Coinbase CEO Brian Armstrong says Massachusetts Senator Elizabeth Warren and Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), wanted to destroy the crypto industry.
In a post on social media platform say Warren and Gensler may have broken the law in their attempt to decimate crypto.
“Warren and Gensler tried to unlawfully kill our entire industry, and it was a major factor in the Democrats losing the election. The Democratic party must realize that Warren is a danger and distance themselves further if they want to have any hope of rebuilding.”
Armstrong’s statement comes amid accusations that the US government is denying tech and crypto founders access to banking services. In one interview On the podcast The Rogan Experience, Marc Andreessen, co-founder of venture capital firm Andreessen Horowitz (a16z), says that more than 30 founders have been defunded in the past four years.
Armstrong supports Andreessen’s claim.
“Can confirm this is true. It was one of the most unethical and un-American things to happen in the Biden administration, and I suspect we will find Elizabeth Warren’s fingerprints all over it (Biden himself was probably unaware of that).”
Kraken co-founder Jesse Powell also says that Choke Point 2.0, or the operation designed to suppress the crypto industry, has been in place for the past four years.
“Fed Master accounts for new banks that are considered crypto-friendly have been unlawfully denied. Existing crypto-friendly banks have been extrajudicially murdered. This is why we use Bitcoin.”
The news prompted high-profile crypto personalities to share their experiences. Jameson Lopp says Casa, a Bitcoin (BTC) security provider, has been drained of its bank account.
Decentralized Finance (DeFi) Protocol Frax Finance founder Sam Kazemian and Gemini co-founder Tyler Winklevoss also say the bank has closed down.
Say Winklevoss,
“Yes. I got banked for being in crypto, just like Gemini. The number is probably much bigger than 30 just in the a16z portfolio alone. They also killed several banks for banking crypto companies. Totally illegal, malicious behavior.”
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