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Molly White

Toomey says some Senators have suggested "pausing cryptocurrency" while hearings go on.

#FTXhearing

14 Dec 2022 at 15:17 | Open on hachyderm.io
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Molly White

The crypto industry clearly has a strong spokesperson and salesman in Senator Toomey.

#FTXhearing

14 Dec 2022 at 15:19 | Open on hachyderm.io
Molly White

Sen. Brown introduces the witnesses. Prof. Hilary Allen and Ben McKenzie Schenkkan (better known as Ben McKenzie) will be critical of crypto; Kevin O'Leary and Jennifer Schulp are both pro-crypto.

#FTXhearing

14 Dec 2022 at 15:21 | Open on hachyderm.io
Molly White

First up is Prof. Hilary Allen. Her statement is challenging crypto's claims they are decentralized. She has suggested that "a ban on crypto would be the most straightforward".

She says that if legislators are not willing to proceed with a ban, then they must be very careful not to enact laws that would make crypto "too big to fail".

#FTXhearing

14 Dec 2022 at 15:29 | Open on hachyderm.io
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