Galaxy Digital CEO Calls Elizabeth Warren A 'Disingenuous Know-It-All' Amid Anti-Crypto Bill

Former Goldman Sachs partner and CEO of Galaxy Digital, Mike Novogratz, called out Senator Elizabeth Warren (D.Mass.) as a ‘disingenuous know-it-all.' 

What Happened: Novogratz on X said, “It is sad that Elizabeth Warren who started her career with good intentions has morphed into a disingenuous know-it-all who uses any chance she gets to make a headline.” 

Novogratz continued by urging people to “throw out the populists and replace them with a group of leaders who want to get things done” and pointing out that Warren, in particular, “has passed ZERO bills!”

It is sad that @ewarren who started her career with good intentions has morphed into a disingenuous know-it-all who uses any chance she gets to make a headline. We must throw out the populists and replace them with a group of leaders who want to get things done. Not a senator…

— Mike Novogratz (@novogratz) December 19, 2023

Last week, Warren announced additional support from her colleagues for the Digital Asset Anti-Money Laundering Act. The bipartisan bill aims to address concerns about the use of cryptocurrencies in illegal activities such as money laundering and drug trafficking.

The legislation has gained the backing of five new Senators, three of whom are members of the Senate Banking, Housing, and Urban Affairs Committee; these include Senators Raphael Warnock from Georgia, Laphonza Butler from California, and Chris Van Hollen from Maryland.

If passed, the proposed legislation would help mitigate risks associated with cryptocurrencies by aligning digital assets with existing anti-money laundering and counter-terrorism financing frameworks. 

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Why It Matters: Meanwhile, Warren on Tuesday wrote to the CEO of Blockchain Association, Kristin Smith.

“I write regarding a troubling new report that your association and other crypto interests are … working to undermine bipartisan efforts in Congress and the Biden Administration to address the role of cryptocurrency in financing Hamas and other terrorist organizations,” Warren wrote.

In a new interview with CNBC’s Squawk Box, Novogratz weighed in on the ongoing conversation about the approval of Bitcoin ETFs. Novogratz believes that the Securities and Exchange Commission (SEC) will approve the ETFs before the January 10, 2024 deadline, which will be a major catalyst for the cryptocurrency market. Novogratz stated that the ETFs will “act as a fuel to fire,” leading to another bullish Bitcoin BTC/USD run.

"The Fed's pivot is really important. That press conference was as dovish as anybody expected and the markets are behaving that way," says @Novogratz. "#Crypto likes it. We are going to get this ETF before January 10." pic.twitter.com/Tu7uSHiPcV

— Squawk Box (@SquawkCNBC) December 19, 2023

Photo by Rich Koele on Shutterstock

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