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"Put the record right," ShapeShift reacts to Sen. Warren's remarks.

A cryptocurrency company based in Switzerland asserted that Warren made "mistakes" in her remarks during a recent senate session and urged her to "constructively interact" with its community.

According to a recent statement, non-custodial cryptocurrency company Shape-Shift rejected United States Senator Elizabeth Warren's allegations of "illicit fundraising," contending that she made them in order to "promote" her most recent crypto legislation.

In response to Warren's "study" of the platform at a recent Senate Banking Committee hearing titled "Crypto Crash: Why Financial System Safeguards are Required for Digital Assets," on February 14, ShapeShift said in a tweet on February 19 that Warren made "mistakes."

When Warren alleged during the Senate hearing that ShapeShift has hidden reasons for reorganizing as a DeFi platform in July 2021, this has happened.

Warren opined that the restructuring was done to promote the "laundering" of funds on the platform.
Shape-shift added that it is "not an exchange" and elaborated by describing itself as an open-source cryptocurrency dashboard that "connects users" to various platforms and protocols.
The company went on to say that it shares Warren's concern for the "similar things," mentioning "user safety" and "access to innovation" as examples.

By providing a link to its discussion forum, ShapeShift invited Warren and others to "constructively join" in the conversation on financial independence and innovation with its community.
In response to Warren's criticism of the platform, ShapeShift CEO Erik Vorhees stated on his personal Twitter on February 18 that he is looking forward to Warren "submitting a suggestion" to the Shape-shift DAO governance process.

Warren has recently become a strong opponent of cryptocurrencies. In an interview on January 25, he said that the Securities and Exchange Commission of the United States (SEC) should "double down" on its regulation of cryptocurrencies since the sector is afraid of what may come next.
She asserted that the opening of a cryptocurrency market "full of garbage tokens, unregistered securities, rug pulls, Ponzi schemes, pump and dumps, money laundering, and sanctions evasions" was "basically given the green light" by the previous SEC administration.

February 2023, CryptoniteUae