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Gungun Bhatia
Nov 14, 2022
by Gungun Bhatia

Brad Sherman Slams Billionaire Crypto Dudes for Holding Up Legislation

Brad Sherman Crypto Legislation

Table of contents

  1. Sherman to Collaborate With Congressional Colleagues
  2. References to SBF and Ryan
Congressman Brad Sherman of the United States, a well-known cryptocurrency critic, has blamed "billionaire cryptocurrency bros" for delaying urgently required crypto legislation.

Sherman to Collaborate With Congressional Colleagues

Brad Sherman stated in a statement on November 13 that the downfall of the crypto exchange FTX has shown that authorities must act swiftly and forcefully. He further claimed that the unexpected collapse this week of one of the biggest cryptocurrency companies in the world has been a spectacular illustration of both the risks associated with digital assets and the industry's significant flaws.

According to Brad Sherman, he intends to collaborate with his congressional colleagues to look at potential federal crypto legislation, hoping that it can be done without being influenced financially by those who operate in the sector. He further stated that to date, wealthy crypto dudes' efforts to block significant legislation by saturating Washington with millions of dollars in political donations and lobbying expenditures have been successful.

References to SBF and Ryan

Sherman made specific note of ex-FTX CEO Sam Bankman-Fried and his contributions to the Democratic Party. However, he also cited Ryan Salame, the company's co-CEO, who made a payment to the Republican Party in 2022.

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Cryptocurrency Brad Sherman Sam Bankman-Fried Congressional Colleagues
Brad Sherman Slams Billionaire Crypto Dudes for Holding Up Legislation
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.