If there was any doubt that politicians in Washington have it out for the cryptocurrency industry, those doubts have been laid to rest with the launch of Senator Elizabeth Warren’s re-election campaign, which has set out to create an “anti-crypto army,” according to a Twitter post from the Democrat from Massachusetts.
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Warren now appears to be making her fight against crypto a centerpiece of her re-election campaign, but recent polls suggest that it might not be the best position to take as Americans struggle with rising inflation, lost purchasing power, and the growing threat of global de-dollarization.
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Warren is attempting to capitalize on any negative sentiment that exists as a result of the events of 2022 – including the collapse of Terra/Luna last May and the highly publicized bankruptcy of the FTX cryptocurrency exchange in November – but so far, she has only elicited pushback.
For the crypto community, this is yet another attack that follows a ramp-up in Operation Chokepoint 2.0, which is all part of a concerted effort to demolish the crypto industry in the U.S. As a result, the majority of the community has derided Warren’s move, while some, like Stacks (STX) cofounder Muneeb Ali, have been motivated to take action in opposition.