5 days ago
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Elon Musk disclosed that 30 tech entrepreneurs were de-banked secretly. Brian Armstrong said that he could confirm Musk’s claim, and it was a very unethical thing that happened under the presidency of Joe Biden.
On 27 Nov 2024, Tesla CEO Elon Musk said that 30 tech entrepreneurs were debanked secretly. Musk invited people to confirm this information, whether they were debanked.
Coinbase CEO Brian Armstrong responded to Musk’s claim and said that he can confirm this information. Armstrong said that the debanking method was one of the most unethical and un-American things that happened under the presidency of Joe Biden.
According to Coinbase CEO, the whole bad thing happened under the leadership of Elizabeth Warren & probably Biden was himself unaware of these unethical practices.
Moreover, Armstrong also said that Gary Gensler, the chairman of the United States Securities and Exchange Commission (SEC), who is popularly known for his crypto-hater stance, was also responsible for this unlawful act.
According to Coinbase co-founder Armstrong, Gensler & Warren tried to kill the entire crypto industry, and it was a major factor in the losing the US presidential election democratic party.
Furthermore, Armstrong also confirmed that he is working to collect some more information related to unlawful & unethical practices through which many tech entrepreneurs were debanked. He stated that they are collecting documents via FOIA requests, to uncover the culprit who was involved and broke laws.
Can confirm this is true. It was one of the most unethical and un-American things that happened in the Biden administration, and my guess is we'll find Elizabeth Warren's fingerprints all over it (Biden himself was probably unaware).
We're still collecting documents via FOIA… https://t.co/2Rda7VU9MT
US regulators vs Crypto sector
Before, 5 years ago, many crypto companies faced regulatory heat, but the basic laws helped these companies to evolve, as they were following all the basic rules to comply with all kinds of regulatory measures. In many court battles, Crypto companies secured favour, as there was nothing unethical.
Under that circumstance, the majority of the crypto-haters at the government level tried to kill this innovative sector via debanking & new regulatory actions, without telling any rule or law, called Chokepoint2.0.
Read also: Hoskinson shifts gears from BitcoinOS & decides to develop their own Cardano-Bitcoin bridge
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