A ‘flood of money’ from crypto Super PACs could be a challenge for Elizabeth Warren.

Sen. Elizabeth Warren has suggested that potential attacks on her and Rep. Katie Porter's 2024 campaigns could be funded by “corporate money” linked to crypto supporters.

In the year In an interview with Pod Save America on February 18, Jon Favreau, a former speechwriter for US President Barack Obama, questioned Senator Warren on John Deaton, a “Republican crypto enthusiast” who is considering a 2024 run for the Massachusetts senator's seat. Choice. Senator Warren, clearly skeptical of linking digital assets to illegal activities, suggested that “corporatists” might try to “spend as much money as necessary” to get back at her and Rep. Porter.

“To control your pressure [crypto] It looks like you've drawn your opponent in your Senate race,” Favreau said. “This could mean a flood of money from crypto Super PACs [Political Action Committees] Just like she attacked Katie Porter here in the California Senate race.

Favreau may be referring to Faircheck, which is backed by crypto companies including Ripple and Coinbase, which released ad spots in February saying Rep. Porter had taken campaign contributions from “big pharma, big oil and big bank executives.” Andrew Schiller of the Sacramento Bee described the ad as “mostly false” as the industry's most prominent institutions misrepresented companies that had donated to Porter's campaign.

“Corporate special interests are spending millions to distort my reporting,” Rep. Porter said in a Feb. 14 X post.

Related: Elizabeth Warren's bill ‘does nothing' to stop terrorist financing in crypto – US lawmaker

Sen. Warren said neither her campaign nor Porter's received “corporate PAC money” and relied on small donations in the race for two U.S. Senate seats. In the interview, she defended her push to pass the Digital Asset Anti-Money Laundering Act (DAAML), saying “it's not like that” and crypto is too complicated to regulate.

“When all these loopholes in the system come to crypto, the consequence is that crypto becomes a destination for drug dealers, human traffickers, rogue states, terrorists,” the Massachusetts senator said. . “There are some crypto people who have huge buckets of money to spend, and so, they hire this army of lobbyists to get out. [against DAAML]He said.

Election Day for the 2024 presidential race in the U.S. will be Nov. 5, when control of the House of Representatives, the Senate, and the presidency could go to either the Republicans or the Democrats. Cointelegraph reached out to Fairshack for comment but did not receive a response at the time of publication.

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