March 25, 2025

Statement from Senator Warren on Trump Crypto Venture Launch of Stablecoin

Washington, DC – United States Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee released the following statement on President Donald Trump’s crypto venture launching a stablecoin:  

"This venture is Donald Trump's latest grift with major consequences for the stability of our financial system. Congress has a responsibility to put in place guardrails to prevent this scam and our first opportunity to do so is with the so-called “GENIUS Act” that is headed to the Senate floor. This bill would pave the way for Donald Trump and Elon Musk to print their own stablecoins with little oversight. But it’s not law yet – and the American people are counting on us to fix its fundamental flaws and safeguard their wallets, not make it easier for Trump and Musk to take control of our money."

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