Tuesday, June 6, 2023

Is There Any Chance Ukraine Could Hire Elizabeth Warren's 'Anti-Crypto Army'?

Maybe on a mercenary basis to counter Wagner? Nah, wouldn't be fair. She'd mop the floor with Prigozhin and then order him to make lunch.

From Politico, Valentine's Day, 2023:

Elizabeth Warren is building an anti-crypto army. Some conservatives are on board.
Warren is zeroing in on national security concerns as her focus for potential crypto legislation, even as she raises red flags about a host of issues in the space, from consumer protections to environmental impact.

Sen. Elizabeth Warren is branding herself as the scourge of crypto. And she’s not doing it alone.

The progressive Massachusetts Democrat is starting to recruit conservative Senate Republicans to her anti-crypto cause and getting some early positive vibes from bank lobbyists, who also want to rein in digital asset startups.

Warren has emerged as a lead lawmaker on crypto oversight and is trying to build support behind a bill that would have sweeping implications for the industry via tougher anti-money laundering restrictions, including requirements that more crypto service providers verify customer identities.

“I want to emphasize how good her office has been to work with,” said Sen. Roger Marshall, the Kansas Republican who co-sponsored Warren’s legislation.

Crypto advocates are resisting Warren’s push, and some dismiss her as an outlier. But her budding partnership with GOP lawmakers reflects broader forces that are poised to unite progressives and conservatives, watchdog groups and bankers, who share common cause in wanting to derail the unfettered growth of crypto....

....MUCH MORE

From CoinDesk, April 3:

Sen. Warren’s ‘Anti-Crypto Army’ Is Just the Beginning of Crypto’s Politicization

As the 2024 U.S. election cycle approaches don’t be surprised to hear politicians discussing bitcoin, crypto and CBDCs.

We’re heading into an election year and crypto’s moment on the campaign circuit seems imminent.

On March 20, Florida Gov. Ron DeSantis, a Republican who will likely seek the GOP nomination for president, announced legislation to prohibit the use of a federally controlled central bank digital currency, or CBDC, in the state. Soon after, Sen. Ted Cruz (R-Texas) introduced legislation to prohibit the Federal Reserve from developing a direct-to-consumer CBDC that could be used as a financial surveillance tool by the federal government with two other Republican co-sponsors.

Then, last week, Sen. Elizabeth Warren (D-Mass.) tweeted from her campaign account that she was building an “Anti-crypto Army.”

So if you were under any suspicion that crypto wasn’t political, then I’m sure that suspicion is now shattered. Crypto is politicized....

Finally, from PirateWires, March 23, 2023:

Did The Government Start A Global Financial Crisis In An Attempt To Destroy Crypto?
six weeks later, operation chokepoint 2.0 has brought crypto to its knees… along with america’s entire financial system

Six weeks ago, Pirate Wires published Nic Carter’s explosive Operation Chokepoint 2.0, laying out the case that the Biden Administration was quietly attempting to ban crypto. A month later, the US financial system was thrust into chaos after a series of historic bank failures, most notable among them Silicon Valley Bank. But the failures actually began a couple days earlier, after crypto-friendly Silvergate was targeted by the government. By the end of the following weekend the last-remaining crypto-friendly bank, Signature, was shut down under circumstances still unclear, and for some reason largely unreported.

In a bombshell new feature for Pirate Wires, Nic Carter returns: today, the entire global financial system teeters on the brink of a disaster created by the Fed.

-Solana

A bank run that began with a small Californian regional bank has now escalated into a worldwide crisis. As a response to the failures of Silvergate, Silicon Valley Bank, and Signature, the Federal Reserve prepared a veritable bazooka of new funding for financial institutions and reversed its plans to contract the money supply. Switzerland is busy negotiating the merger of two of its largest banking institutions, UBS and Credit Suisse. This represents the biggest challenge to financial stability since the Great Financial Crisis in ‘08 and a sea change in the structure of US banking. Attention has rightly been focused on the prospect of further runs and the knock-on effects of Fed policy on banking institutions. 

But lost amidst the chaos is another subplot: the escalating crackdown by the Federal government against a wholly legal US industry. A month ago, I warned that banks dealing with crypto clients were facing a concerted effort on the part of regulators and supervisors to redline the entire crypto space. What has happened since was utterly shocking. The two most crypto-focused banks, Silvergate and Signature, were forced into liquidation and receivership, respectively. The established narrative is that they made “bad bets” and lost, or that they couldn’t handle flighty depositors in the form of tech and crypto startups. 

But there’s an alternative version of events being pieced together that is far more sinister — and convincing. It appears that these banks, especially Signature, were the victims of an opportunistic campaign to decapitate banks serving the crypto industry. Not only was the bank run opportunistically exploited by regulators to shut down Signature, but it may even trace its origins to Choke Point 2.0. Did the Biden Administration actually instigate the now-global bank run as part of a grievance campaign against the crypto space? If so, this represents a colossal scandal, and one that the Biden administration must be made to answer for.

The preponderance of public evidence suggests that Silvergate and Signature didn’t commit suicide — they were executed...

....MUCH MORE

Somebody should make a movie about this stuff.