Massachusetts Senator Elizabeth Warren is expected to become the ranking member of the Senate Banking Committee, replacing Sherrod Brown after his departure. 🍃

The move comes despite the crypto industry spending around $40 million to oust Brown. Warren, like Brown, is known for being a vocal critic of cryptocurrencies and for her close oversight of the financial industry. If she takes the position, she could continue or even increase her oversight of the industry.

Meanwhile, Senator Tim Scott, a strong crypto advocate, is expected to chair the committee. His presence could counterbalance Warren’s approach, ensuring that debates on crypto legislation will be closely watched. ⚖️