U.S. Senator Elizabeth Warren calls the stablecoin bill a "scam" by Trump and Musk

This Wednesday, U.S. Senator Elizabeth Warren (D-MA) targeted a bill focusing on stablecoins that is currently under consideration in Congress, accusing President Donald Trump of using the bill to seek his own economic benefits. The Massachusetts senator shared her criticisms when linking an article about President Trump's decentralized finance project - World Liberty Financial launching its own stablecoin USD1 on Ethereum and BNB chains. Warren expressed her concerns on social media, claiming that President Trump is "lining his pockets" with this project. Warren wrote: "Congress should step up and amend the Stablecoin Bill currently under consideration in the Senate, which would make it easier for Trump and Elon Musk to control your money." Warren criticized the "Financial Innovation and Technology Act of the 21st Century" (FIT21).