Foreign media: Paul Graham, co-founder of Y Combinator, recently criticized U.S. Senator Elizabeth Warren’s anti-crypto stance on X, calling it a “pure political misstep.” He argued that this approach has not suppressed the crypto industry but instead cost the Democratic Party support among relevant voters and donors.
Regulatory stance shifts
Graham said that the cryptocurrency industry has gained broader mainstream acceptance as the U.S. regulatory environment evolves. He also views Warren’s decision not to seek re-election in 2026 as one of the contextual factors behind this political shift.
He continued his criticism of the SEC.
Graham has also repeatedly criticized former SEC Chair Gary Gensler, calling his actions "very foolish" and arguing that compliant companies are being hindered while actual fraud is not being promptly addressed.
He cited Coinbase as an example, noting that such companies face obstacles on their compliance paths, leading some to shift operations overseas or scale back product features. At the same time, he used the collapse of FTX to illustrate that regulatory scrutiny has not been directed at the right targets.
Congress and industry funding are accelerating progress.
The original text also noted that, over the past year, the crypto industry invested over $193 million in PAC funds during U.S. congressional elections and successfully advanced the GENIUS Act, while the Clarity Act moved forward in the Senate Banking Committee with a 15-to-9 vote.