Elizabeth Warren’s most recent push to crack down on cryptocurrencies has attracted strong rebukes within the cryptocurrency community.
Galaxy Digital CEO Mike Novogratz said that the Massachusetts senator didn’t seem “so progressive” to him because of her anti-crypto comments.
Banks charged 12 bn in overdraft fees, a fortune in atm fees, a fortune in checking account fees. But you keep going after crypto where saving and money transfer is a fraction of banks. Good job @SenWarren You really don’t seem so progressive to me.
— Mike Novogratz (@novogratz) July 28, 2021
Alex DovbnyaInstead of leaving our financial system at the whims of giant banks, crypto puts the system at the whims of some shadowy faceless group of super coders and miners, which doesn’t sound better to me.
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Ripple CEO Brad Garlinghouse looked at the things on the bright side, taking note of the progress that lawmakers have made when it comes to understanding crypto.
As @senwarren has recognized, our current banking and payment systems need improvement. Crypto and blockchain were originally created to provide access to those who have consistently been left out - and many companies are using this tech for precisely that purpose! 4/4
— Brad Garlinghouse (@bgarlinghouse) July 27, 2021
As reported by U.Today, Warren also sent a letter to Treasury Secretary Janet Yellen, pressing her to deal with numerous risks posed by stablecoins and decentralized finance.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Vladislav Sopov
Dan Burgin