Elizabeth Warren's Attempt to Link Coinbase to Jeffrey Epstein Fails in Senate Hearing
Elizabeth Warren Tried To Tie Coinbase To Jeffrey Epstein On The Senate Floor: Here's What Happened
Benzinga
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During a Senate hearing on the CLARITY Act, Senator Elizabeth Warren (D-Mass.) attempted to link Coinbase to Jeffrey Epstein, proposing an amendment for the release of Epstein-related bank records. The amendment failed with a vote of 11-13, alongside several other amendments proposed by Warren.
- 01Senator Elizabeth Warren's amendment to release Epstein-related bank records was defeated 11-13.
- 02Warren argued that Epstein's investment in Coinbase highlighted potential illicit activities in cryptocurrency.
- 03Other amendments proposed by Warren, including those addressing risky assets in retirement accounts, also failed.
- 04Bitcoin's value surged above $81,000 during the hearing.
- 05The Senate Banking Committee passed an amendment facilitating portfolio margining with bipartisan support.
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Senator Elizabeth Warren (D-Mass.) attempted to connect Coinbase, a major cryptocurrency exchange, to Jeffrey Epstein during the Senate Banking Committee's markup hearing for the CLARITY Act. Warren proposed an amendment to release bank supervisory information regarding Epstein's activities, arguing that his early investment in crypto highlighted its potential for facilitating illicit transactions. However, the amendment failed with a vote of 11-13, as did several other amendments she proposed, including those aimed at restricting risky assets in retirement accounts and addressing crypto mixers like Tornado Cash, which Warren claimed laundered over $7 billion. Despite these setbacks, Bitcoin's value rose above $81,000 during the hearing, reflecting broader market movements. Warren criticized the CLARITY Act as being insufficiently prepared and called for Congress to prioritize economic concerns over crypto legislation. An amendment by Senator Dave McCormick (R-PA) passed with bipartisan support, facilitating portfolio margining, indicating some progress amidst the contentious discussions.
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