Senator Elizabeth Warren Calls on Fed and Treasury to Deny Crypto Bailouts

Senator Elizabeth Warren has issued a warning to the Federal Reserve and the Treasury Department, counseling against the use of taxpayer money to rescue cryptocurrency investors amid recent market turbulence. Warren asserted that assisting the sector would equate to a bailout for 'crypto billionaires' and potentially contribute to President Donald Trump's related crypto enterprise. She demanded clarity on whether the government possesses the authority to underwrite crypto assets. In a response to recent queries during congressional hearings, officials from the Treasury have not confirmed plans to intervene in crypto markets, though they have mentioned retaining seized Bitcoin. Warren expressed concerns about potential conflicts of interest and national security issues related to a $500 million investment by the United Arab Emirates in a Trump-affiliated crypto company. Her opposition to potential bailouts underscores the ongoing debate over the government's role in the volatile cryptocurrency landscape and emphasizes the need for regulatory transparency and robust investor protections.