Warren's Dubious Claim of Hamas Raising $130M in Crypto Challenged by Experts and Bipartisan Group
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Senator Elizabeth Warren convinced 104 lawmakers to sign a letter citing dubious claims that Hamas raised $130M in crypto. This figure was later disputed.
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Blockchain analytics firms like Elliptic and Chainalysis said the $130M figure was likely an exaggeration and misinterpretation of their data.
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At a Senate hearing, expert witnesses also challenged the narrative that crypto is a major fundraising tool for Hamas. They said traditional channels like banks remain more important.
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Warren seeks to clamp down on crypto with anti-money laundering legislation, citing national security concerns. This is opposed by a bipartisan group of legislators.
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Senator Lummis is working to correct the record and make the U.S. a haven for crypto innovation, rather than stifle it with regulation. She argues crypto itself is not the problem.