US Senator Elizabeth Warren calls stablecoin bill a "scam" by Trump and Musk

this Wednesday, U.S. Senator Elizabeth Warren (D-MA) targeted a bill focused on stablecoins being considered by Congress, accusing U.S. President Donald Trump of using the bill to seek his own economic interests.

The Massachusetts senator shared her critical opinions when linking to an article about Trump's decentralized financial project - World Liberty Financial - launching its stablecoin USD1 on the Ethereum and Binance BNB chains.

Warren expressed her concerns on social media, claiming that President Trump is using this project for his own gain. Warren wrote: "Congress should stand up and amend the stablecoin bill currently being considered in the Senate, which will make it easier for Trump and Elon Musk to control your money." Warren criticized the "21st Century Financial Innovation and Technology Act" (FIT21).