Coinbase Responds to Accusations from Elizabeth Warren

Coinbase has publicly responded to accusations from Senator Elizabeth Warren. Previously, the congresswoman criticized that the company had a policy of recruiting former lawmakers and law enforcement officials to fight against the control of regulators.

In a letter published on Saturday, Coinbase strongly denied these allegations, calling them “not only unfounded but also a distortion of our intentions and efforts.” ” The company also urged Senator Warren not to push cryptocurrencies out of the country

We responded to Senator Warren’s letter accusing @coinbase of hiring national security veterans as a way to fight bipartisan legislation.

In our response, we said that:
– We are very proud of our record of rooting out illicit activity on our platform, and of our deep partnership…

— Faryar Shirzad 🛡️ (@faryarshirzad) December 23, 2023

Coinbase’s response, published by Chief Policy Officer Faryar Shirzad, defended the company’s hiring practices. It said the hires represent “top talent at every level” and that Coinbase supports “responsible legislation and regulation” in the crypto space.

The letter also commends Coinbase’s Global Advisory Council, which provides key strategic advice and insight.

Notably, the board includes many former elected officials, including Senator Patrick Toomey, Representative Tim Ryan and Representative Sean Patrick Maloney, who were specifically mentioned in Senator Warren’s letter.

Coinbase’s letter ends with a warning about the potential consequences of intentionally pushing cryptocurrencies out of the country.