In recent developments within the crypto space, a report from Fox News has raised serious allegations against Sen Elizabeth Warren, accusing her of violating her oath as a Senator in an attempt to kill crypto. 

The report highlighted that Warren engaged in a coordinated effort with the Securities and Exchange Commission (SEC) Chairman Gary Gensler to manipulate congressional hearings in 2021.

Tough Accusations Against Sen Elizabeth Warren

According to XRP Lawyer John E. Deaton, rather than fulfilling her duty of providing genuine oversight of the SEC, Warren allegedly conspired with Gensler, providing him with the exact questions she would ask during hearings and even suggesting answers in advance. This, Deaton argues, goes beyond oversight and enters the realm of fraudulent and coached testimony before Congress, compromising the integrity of the process.

One of the central criticisms against Senator Warren is her failure to address crucial concerns within the crypto industry. Despite sitting on the Banking Committee and being a vocal critic of crypto, particularly Bitcoin (BTC), Deaton highlights that Warren failed to ask tough questions, particularly regarding Gensler’s meetings with Sam Bankman-Fried (SBF), former CEO of the now-defunct FTX exchange.

Deaton argues that her selective silence on certain matters reflects a biased approach and a failure to address potential regulatory lapses. He suggests a potential conflict of interest, raising questions about Warren’s connections to SBF’s parents. 

Allegedly, Joe Bankman, SBF’s father, wrote Warren’s tax plan in 2016, while SBF’s mother runs a Political Action Committee (PAC) supporting Democratic candidates like Warren. This raises concerns about whether Warren’s stance on crypto is influenced by personal ties.

Deaton emphasizes that over 600 XRP holders in Massachusetts, Warren’s constituents, reached out to her office for assistance in addressing their concerns about the SEC. Allegedly, Warren’s staff dismissed their requests, stating that the Senator would not intervene due to the SEC’s lawsuits against certain billionaires which include Brad Garlinghouse, Ripple’s CEO.

Warren’s Cryptocurrency Concerns

With her alleged biased approach towards crypto, Warren has been vocal about her concerns regarding cryptocurrencies’ role in illegal activities. In a letter to the White House, she highlighted the potential link between crypto donations and terrorism, referencing reports about the Palestinian group Hamas, using crypto for funding. 

Additionally, Warren has expressed concerns about crypto payments in the Chinese fentanyl trade, connecting it to her broader stance on national security and illegal activities.