- Elon Musk’s tweet about secretive debanking of 30 tech founders sparks serious allegations by Armstrong against regulators.
- Armstrong suggests Warren’s involvement in unethical practices aimed at destroying the crypto sector, impacting election results.
In a recent public discourse, Coinbase Inc. CEO Brian Armstrong levied serious accusations against Senator Elizabeth Warren, branding her as detrimental to the Democratic Party and implicating her in efforts to stifle the cryptocurrency sector.
Can confirm this is true. It was one of the most unethical and un-American things that happened in the Biden administration, and my guess is we'll find Elizabeth Warren's fingerprints all over it (Biden himself was probably unaware).
We're still collecting documents via FOIA… https://t.co/2Rda7VU9MT
— Brian Armstrong (@brian_armstrong) November 27, 2024
This conflict surfaced following Elon Musk’s tweet about an interview where venture capitalist Marc Andreessen claimed that 30 tech founders had been clandestinely debanked.
Armstrong supported Musk’s assertion, condemning the action as one of the most unethical and un-American incidents within the Biden administration. He hinted at Senator Warren’s significant involvement, suggesting her influence in these decisions, which he believes undermined the cryptocurrency industry significantly.
If you believe that the authority to make laws is vested exclusively in Congress (which is what the U.S. Constitution says), that means the administrative state is fundamentally unlawful.
— Vivek Ramaswamy (@VivekGRamaswamy) November 28, 2024
The CEO of Coinbase also pointed towards a coordinated attempt by Warren and SEC Chair Gary Gensler to “unlawfully kill our entire industry”. He attributed such actions as a factor contributing to the Democratic Party’s recent electoral setbacks.
Armstrong is actively seeking further evidence through Freedom of Information Act (FOIA) requests to expose the full scope of these allegations and confirm any legal violations.
This revelation comes amid Musk’s disclosure that 30 tech entrepreneurs were secretly debanked, urging the public to verify these claims. Armstrong’s confirmation of Musk’s statement adds a layer of credibility and underscores the severity of the accusations against U.S. regulators.
These developments reflect ongoing tensions between U.S. regulatory bodies and the cryptocurrency industry, which has faced significant scrutiny over the years.
Despite previous legal victories that have favored crypto companies, the current allegations by Armstrong suggest a deep-seated conflict that could have far-reaching implications for the industry and political landscapes alike.
