Crypto and Hamas: Why Elizabeth Warren is Wrong

Crypto and Hamas: Why Elizabeth Warren is Wrong


It didn’t take long for the media to focus on Hamas’ cryptocurrency fundraising, particularly through the stablecoin Tether. Sense. Elizabeth Warren (D., Mass.) and Roger Marshall (R., Kan.) jumped at the opportunity to use this revelation to strengthen his crypto-regulation bill. But their attempt to exploit the October 7 attacks to advance their legislative agenda is misguided.

There is no evidence that crypto is used more often or more effectively than traditional banking to finance terrorism. Hamas acquired crypto on transparent blockchains, not through private blockchains and crypto privacy tools such as Monero or Zcash. Hamas used Bitcoin and Tether, which are both traceable and easily frozen by exchanges. In fact, the terrorist organization stopped soliciting cryptocurrency donations precisely because they were so easy to trace.

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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