Kennedy officially declared his 2024 presidential bid last month. He stated that the Federal Deposit Insurance Corporation (FDIC) and the Securities and Exchange Commission (SEC) have “no authority to wage an extra-legal war on crypto that leaves major banks as collateral damage.”
Kennedy cited an article by Ellen Brown titled “How the War on Crypto Triggered a Banking Crisis,” in which Brown makes a “strong case” that a government-sponsored campaign against the digital assets sector was responsible for several historic bank failures in March, including Silicon Valley Bank, Signature Bank, and Silvergate Bank.
It is debatable whether there is a coordinated attempt to remove cryptocurrency from the American financial system. According to Barney Frank, an ex-congressman who served on the board of directors of Signature Bank, “the institution was shut down to send an anti-crypto message.” These assertions were later denied by a New York regulator..
On May 2, Kennedy criticized Biden on May 2 for calling the US banking system “safe and sound.” “Today, bank stocks are crashing. The American people deserve more than glib assurances and perception management,” he tweeted.
Following this, on May 3
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