epeakin
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Elizabeth Warren says that the Crypto is rife with scams as $80 million was stolen in a 6 month span. She fails to mention the $11.11 Billion US banks were fined for shady business & the $12 Billion consumers lost to banks from overdraft fees in 2020!
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Every currency is rife with scams….
The Federal Reserve and Wall Street are behind the majority.
Politicians are the scam
Somebody shut Karen up.
This is a ridiculous take. Nobody is harder on the banks than her. It’s wild how this community just blindly upvotes anyone who parrots the “politicians are bad” incessant talking point that comprises about 50% of the posts on this sub.
I don’t like how this discussion gets framed.
Warren is at least partly correct. The “crypto” market is rife with scams and most alts serve no use case other than to separate clueless investors from their hard earned money. On a per capita basis, I’d wager that “crypto” is way more scam-ridden than banking or Wall Street.
The real questions are: Does any authority have a right to regulate such a market? Should investors be free to do whatever the hell they want with their money? Are authorities even capable of regulating such an industry in a sensible way?
And we should also ask Warren and co the reverse: Given that crypto is so obviously ridden with scams, why do people continue to pump their money into it? Are they just stupid, or is it more nuanced than that? Could it have anything to do with stagnating wages, pathetically low interest rates on savings accounts, and sky rocketing costs of living? Perhaps people are more willing to gamble as it’s the only way to get ahead?
There’s shitload of scams out there that doesn’t even involve crypto. For every scam involving crypto, there’s a thousand others not involving crypto.
Warren has spoken extensively about bank fraud and what should be done about it. Now she’s warning us about crypto currency.
How will she stop scams in crypto? Can’t stop it in fiat either. Hell if someone steals your car the police hardly give a shit, it’s all performative theater to try and remain relevant and to probably try to steal from the people who have done well out of crypto.
Elizabeth Karren
The only thing they are mad about Crypto is not owning a bunch of it… It is obvious for even the avg Joe
Elizabeth warren is just partisan theatrics. She has no knowlege of crypto at all. No one should give a shit about anything she says ever.
Maybe she forgot to mention that, but is she wrong?
Point? These aren’t mutually exclusive
I mean, shit-coins are scams. Banks are just better at it
Both are in shambles…. USD and BTC. Nothing new here..
Great point!
I get your point, but its Whataboutism and doesnt make the stolen Crypto better.
Warren is from where I live in MA. I’ve voted for her because she sticks up for the little guy typically. Bitcoin presents a permanent path for the little guy to protect themselves and seek independence. I don’t think that if she really understood what a brilliant invention Bitcoin is and all the good it does, she would be a roadblock to progress. My theory is that she doesn’t understand the difference between Bitcoin and shitcoins.
Who cares, the federal reserve and government stole $6 trillion in purchasing power in the last couple years.
she shits on traditional banks all the time
I don’t think Elizabeth Warren misses much opportunity to point out anything that banks have done wrong.
Get her in a retirement home already. She is an irrelevant relic of days that nobody remembers
Attacking her on this specific comment isn’t necessarily fair. She isn’t wrong, nor was she arguing for why fiat is better scam-wise. She’s literally spent her entire career fighting the same issue.
I disagree with her angst, and I’d probably disagree with the specific regulations she’d like to implement… but c’mon, the outrage in this comment thread is a bit unreasonable.
You know she shits on traditional banks all the time too right? Come the fuck on.
I’d like to know how much SHE’s stolen over the past six YEARS.
Her performance at the hearings was ludicrous and she should be embarrassed. Pat Toomey was making more sense.
Yeah, that Elizabeth Warren is always shilling for the big banks /s
Crypto is just a currency used to transfer value during a scam. You can scam people with every currency.
Am I right to think this feels like victim blaming? Instead of fighting the scams she wants to fight crypto.
I used to think she was on the side of the little guy but no longer.
In her defense, she does go hard after US banks as well.
Pocahontas ?
I bet there are some people who see how she has been going after their livelihood yet will vote for her because of their basic tribal instincts.
Elizabeth Warren is a lying fool who pretended to be Native American in order to get into Harvard. I don’t believe anything that liar says.
She also fails to mention all the scams and fraud in US$, and other fiat all over the world.
She’s got a boner to kill off crypto. At least she’s been showing her hand consistently.
Does she know the difference between bitcoin and bitcorn?
No one takes her to seriously, forget about it
Last time I checked, she is in a party that the leaders become multi millionaires by complaining about rich people. Ultimate scam artists.