The fake letter addressed to U.S. President Joe Biden suggested a 1% wealth tax on crypto holdings exceeding $500,000.
Many social media users appeared to be fooled by an anti-crypto policy proposed by Massachusetts Senator Elizabeth Warren. The problem is the letter containing the proposal was fake.
On April 21, many on Crypto Twitter erupted in dismay at a seemingly real letter from Senator Warren to United States President Joe Biden. The letter — which misspelled the senator’s first name — proposed a 1% wealth tax on crypto holdings exceeding $500,000.
The letter called for President Biden to support crypto-related legislation from Senator Warren as part of efforts to address issues in the U.S. financial system. Even after many on social media pointed out discrepancies between the letter and reality, some crypto users seemed to refuse to acknowledge the truth.
