Senator Warren Urges Treasury and Fed Not to Bail Out Crypto Billionaires Saylor and CZ Amid Bitcoin Slide
Senator Elizabeth Warren urged the Treasury and Fed not to use taxpayer funds to bail out wealthy crypto investors during the Bitcoin slide.Summary
U.S. Senator Elizabeth Warren sent a letter to Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell, demanding they confirm they will not use taxpayer money to support cryptocurrency investors or firms amid a significant Bitcoin decline. Warren argued that any government intervention, such as direct purchases or liquidity facilities, would unfairly transfer wealth from taxpayers to wealthy crypto figures like Michael Saylor and Changpeng Zhao (CZ). She noted the recent 50% drop in Bitcoin's price and highlighted that bailouts could enrich entities connected to Donald Trump's family. Warren also expressed concern for retail investors who lost billions to fraud and pressed the agencies to strengthen protections, criticizing the Treasury's vague response regarding whether it might intervene in the sell-off.
(Source：Bitcoin Magazine)