Amid growing tensions between the cryptocurrency industry and traditional financial institutions, Roundtable anchor Rob Nelson, Wendy O, host of The O Show, and John Deaton, Senate candidate in Massachusetts, engaged in a lively discussion dissecting Senator Elizabeth Warren's critical stance on crypto.
Rob Nelson opened the dialogue by questioning Senator Warren's motives, suggesting her criticisms might be a strategic move to maintain control for traditional banks and governments. "I'm going to give Elizabeth Warren a bit of a pass and say maybe she's just really ignorant," he said. "But more likely... I would scare people. I would tell people, this is really, really dangerous and bad for you while we buy it up and control it."
Wendy O argued that Senator Warren is fully aware of her actions, asserting she is acting in her own best interests and those of fellow public servants. "I don't think Elizabeth Warren is ignorant at all. I think that she is doing what's in her best interest," she stated. She expressed concerns about private blockchains developed by major banks, emphasizing that "The whole reason why we bitcoin and why we crypto is for transparency."
Highlighting the positive impact of cryptocurrency, Wendy O shared a personal success story where she raised nearly $100,000 for a local nonprofit gym supporting inner-city kids. "The crypto community stepped up... There was no fraud associated. It was pure giving," she recounted, demonstrating the industry's potential for social good.
John Deaton brought statistical evidence to counter claims that cryptocurrency is predominantly used for illicit activities. "She's focusing on less than 1% of crypto used for illicit purposes," he noted, adding that even groups like Hamas avoid crypto because it's so traceable. Criticizing Senator Warren, he said, "That's why I've called Elizabeth Warren the number one banking lobbyist in America. She couldn't beat them; she joined them."
John Deaton will debate Senator Warren on October 15th.