John Deaton asked some big questions to Elizabeth Warren about the lack of response regarding FTX crypto fraud.
Elizabeth Warren is an American politician and former law professor who is currently the highest-ranking United States Senator from Massachusetts and has served since 2013. She is a very big hater of cryptocurrencies and is currently actively receiving support from over twenty other senators for her bill. is called the Digital Asset Anti-Money Laundering Act, which could ban cryptocurrencies in US jurisdiction.
As we know, the FTX crypto exchange seriously collapsed in November 2022. Over the past twelve months, the entire crypto industry took notice of Warren’s lack of activity and interest in the FTX bankruptcy and FTX crypto fraud case.
American crypto lawyer and founder of the CryptoLaw firm, John Deaton, raised questions about Warren’s silence in the FTX crypto fraud case and asked why she did not make anything public regarding the private meeting between FTX’s former CEO Sam Bankman-Fried (SBF) and Gary Gensler, chairman of the US Securities and Exchange Commission (SEC).
Deaton also claimed possible coordination between Warren and Jamie Dimon, CEO of JPMorgan Chase, who is also a known crypto hater. Considering Dimon’s sworn testimony in which he claimed that the only use case for digital assets is bad and unethical financial transactions,
Deaton questions the nature of coordination, especially in light of JPMorgan’s involvement in crypto-based cross-border transactions.
As we know, JPMorgan is a huge banking company in the US and is also involved in the crypto sector. This past week we heard that JPMorgan is officially supporting Bitcoin spot ETF applications together with other fund managers.
According to Deaton, there is some suspicion about JPMorgan because the CEO’s public statements remain against cryptocurrencies, but on the other hand, his company is involved in the crypto-related business, which is a gap in the consistent application of regulatory oversight.
This crypto law expert also claimed that Warren provided pre-prepared questions and answers to the SEC chairman for a hearing and that this helped Gensler stay away from the questions regarding the connection to SBF, which is the main actor behind FTX crypto fraud and currently spending his life in prison.
Also read: Crypto Investors and Crypto Startups Must Learn These Things From 2023