-election campaign based on her anti-crypto stance. She recently recommended $10 per day for childcare and tweeted that she is entering the battle to get the government on the side of working families. 

Her comments come as the crypto sector in the United States is under increased scrutiny. Banks that were accepting cryptocurrencies were shut down first, then the SEC tightened laws and started suing cryptocurrency giants.

According to analysts, the cryptocurrency industry crackdown is only one aspect of a larger operation whose goal is the destruction of the cryptocurrency sector.

Recently, the Commodity Futures Trading Commission filed a lawsuit against Binance, the largest cryptocurrency exchange in the world, and its CEO, Changpeng Zhao. The lawsuit alleges that Binance worked to “keep the money flowing and avoid compliance,” in part by allowing U.S. customers to trade on its platform despite not being registered under U.S. law.

Regardless of the recent crackdown, prices of cryptocurrencies including Bitcoin and Ethereum are witnessing a price surge. Bitcoin crossed the $29k level and is now trading at $28,241 as per CMC.