Mike Novogratz, CEO of Galaxy Digital, has taken a swipe at Senator Elizabeth Warren for her know-it-all attitude especially against the crypto industry and her craze for making headlines. Novogratz fired the shots at the lawmaker via his X account today.
“It is sad that @ewarren who started her career with good intentions has morphed into a disingenuous know-it-all who uses any chance she gets to make a headline. We must throw out the populists and replace them with a group of leaders who want to get things done. Not a senator who has passed ZERO bills!” wrote Novogratz.
Senator Warren’s Anti-Crypto Bill in the Works
Warren had introduced the Digital Asset Money Laundering Act of 2023 “to require the Financial Crimes Enforcement Network to
issue guidance on digital assets, and for other purposes.” The bill currently has five new sponsors, making it 19 total sponsors, including three members of the Senate Banking Committee.
To crypto enthusiasts and investors, Warren is a diehard antagonist whose position on cryptocurrencies as a means of sponsoring terrorism and other illicit activities is lopsided, considering that traditional financial institutions have done worse.
Should the bill be signed into law, it will introduce lots of uncomfortable limitations to the crypto industry and impose restrictions typical of banking institutions on the industry. That explains why virtually all crypto enthusiasts are strongly opposed to this bill and Warren’s other anti-crypto antics.
Warren Reinforces her Crypto Crackdown with Letter to Kristin Smith, CEO of the Blockchain Association, Others
Warren sent out a letter to the Blockchain Association and other top players in the cryptocurrency industry, accusing them of lobbying efforts against “bi-partisan efforts in Congress and the Biden administration” in tackling the use of crypto in financing terrorism.
“I write regarding a troubling new report that your association and other crypto interests are
“flexing a not-so secret weapon: a small army of former defense, national security and law
enforcement officials”to work on your behalf to undermine bipartisan efforts in Congress and the Biden Administration to address the role of cryptocurrency in financing Hamas and other terrorist organizations,” said Warren.
As with all Warren’s previous shots at the crypto industry, the letter didn’t settle well with everyone involved. Smith responded to the letter via a tweet on her X account.
“As Americans, we all share the common goal of fighting terrorism and protecting our national security. Sen. Warren should focus her efforts on the perpetrators, not those working hand-in-hand with U.S. law enforcement to catch bad actors,” wrote Smith.
It was in the wake of this letter that Novogratz and other key players began throwing shades at Warren for her statements, calling her a “disingenuous know-it-all who uses any chance she gets to make a headline.”