Coinbase Inc. COIN CEO Brian Armstrong has criticized Senator Elizabeth Warren (D-Mass.), calling her a “liability” to the Democratic Party and accusing her of being complicit in attempts to undermine the cryptocurrency industry.
What Happened: Armstrong’s comments came in response to a tweet from Elon Musk, referring to venture capitalist Marc Andreessen alleging that 30 tech founders were secretly debanked in an appearance on the Joe Rogan podcast.
Armstrong supported Musk’s claim, describing the situation as “one of the most unethical and un-American things that happened in the Biden administration.”
He speculated that Senator Warren played a key role, stating, “My guess is we’ll find Elizabeth Warren’s fingerprints all over it.”
He also alleged that Warren and SEC Chair Gary Gensler attempted to “unlawfully kill our entire industry,” suggesting that their actions contributed to the Democratic Party’s poor performance in the recent elections.
Armstrong also revealed that Coinbase is pursuing Freedom of Information Act (FOIA) requests to gather documents to uncover the full extent of the issue and determine if any laws were broken.
“We’re still collecting documents via FOIA requests, so hopefully the full story emerges of who was involved,” Armstrong added.
Also Read: Dogecoin To Hit 69 Cents By Inauguration Day? Polymarket Traders Are Not Convinced
Why It Matters: The Coinbase CEO’s criticism reflects growing tensions between the cryptocurrency industry and certain Democratic leaders, particularly Warren, who has long been a vocal critic of crypto.
Warren’s stance on cryptocurrency has been a polarizing issue, with proponents accusing her of stifling innovation through excessive regulation, while her supporters argue that tighter controls are necessary to curb fraud and environmental harm.
Armstrong’s remarks come amid increasing scrutiny of regulatory policies under the Biden administration, with crypto advocates pointing to what they see as overreach by agencies like the SEC.
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