Kevin O’Leary Claps Back: ’Warren’s Stablecoin Gambit Reeks of Political Theater’
Shark Tank’s bluntest investor just threw red meat to crypto advocates—while taking a swipe at Washington’s favorite pastime: performative regulation.
O’Leary’s takedown cuts deep: Warren’s attempt to tie stablecoin legislation to Trump is either clueless or calculated. Probably both.
Bonus jab: If Congress spent half as much energy auditing the Fed as they do grandstanding about crypto, we might actually fix something.
Warren vs the GENIUS Act
The GENIUS Act appeared stalled earlier this month after failing a cloture vote, with several Senate Democrats voicing concerns over potential conflicts of interest involving President Donald Trump and his family.
A revised draft last week resolved some concerns, prompting key Democrats to return ahead of a possible floor vote Tuesday.
Warren has spent weeks opposing the bill, accusing lawmakers of “greenlighting the grift” over a $2B MGX-Binance deal involving Trump-linked stablecoin USD1.
"For the first time in American history, this bill will make our president—Donald Trump—the regulator of his own financial product," Warren later said in her Senate speech on Monday.
The latest draft restricts stablecoin activity by senior officials but exempts the president and vice president, an exception Warren says could enable corruption.
O’Leary sees it differently, calling the bill a strategic opportunity to strengthen the dollar’s global role.
This is a digital payment system that establishes the U.S. dollar as a default currency around the world for price discovery on every commodity on earth,” he said. “Why wouldn’t every American want that?”
The entrepreneur warned that Warren’s stance could “stymie American technology” and called the GENIUS Act “a chance to MOVE forward a technology” vital for businesses of all sizes.
Once a vocal Bitcoin skeptic who called it “garbage” in 2019, O’Leary reversed course in 2021, citing institutional adoption, and began actively investing in crypto assets.
