TechFlow News, February 19: According to Cointelegraph, Senator Elizabeth Warren, the senior member of the Senate Banking Committee, has sent letters to Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell urging the government not to use taxpayer funds to bail out the cryptocurrency industry.
In her letter, Warren warned that any form of bailout would amount to “transferring wealth from American taxpayers to cryptocurrency billionaires”—a move she described as not only “deeply unpopular” but also one that could directly benefit President Trump and his family’s cryptocurrency project, World Liberty Financial.
The letter was sent amid a more than 50% decline in Bitcoin’s price from its all-time high, with the asset recently hitting a local low of $60,000. On the same day, World Liberty Financial hosted its inaugural “World Liberty Forum” at Mar-a-Lago, inviting numerous cryptocurrency industry executives and policymakers supportive of digital assets.
Warren also cited the Financial Stability Oversight Council hearing held on February 4, noting that Treasury Secretary Bessent “sidestepped core concerns” when responding to questions about bailing out Bitcoin.
She emphasized that the government must refrain from intervening in the Bitcoin market through direct purchases, guarantees, or liquidity tools—lest “cryptocurrency billionaires become the primary beneficiaries of such bailouts.”
