Warren Sees Crypto as Systemic Threat, Says Markets Crash if Trump Fires Powell

Senator Elizabeth Warren warned that the fast-growing cryptocurrency sector could jeopardize the wider financial system unless U.S. regulators impose far stricter rules. In a CNBC interview on 17 July, the Massachusetts Democrat said the current framework has been “heavily influenced by industry insiders,” leaving consumers exposed and even threatening to “blow up” the New York Stock Exchange and the broader economy if left unchecked. Warren, the top Democrat on the Senate Banking Committee, also cautioned that financial markets would “crash” if former President Donald Trump follows through on threats to fire Federal Reserve Chair Jerome Powell. She argued that undermining the Fed’s independence would erode global confidence in U.S. monetary policy, driving investors out of stocks, bonds and the dollar.