{"id":37448,"date":"2025-07-17T12:46:54","date_gmt":"2025-07-17T12:46:54","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=37448"},"modified":"2025-07-17T12:46:54","modified_gmt":"2025-07-17T12:46:54","slug":"crypto-clash-warren-flags-economic-risk-cz-defends-industry","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=37448","title":{"rendered":"Crypto Clash: Warren Flags Economic Risk, CZ Defends Industry"},"content":{"rendered":"
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Senator Elizabeth Warren once again warned about crypto, claiming that it poses a serious risk to the U.S. financial system and that Big Tech could exploit it.<\/p>\n

However, former Binance CEO Changpeng Zhao (CZ) has responded, saying that all companies, not just the\u00a0 New York Stock Exchange (NYSE), drive the U.S. economy.<\/p>\n

CZ Says NYSE Isn\u2019t the Whole Economy<\/h2>\n

During a July 17 interview with Bloomberg, Warren criticized the GENIUS and CLARITY Acts, arguing they fail to address \u201cTrump\u2019s corruption\u201d and do little to prevent bad actors from exploiting crypto.<\/p>\n

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\u201cThey also don\u2019t put enough safeguards in place for consumer protection to make sure that terrorists and human traffickers, and drug traffickers can\u2019t use the system and guardrails to make sure that crypto isn\u2019t used to blow up our entire economy,\u201d commented the lawmaker.<\/p>\n<\/blockquote>\n

Specifically, Warren raised<\/a> concerns over a provision in the CLARITY Act that could allow large companies like Amazon and Meta to sidestep SEC oversight by \u201cdigitizing themselves.\u201d According to her, such gaps could enable these parties to use crypto in ways that might affect the NYSE.<\/p>\n

Zhao questioned<\/a> this view, saying, \u201cShe wants to limit US companies (Amazon, Meta, GE) to protect the \u2018US economy\u2019 \/ NYSE?\u201d<\/p>\n

He pushed back on the idea that the NYSE represents the broader economy, pointing out that it\u2019s just one company, wholly owned by ICE, with a market cap of around $100 billion. On the other hand, Amazon alone is valued at $2.4 trillion.<\/p>\n

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\u201cNYSE \u2260 economy,\u201d argued Zhao. \u201cAll companies = economy.\u201d<\/p>\n<\/blockquote>\n

\u201cSuperhighway of Crypto Corruption\u201d<\/h2>\n

Warren has consistently criticized the proposed cryptocurrency bills, which she argues<\/a> could enable corruption tied to the Trump family\u2019s crypto ventures. During a recent Senate hearing, the Democrat urged Congress to implement stricter regulations on digital assets.<\/p>\n

She referred<\/a> to his businesses, including the USD1 stablecoin and the TRUMP memecoin, as a \u201csuperhighway of crypto corruption,\u201d alleging they\u2019ve become major sources of his wealth.<\/p>\n

Trump reported incomes exceeding $57 million from World Liberty Financial, the firm behind USD1. According to Chainalysis, the President and his associates have also pocketed more than $320 million in fees alone from the TRUMP meme coin.<\/p>\n

Warren had encouraged Congress to delay or reject the GENIUS and CLARITY Acts unless they include Anti-money laundering rules, sanctions enforcement, and prohibitions on public officials profiting from crypto.<\/p>\n

She seemed to have been getting her way yesterday, after a dispute over whether the bills explicitly ban central bank digital currencies temporarily derailed a procedural motion to bring them to the floor of the House for debate.<\/p>\n

However, President Trump\u2019s intervention<\/a> secured the support of several rebellious GOP lawmakers, allowing the vote to pass today, 217 to 212. According to journalist Eleanor Terrett, GENIUS will now get a vote tomorrow, with CLARITY\u2019s possibly coming next week.<\/p>\n

The post Crypto Clash: Warren Flags Economic Risk, CZ Defends Industry<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Senator Elizabeth Warren once again warned about crypto, claiming that it poses a serious risk to the U.S. financial system and that Big Tech could exploit it. However, former Binance CEO Changpeng Zhao (CZ) has responded, saying that all companies, not just the\u00a0 New York Stock Exchange (NYSE), drive the U.S. economy. CZ Says NYSE […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-37448","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/37448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37448"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/37448\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}