- Brian Costello accused Senator Warren of colluding with Gary Gensler in a capital market cover up.
- Costello alleged that the Senator concealed capital market crimes by Chinese executives.
- Marty Party accuses Senator Warren of sparking the Silvergate-Signature-SVB bank runs.
Brian Costello, an X user who describes himself as “someone trying to do the right thing,” has accused U.S. Senator Elizabeth Warren of colluding with the SEC Chair, Gary Gensler, to cover up U.S. capital market crimes by Chinese executives. Costello alleged that the Senator did so while serving as a top member of the Senate Banking Committee, responsible for overseeing the SEC.
According to Costello, the U.S. Pension Reserves Investment Management Board (PRIM) invested in Sequoia China due to the Senator’s failure to carry out proper oversight functions. The self-described advocate that Sequoia China is under scrutiny by the Select Committee on the Chinese Communist Party for funding companies making weapons in China.
Costello’s allegations followed a previous one by Marty Party, host of Crypto Spaces, who claimed that his group has evidence that Senator Warren coordinated with short seller Marc Cohodes to spark the Silvergate-Signature-SVB bank runs because they banked crypto. Party also claimed that they have witness statements that the lawmaker colluded with the FDIC, Treasury, and OCC to enact Chokepoint 2.0 against crypto.
Furthermore, the Crypto Spaces host accused Warren of using fake data to plant a now-redacted media story that diverted blame for Biden’s Iran failures on crypto. Party posted his allegation, alerting the Senator and demanding answers from her.
To support his allegation, Costello shared the screenshot of his correspondence with Senator Warren’s Chief of Staff and legislative director in June 2022. In an email, Costello questioned the move by the Senator’s home state to invest retirement money in Sequoia China funds. He also inquired why Gensler, the SEC Chair, ignored Chinese crimes in the U.S. capital market, including substantial allegations against Sequoia’s principal. The Chief of Staff thanked Costello and promised to share his inquiry with her team.
Many crypto supporters who responded to the allegations supported Costello and Party. They believe the scrutiny may be coming at the right time, considering that the Senator is on the verge of seeking re-election.
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