Stacks co-founder urges crypto community to fund Senator Warren’s opponents
Muneeb Ali wants to fund a pro-crypto army uprising to oppose Senator Warren's publicly announced war on crypto.
Stacks co-founder Muneeb Ali wants to fund Senator Warren’s political opponents. He encouraged the crypto community to do the same.
Senator Warren wants to tackle money laundering
The comments came in response to Senator Warren’s plans to build an “Anti-crypto Army” as part of her re-election campaign.
Senator Warren has been a pivotal political figure in the war against crypto. Examples include opposing Fidelity’s decision to allow Bitcoin investment in its 401(k)products and, most recently, in a bipartisan letter to Binance demanding more transparency and accountability.
The letter accused the exchange of flouting U.S. regulations, including violating AML laws and reporting requirements.
Binance posted a lengthy response disputing the claims. It welcomed the opportunity to dispel the misconceptions and stated that it works to protect users and comply with legal obligations.
The CFTC sued Binance on March 27 for illegally operating a crypto exchange.
The “Building an Anti-crypto Army” quote originated from a Politico article from February. The post’s theme is recruiting political allies to support her anti-crypto cause – the cornerstone of which is legislation for harsher money laundering rules.
Critics say the measures she wants to bring are overly broad and an unconstitutional threat to personal privacy.
The Stacks co-founder pauses Democrat donations
In response to Senator Warren, the Stacks co-founder said the only action is to fund opponents of the “Anti-crypto Army.” He added that the first step is to start DAOs to house and administer the donations.
“We’ll raise Bitcoin & crypto capital to fund their opponents. Show them the power of decentralized communities.“
Ali said he had voted Democrat in the past but will no longer do so. He also disclosed donating to political figures “who were learning about Bitcoin and crypto” on both sides of the divide.
However, given his strength of feeling about the “Anti-crypto Army,” Ali said he has taken the decision to pause all Democrat donations for the time being.
To maximize the impact of a pro-crypto army, the Stacks co-founder recommended a strategic spend diverted toward “key battleground states.”
Signing off, he blasted the ridiculousness of declaring war on “open-source, freedom tech.”