Warren and Deaton Clash Over Crypto in Senate Debate

Warren, Deaton Clash Over Crypto Policy

“With illegal immigration bankrupting the state and inflation making it tough for regular people, why did this senator decide to wake up and say, I’m going to build an anti-web3 army?’” Deaton said during the debate on Oct. 15TH. He emphasized that Warren’s focus on crypto seems out of touch with the struggles of ordinary Americans.

Elizabeth Warren vs John Deaton

HEATED debate on bitcoin and #crypto . 👇 pic.twitter.com/j22bOvNbJJ

— Altcoin Daily (@AltcoinDailyio) October 16, 2024

Elizabeth Warren , on the other hand, defended her stance on the web3 industry, saying she’s “fine” with people buying and selling digital assets. But, she wants to ensure the industry plays by the same rules as banks and stockbrokers.

She emphasized the need for consumer protection and ensuring crypto companies follow laws that prevent terrorism and drug trafficking. “Crypto is being used by terrorists, drug traffickers, and rogue nations,” Warren claimed, adding that these activities make regulation critical.

More About Warren vs Deaton

Despite their differences on crypto, both candidates agreed on one thing: traditional banking has failed many Americans. Deaton, however, accused Warren of not prioritizing banking access. He pointed to a December Senate Banking Committee hearing where Warren questioned JPMorgan CEO Jamie Dimon. Deaton criticized her for focusing more on crypto crime than on problems within the banking system.

WOW Senator Warren and pro-crypto challenger @DeatonforSenate just went blow for blow in a heavyweight death match on the debate stage

Here are the key moments from the back-and-forth on crypto in what could be a key slept on race for Massachusetts

A HAYMAKER THREAD 🧵 pic.twitter.com/nwn6ffOqw8

— Zack Guzmán (@zGuz) October 16, 2024

Warren fired back, claiming that 90% of the funds backing Deaton’s campaign come from the crypto industry . She argued that these supporters would expect a “return on investment” if Deaton wins the Senate seat. Deaton didn’t directly deny this but said he often clashes with the crypto industry, including having disagreements with several “crypto billionaires.”

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.