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During a Senate Banking Committee hearing entitled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers” earlier this month, Sen. Chris Van Hollen (D-MD) questioned witnesses about what needs to be done to properly regulate cryptocurrencies, and what exactly gives it value.
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Crypto can be described as a "who owes you nothing" currency.
Thank you senators FOR THE omibius bill FROM HELL
In the simplest of terms, Crypto is backed by a wing & a prayer.
Along with an army of scammers.