Galaxy Digital CEO Mike Novogratz Urges Senator Warren To Be Impeached

Galaxy Digital founder Michael Novogratz shares his views on the cryptocurrency space with Senator Elizabeth Warren at X.

The post comes as Warren announced additional support from her colleagues for digital asset anti-counterfeiting, a bipartisan bill aimed at addressing concerns about the use of illicit currencies, including money laundering and drug trafficking.

Novogratz called Warren a ‘know-it-all'.

Novogratz opined that Senator Warren has gone from a person with positive intentions to a “know-it-all” person who is primarily seeking attention.

He pointed out that the senator in question has not passed any draft document.

It's sad that @ewarren, who started her career with good intentions, has taken any opportunity to turn into an expert who can't make headlines. We need to remove the Muslim population and replace it with a group that wants to fix the issue. Not a senator…

— Mike Novogratz (@novogratz) December 19, 2023

Although not directed directly at Warren, Novogratz's tweet was the result of a recent letter she wrote to Blockchain Association CEO Christine Smith. Sent on Tuesday, Senator Warren has raised questions about his involvement in some cases in cooperation with former national security officials.

Senator Warren expressed her concern, citing a troubling new report that the association and other crypto interests are using a small army of former defense, national security, and law enforcement officials to influence bipartisan efforts in Congress and the Biden administration regarding the role of cryptocurrency. Funding terrorist organizations such as Hamas.

In response, Senator Warren partnered with the Blockchain Association to request details on the identities and compensation of former government officials. Christine Smith has publicly confirmed this claim, confirming the association's commitment to reforming the previous systems that have been criticized.

Five new senators, three members of the Senate Banking, Housing and Urban Affairs Committee — Senators Raphael Warnock of Georgia, Lafonza Butler of California and Chris Van Hollen of Maryland — have thrown their support behind the legislation.

If passed, the proposed bill aims to address the risks associated with cryptocurrencies by integrating financial frameworks to protect digital assets against money laundering and terrorism. This legislative action is seen as a step to improve the regulatory landscape of cryptocurrencies.

Novogratz's opinion on Bitcoin ETFs

As the focus turns to Bitcoin ETFs, influential people in the industry are giving their views. In an interview with CNBC, Novogratz shared his views on the possibility of approval from the Securities and Exchange Commission (SEC).

According to him, he expects the SEC to approve the ETF before the January 10, 2024 deadline. He described this potential approval as “fuel to the fire,” citing the expected bullish market momentum that would follow ETF approval.