Kevin O'Leary Slams Elizabeth Warren's Stablecoin Bill Resistance As 'Completely Deranged'

• ‘Shark Tank' investor Kevin O’Leary has bashed Sen. Elizabeth Warren’s efforts to tie the GENIUS Act to President Donald Trump.
• Warren has raised conflict-of-interest and corruption concerns as the Trump family has launched a stablecoin product.
• The stablecoin bill is set to advance to a full floor vote.

Sen. Elizabeth Warren (D-MA) is butting heads with cryptocurrency advocates again. Over the past few weeks, she has rallied against the GENIUS Act, a stablecoin bill advancing quickly through the Senate, arguing that it would only enable corruption by President Donald Trump. In ‘Shark Tank' investor Kevin O’Leary’s telling, however, this could not be further from the truth.

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‘Completely Deranged’

O’Leary in an interview with NewsNation on Monday slammed Warren’s efforts to tie the Genius Act to Trump as “un-American” and “completely deranged,” adding that her actions threatened to block the U.S.’s technological advancement.

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“This bill has nothing to do with Trump,” he said. “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. Why wouldn’t she want that? Why wouldn’t every American want that?”

O’Leary doubled down on his bashing of Warren after he shared his interview across multiple social media platforms.

“Elizabeth Warren is at it again… She’s confusing politics with progress, and this time, it could cost America dearly,” O’Leary said. “She’s calling stablecoin legislation a ‘Trump product.’ That’s not just wrong. It’s dangerous. This bill has nothing to do with Trump or meme coins. It’s about securing the future of U.S. financial dominance by regulating digital payment systems that are already transforming the global economy.”

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Conflict And Corruption

Warren’s concern over the current stablecoin bill centers on the Trump family’s recent move to launch USD1, a stablecoin product, through its decentralized finance project. Ethics watchers suggest this could pose a conflict of interest and corruption risk.

These concerns have been heightened by USD1’s involvement in a $2 billion deal between Abu Dhabi investment firm MGX and Binance. Some worry that foreign interests could adopt the product to curry favor with Trump.

“For the first time in history, this bill will make our president the regulator of his own financial product,” Warren said, referring to the GENIUS Act on the Senate floor on Monday. “If Congress does not fix this issue here, today, then it will be aiding and abetting his corruption every time President Trump’s stablecoin is used to finance a corrupt deal.”

Her remarks were, however, unable to stop the bill from passing a key procedural vote on Monday with the support of 16 Democrats. The bill failed to pass the same vote last week after several Democratic senators pulled their support over a perceived lack of sufficient anti-money laundering controls. Most of those senators now support the legislation following negotiations with the bill’s Republican sponsors.

The bill is set to advance to a full floor vote, which is likely to be held this week. Most observers favor its passage. 

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