US Sen. Elizabeth Warren says crypto will ruin economy — Community responds

US Sen. Elizabeth Warren says crypto will ruin economy — Community responds


The downfall of former crypto exchange FTX has had the entire industry in disarray since the situation began to unravel days before it declared bankruptcy on Nov. 11. A new op-ed from United States Senator Elizabeth Warren revealed a negative stance toward the industry with regard to the fallout.

Warren wrote that the crypto industry is on a “well-worn path of financial innovation,” which starts with exciting rewards but ends in “crippling losses.” She compared it to subprime mortgages of 2008, penny stocks and credit-default swaps.

The Senator said what happened with FTX should be a “wake-up call” to regulators to enforce laws on the industry.

Trending: Mysterious 80-Foot Structure Unearthed By Hurricanes Near Famous Florida Beach

On Twitter, some agreed with the Senator, tweeting that the crypto industry is just “smoke and mirrors” and that Warren

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend