elizabethwarren

U.S. Senator Elizabeth Warren has urged federal regulators to immediately halt the ongoing review of a national bank charter application submitted by World Liberty Financial Inc. (WLFI), citing direct connections to former President Donald Trump and his family.

Political Conflict of Interest? Warren Sounds the Alarm
In a letter to the Office of the Comptroller of the Currency (OCC), Warren warned that continuing to evaluate WLFI’s application could severely undermine the integrity of federal financial oversight.
She referenced her earlier warnings from summer 2025, where she questioned how the OCC could guarantee its independence from the financial interests of the President. At the time, OCC dismissed her concerns as speculative. Warren now argues those fears have materialized.
“Approving this application could enable the President to indirectly control his own financial institution through a regulator he can remove at will,” she wrote.
She added that if the OCC approves the license, it would be responsible for creating rules that directly affect the profitability of Trump’s company — and for supervising both the firm and its competitors.

Trump Family’s Crypto Bank Sparks Controversy
The issue escalated after WLFI confirmed it had formally filed for a national trust bank charter. The company also created a new subsidiary, WLTC Holdings LLC, and submitted a de novo application under OCC procedures.
Senator Warren is calling for an immediate suspension of the review — one that would stay in effect until Donald Trump fully divests from his interests in World Liberty.

Growing Backlash Against Trump’s Crypto Involvement
This situation comes amid growing public scrutiny of Trump’s expanding presence in the crypto industry. Cardano founder Charles Hoskinson recently voiced concern over the sector’s political trajectory.
Back in November 2025, Congressman Jamie Raskin released a report from the House Democratic staff, alleging that Trump used his investments in crypto ventures like World Liberty to significantly enrich himself.
According to public records, WLFI was co-founded not only by Donald Trump but also by his sons Barron, Eric, and Donald Trump Jr. The platform has since reached a multibillion-dollar valuation due to its crypto activities.

#TRUMP , #ElizabethWarren , #CryptoRegulation , #WLFI , #USPolitics

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Changpeng Zhao (CZ), the former CEO of Binance, one of the largest cryptocurrency exchanges in the world, has publicly threatened to sue U.S. Senator Elizabeth Warren for defamation. This confrontation marks a new phase in the ongoing conflict between the crypto industry and American regulators, highlighting the growing tension and differing views on the future of digital assets.

📌 Once a strong critic of crypto, Senator Elizabeth Warren now wants to collaborate with Trump to protect cryptocurrency companies from being denied service by banks.
🏦 "Debanking" – A Real Issue?
In a hearing in the U.S. Senate on Wednesday, #ElizabethWarren , one of the longest-standing crypto opponents, surprised many by speaking out against banks denying services to cryptocurrency companies – also known as "debanking."

Senator #ElizabethWarren and Representative Jake Auchincloss recently sent a letter requesting federal regulators to investigate meme coins named Trump and Melania, which were launched on the Solana platform before Donald Trump's second inauguration. Both officials expressed concerns about potential conflicts of interest, risks to consumers, and potential impacts on national security from these cryptocurrencies.

President Donald Trump has begun taking steps to sharply reduce funding for the Consumer Financial Protection Bureau (CFPB), the agency created to shield everyday Americans from abusive practices by Wall Street and other lenders. The move effectively dismantles rules that for more than a decade were designed to prevent fraud and predatory behavior on “Main Street.”
During Trump’s second term, the pressure has intensified. Budget director Russell Vought, who is also overseeing the agency, has openly signaled his intention to shut the CFPB down entirely. Some investigative responsibilities are expected to be shifted to the Department of Justice—an institution not designed to focus on credit card fraud or payday lending schemes.
Trump defended the decision at the White House, saying it was “very important to get rid of this agency,” and accused Senator Elizabeth Warren of using the CFPB as her “personal agency to destroy people.”

Mass Layoffs and a Crippled Watchdog
The administration is reportedly seeking to lay off up to 90% of CFPB staff and block the agency from accessing additional funding. An argument that the CFPB must be “profitable” before receiving more money from the Federal Reserve was rejected this week by a federal judge as legally unsound, but the broader dismantling effort continues.
Republicans in Congress already lowered the CFPB’s statutory funding cap in July. Since then, long-standing consumer finance rules have been rolled back, including protections related to student loans, credit card fees, mortgages, and overdraft charges. Many pending enforcement actions have been paused or canceled outright.
Insiders say experienced staff are leaving, oversight is collapsing, and the agency has largely stopped monitoring the very industries it was created to police.

Growing Fear Among Consumers and Advisors
The consequences are being felt on the ground. Reuters spoke with lawyers, financial counselors, and financially distressed Americans who said they are increasingly worried. For many, the CFPB was the only effective defense against lenders engaging in unfair or deceptive practices. With the agency weakened, people facing medical debt, job losses, or other financial shocks fear being left alone with predatory actors.

Warren Warns No Other Agency Puts Consumers First
Elizabeth Warren, who helped establish the CFPB in 2010, warns that no other federal agency places consumer protection at the top of its priorities. Reflecting on her years as a bankruptcy law professor, she recalled seeing countless people who lost jobs or fell ill only to be further exploited by lenders. Other agencies, she argues, treat consumer protection as a secondary concern at best.
Without the CFPB, critics say there is no guarantee that fraudulent lenders will be held accountable. Shifting responsibility “elsewhere” could, in practice, mean that it is enforced nowhere.

A Stark Contrast With China
While the United States weakens consumer safeguards, China is moving in the opposite direction. State media report that Beijing is allocating 62.5 billion yuan through long-term bonds to support consumer subsidy programs through 2026. The initiative, launched in 2024 to counter weak demand, is now being expanded.
Under the program, citizens receive partial refunds when replacing old appliances, electronics, or vehicles. According to the National Development and Reform Commission, consumers get 15% back on purchases such as washing machines or smartphones, capped at 500 yuan per item. Those trading in old cars for electric vehicles can receive up to 20,000 yuan, while buyers switching to cleaner vehicles can still receive up to 15,000 yuan.
The contrast is striking: while Beijing is investing in consumer protection and demand support, Washington under Trump’s leadership is dismantling a key watchdog designed to protect American households.

#TRUMP , #USPolitics , #WallStreet , #economy , #ElizabethWarren

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Tensions between the crypto world and U.S. lawmakers are rising again. David Sacks, a prominent figure in the crypto industry and advisor to the Trump administration, has publicly accused Senator Elizabeth Warren of hostility toward digital assets.

🔹 Sacks: Warren Hates the Crypto Community
David Sacks recently launched a sharp attack on Senator Elizabeth Warren. According to him, the Democratic politician "for some reason hates the crypto community" and is actively trying to push crypto innovation out of the U.S. Sacks warned that this would be a disastrous mistake for the American economy and its technological leadership.
He emphasized that cryptocurrencies represent the future of the global financial system and that the U.S. must play a leading role — not surrender the initiative to other countries.

🔹 Warren: Conflicts of Interest and Crypto Profits?
Senator Warren has long been skeptical of cryptocurrencies and has repeatedly questioned the transparency of David Sacks’s role in the Trump administration. In an official letter dated March 6, she urged him to prove that he was not personally profiting from policy decisions favoring specific crypto projects or weakening oversight.
She noted that Sacks had previously claimed to have sold his holdings in Bitcoin, Ethereum, and Solana before assuming his government role — but demanded detailed documentation of these transactions, including timing and terms.

🔹 Controversial Investments: Bitwise and Multicoin Capital
Her critique extended to Sacks’s investment firm, Craft Ventures, and its stake in Bitwise Investments. Sacks responded that the position was relatively minor — valued at $74,000 — and had been sold on January 22. He also confirmed selling his stake in the crypto-focused fund Multicoin Capital.
Still, Warren pressed for more information on how potential conflicts of interest were addressed, and whether safeguards were in place to prevent individuals close to the president from personally profiting from rising crypto values.

🔹 Ethics and Oversight Questions
Warren further asked whether Sacks had filed a financial disclosure with the Office of Government Ethics and what specific measures the White House had implemented to ensure that crypto policy advisors comply with federal conflict-of-interest rules.
She also harshly criticized the SEC for withdrawing lawsuits against major crypto firms including Coinbase, Robinhood, and Kraken. In her view, the claim that most memecoins are not securities could dangerously benefit speculators — including Trump's official token.

🔹 Warren Sounds the Alarm: Crypto as a National Security Threat
During a Senate Armed Services Committee hearing, Warren warned that weak crypto regulation poses a national security risk. She argued that rogue nations are exploiting digital assets to bypass sanctions and launder money, generating millions of dollars annually through crypto intermediaries.
She cited intelligence reports indicating that over 50% of North Korea’s foreign currency income now comes from crypto-related activity.
“Any action Congress takes to legitimize and grow the crypto market must include strong safeguards, so we don't increase opportunities for Iran and other adversaries to profit.” – Elizabeth Warren

🔹 Trump's Stablecoin and Warren’s New Battlefront
Warren also attacked the proposed stablecoin legislation and accused Donald Trump of using it to advance his own financial interests. She pointed to his emerging project World Liberty Financial, which is launching the USD1 stablecoin on Ethereum and BNB Chain.
In Warren’s view, such initiatives only benefit wealthy insiders, while everyday American families are left exposed and unprotected.

🧠 Summary
The clash between David Sacks and Elizabeth Warren highlights a growing divide between the tech sector and segments of the U.S. political establishment. While Sacks champions crypto as a driver of innovation, Warren warns of security threats and financial manipulation. The battle over crypto policy is no longer just about economics — it’s a political showdown that could shape the future of the entire industry in the United States.

What do you think? Should the U.S. support the crypto industry or crack down with strict regulations?

#DavidSacks , #ElizabethWarren , #cryptocurrency , #bitcoin , #CryptoNewss

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“