Senator Elizabeth Warren has accused former Representative Sean Patrick Maloney of breaching a prior commitment by taking the helm of a new industry group linked to cryptocurrency firms. The Massachusetts Democrat highlighted Maloney's history of moving between government roles and crypto advisory positions. She described the appointment as emblematic of Washington's revolving door issues.
Senator Elizabeth Warren, a longtime skeptic of the cryptocurrency sector, has reignited her scrutiny of former Democratic Representative Sean Patrick Maloney. On January 15, 2026, Warren told Politico that Maloney's recent appointment as CEO of the Coalition for Prediction Markets contravenes a pledge he made in 2024. At that time, during his nomination for ambassador to the Organization for Economic Cooperation and Development under President Joe Biden, Maloney promised Warren he would avoid employment or compensation from cryptocurrency or digital assets entities for four years post-tenure.
Warren pointed to Maloney's pattern of transitions, noting his past role chairing a congressional subcommittee on digital assets, followed by advising Coinbase—a major crypto exchange—and then a diplomatic position involving financial oversight. Now, with the coalition, which includes Coinbase alongside members like Kalshi, Crypto.com, and Robinhood, she sees a return to those circles. "Maloney has an alarming track record of spinning between government and the crypto industry," Warren stated, adding that the move "stinks like the swamp."
The coalition, formed last month, aims to push for federal rules on prediction markets—platforms where users bet on outcomes such as elections or sports events. A spokesperson for the group emphasized its focus on prediction markets rather than cryptocurrency broadly. Warren urged Democrats to prioritize public service for economic benefits to ordinary Americans, not personal career gains: "If Democrats want to earn back the trust of working people, we must insist that public service is about advancing Americans’ economic interests—not lining up your next job."
This episode highlights ongoing Democratic debates about ethical boundaries between public office and private industry, especially in emerging fields like digital finance. Warren has previously challenged Coinbase over its hiring of ex-officials, including Maloney, former Defense Secretary Mark Esper, and ex-Senator Pat Toomey.
