Crypto law expert asks why US Senator Warren is silent in FTX crypto fraud case

John Deaton raised some big questions against Elizabeth Warren over the lack of response related to FTX crypto fraud.

Elizabeth Warren is an American politician and former law professor who is currently the senior US senator from Massachusetts, serving since 2013. She is a very big hater of cryptocurrencies and currently, she is actively getting support from more than two dozen other Senators for her bill called the Digital Asset Anti-Money Laundering Act, which can ban cryptocurrencies in the US jurisdiction.

As we know, the FTX crypto exchange collapsed badly in Nov 2022. Over the last 12 months, the whole crypto industry noted that Warren showed a lack of activity & interest In the FTX bankruptcy & FTX crypto fraud case.

US crypto attorney & CryptoLaw firm founder John Deaton raised questions over Warren’s silence in the FTX crypto fraud case and asked why she failed to disclose anything related to the private meeting between FTX former CEO Sam Bankman-Fried (SBF) & Gary Gensler, the chairman at the United States Securities and Exchange Commission (SEC). 

Also, Deaton claimed potential coordination between Warren and JPMorgan Chase CEO Jamie Dimon, who is also a well-known crypto hater. Given Dimon’s under-oath testimony, where he claimed the sole use case for digital assets is for bad & unethical financial transactions, 

Deaton questions the nature of coordination, mainly in light of JPMorgan’s engagement in crypto-based cross-border transactions. 

As we know JPMorgan is a giant banking firm in the US and is also engaged in the crypto sector. In the last week, we heard that JPMorgan is officially supporting the Bitcoin spot ETF applications with other fund managers.

According to Deaton, there is some suspicion about JPMorgan because its CEO’s public statements remain against cryptocurrencies but on the other side his firm is involved in the crypto-related business, which is a gap in the consistent application of regulatory scrutiny.

This crypto law expert also claimed that Warren provided pre-prepared questions and answers to the SEC chairman for a hearing and that helped Gensler to remain away from the questions related to the connection with SBF, who is the main actor behind FTX crypto fraud & currently spending his life in jail.

Read also: Crypto Investors & crypto startups should learn these things from 2023