Congressman Brad Sherman of the United States, a well-known cryptocurrency critic, has <a href="https://sherman.house.gov/media-center/press-releases/congressman-brad-sherman-statement-on-collapse-of-ftx" target="_blank" rel="nofollow noopener">blamed</a> "billionaire cryptocurrency bros" for delaying urgently required <a href="https://www.cryptoknowmics.com/news/cftc-strikes-order-against-fraudulent-cryptocurrency-arbitrage-company">crypto</a> legislation.
<h2>Sherman to Collaborate With Congressional Colleagues</h2>
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.
<h2>References to SBF and Ryan</h2>
Sherman made specific note of ex-FTX CEO <a href="https://www.cryptoknowmics.com/news/sbf-no-longer-a-billionaire-after-14-6b-overnight-wipe-out">Sam Bankman-Fried</a> 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.

Brad Sherman Slams Billionaire Crypto Dudes for Holding Up Legislation

Brad Sherman of the United States has blamed "billionaire cryptocurrency bros" for delaying urgently required crypto legislation.

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Brad Sherman Slams Billionaire Crypto Dudes for Holding Up Legislation

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