In the aftermath of the FTX collapse, US Congressman Brad Sherman lashed out at the crypto industry, blaming “billionaire crypto bros” for attempting to delay “meaningful legislation” from the federal government. The crypto ultra-rich were well-represented among political donors in the recent US midterm elections. Sherman, the current Chairman of the Subcommittee on Investor Protection and Capital Markets, said the recent collapse of FTX was a “dramatic demonstration of both the inherent risks of digital assets and the critical weaknesses in the industry that has grown up around them,” and he wholeheartedly supports efforts to “hold those responsible accountable.”
