Skip to main content

Polls suggest Elizabeth Warren's anti-crypto army strategy may not pay off

Elizabeth Warren has long been a crypto-critic, and appears to be making it a focus as her re-election bid kicks off.

The United States Senator for Massachusetts Elizabeth Warren is making her “anti-crypto” agenda one of the centerpieces of her re-election campaign, despite polls suggesting the majority of Americans think crypto is a key innovation for the future.

In a March 30 Tweet, Warren suggested she was fighting to put “government on the side of working families,” and prominently quoted a Politico headline that said: “Elizabeth Warren is building an Anti-crypto Army.”

The ‘Pro-crypto Army’ took to Twitter to lambast the Senator. Popular YouTuber Coin Bureau ridiculed the strategy, saying, “Imagine thinking that building an 'anti-crypto army' is going to win you votes?” while crypto advocate Lord TJ suggested that the stance will “push innovation offshore.”

While the Senator undoubtedly has access to her own private polling on the issues, recent polls commissioned by the industry suggest the stance will not be a vote winner among the majority of the population.

In a Feb. 24 survey commissioned by crypto exchange Coinbase, a whopping 76% of the representative sample believed that “cryptocurrency and blockchain are the future.”

A survey commissioned by digital asset management firm Grayscale Investments in November 2022 shared similar sentiments, with the responses interestingly suggesting that 59% of Democrats consider crypto to be the future of finance. That's more than the 51% of Republicans who said the same thing.

Democrats vs Republicans on crypto as the future of finance. Source: Grayscale

However in Warren's favor, the crises of 2022 such as the collapses of BlockFi, FTX, and Terra Luna have weighed heavily on crypto sentiment among the public, with a recent survey from Morning Consult finding that trust in crypto had plummeted over the course of the year.

The phrase “Elizabeth Warren is building an anti-crypto army” was first featured in a Feb. 14 Politico article, which claimed she was “starting to recruit conservative Senate Republicans to her anti-crypto cause and getting some early positive vibes from bank lobbyists.”

Related: Elizabeth Warren is pushing the Senate to ban your crypto wallet

The Senator appears to have taken a liking to the phrase, however, considering she has prominently featured it in her re-election campaign.

Warren has long been a vocal critic of crypto, and even suggested that it will ruin the economy in a Wall Street Journal op-ed soon after the collapse of crypto exchange FTX.

On Feb. 14 Warren vowed to re-introduce an Anti-Money Laundering (AML) bill she had previously pushed, which would extend to decentralized finance (DeFi) and Decentralized autonomous organizations (DAOs), while also requiring unhosted wallets, miners, and validators to implement AML policies.

Web3 Gamer: Shrapnel wows at GDC, Undead Blocks hot take, Second Trip



from https://ift.tt/Ka9o3wC
https://ift.tt/uWGvLEV
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion

There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto standards. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 The cryptocurrency has recovered nearly 40% from the low, leaving a long wick behind. Such a long wick suggests that before the quarter came to a close, buyers stepped up in a major way. Buyers were able to step up in a larger capacity in Q1 2022 than bears were able to in the final quarter of last year. The bearish wick to cl...
Post a Comment
Read more

FTX hacker reportedly transfers a portion of stolen funds to OKX after using Bitcoin mixer

On-chain activity suggests that the hacker has sent at least 225 BTC (4.5 million) to OKX so far. Hackers who drained FTX and FTX USA of over $450 million worth of assets just moments after the doomed crypto exchange filed for bankruptcy on Nov. 11, continue to move assets around in an attempt to launder the money.  A crypto analyst who goes by ZachXBT on Twitter alleged that the FTX hackers have transferred a portion of the stolen funds to the OKX exchange, after using the Bitcoin mixer ChipMixer. The analyst reported that at least 225 BTC — worth $4.1 million USD — has been sent to OKX so far.  1/ Myself and @bax1337 spent this past weekend looking into the FTX attacker’s deposits to ChipMixer. It appears they’ve likely been transferring a portion of the stolen FTX funds to OKX after withdrawing from CM So far we’ve accounted for at least $4.1m (255 BTC) sent to OKX pic.twitter.com/C46JZWtktn — ZachXBT (@zachxbt) November 29, 2022 According to ZachXBT, the FTX h...
Post a Comment
Read more

2 metrics signal the $1T crypto market cap support likely won’t hold

Despite the 8.5% weekly rally in cryptocurrencies, the lack of stablecoin premiums in Asia and futures markets activity shows buyers’ lack of confidence. Cryptocurrencies broke the $1 trillion market capitalization resistance on Oct. 26, which had been holding strong for the previous 41 days. Despite Bitcoin’s ( BTC ) modest 5.5% weekly gains, the aggregate value of 20,000 listed tokens increased by 8.5% between Oct. 24 and 31. Total crypto market cap, USD (in billions). Source: TradingView The cryptocurrency market was positively impacted by a 6.3% weekly rally in the Russell 2000 mid-capitalization stock market index. Some encouraging news accompanied the positive tailwinds from traditional markets. For instance,  55,000 BTC was withdrawn from Binance on Oct. 26, a record high. Typically, analysts consider the reduced number of coins deposited on exchanges a bullish indicator, as the immediate selling pressure eases. Moreover, exchange and wallet provider Blockchain.com ...
Post a Comment
Read more