SEN RICHARD BLUMENTHAL: Crypto is a gamble our financial system doesn't need
Fox News
Senate Banking Committee marks up crypto legislation Thursday fulfilling Trump's promises to crypto billionaire friends, despite warnings about taxpayer risks.
Democrat Richard Blumenthal is the senior United States senator from Connecticut.
Our investigation gave us a unique window into how crypto can quickly move from innovation to contagion. Silicon Valley Bank, Signature Bank and First Republic Bank raked in profits when venture capital and crypto boomed, but they all learned that tech money comes fast but leaves even faster — threatening the stability of banking and leaving taxpayers and investors on the hook for losses. These bank failures provide a chilling warning for anyone backing the crypto lobby’s efforts to further cement the unsavory world of crypto into the American economy.
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Senate Banking Committee marks up crypto legislation Thursday fulfilling Trump's promises to crypto billionaire friends, despite warnings about taxpayer risks.
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