Shayne Coplan, the founder of Polymarket, experienced a shocking FBI raid that confiscated his phone, raising questions about political motivations behind the law enforcement action.
The lack of transparency about the motives for the raid has led to speculation, especially within the crypto community, about whether the administration is targeting dissenting platforms.
Critics argue that the raid might represent overreach by the outgoing administration, suggesting that it could be an attempt to intimidate companies like Polymarket as it faces scrutiny.
Brian Armstrong of Coinbase warned that aggressive actions like the raid could ultimately backfire on the Biden administration, further escalating tensions in the industry.
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