Sen. Elizabeth Warren has urged the Treasury Department and the Federal Reserve not to use taxpayer dollars to bail out cryptocurrency billionaires amid a significant decline in Bitcoin’s value, which has dropped nearly 60% since reaching a peak in October. In her letter to Treasury Secretary Scott Bessent and Fed Chair Jerome Powell, she expressed concern that any bailout would not only be unpopular but could also directly benefit entities like President Trump’s cryptocurrency company, World Liberty Financial. Warren highlighted that the current selloff has been exacerbated by leveraged liquidations and called for enhanced protections for retail crypto investors, noting that $17 billion was lost or stolen in crypto fraud in 2025.
Sen. Elizabeth Warren urges Fed not to bail out crypto billionaires
