Warren Raises Concerns Over SBF's Endorsement of Cryptocurrency Bill

US Senator Elizabeth Warren has expressed concern over the endorsement of the CLARITY Act by Sam Bankman-Fried, a convicted cryptocurrency scammer. Bankman-Fried, who is serving a 25-year prison term for his role in the FTX fraud, claimed that the bill would be a 'huge milestone' for crypto and a 'huge achievement' for President Donald Trump.

Warren stated that any crypto market structure bill must protect investors, the financial system, and American taxpayers. She emphasized that Bankman-Fried's endorsement of the bill from prison should 'set off alarm bells'. The CLARITY Act proposes to split cryptocurrency oversight between the SEC and CFTC, but its passage in the Senate remains stalled.