WASHINGTON – U.S. Senate Majority Whip Dick Durbin (D-IL) spoke on the Senate floor highlighting the dangers of cryptocurrency and emphasizing his continued skepticism. During his speech, Durbin outlined the collapse of various crypto firms such as FTX, which imploded and led to the resignation of CEO Sam Bankman-Fried a few months ago. “It’s been called ‘new money,’ ‘digital cash,’ and even the way of the future. I have another name for it: reckless, predatory, foolish, dangerous. I’m referring, of course, to cryptocurrency. The latest scam to rip off millions of hardworking Americans to the tune of billions of dollars. In under a decade, this industry skyrocketed in popularity—and raked in big bucks for its leading speculators—before exploding into dust for all the world to see,” said Durbin. In 2022, Bitcoin cratered—losing more than 60 percent of its value in one year. If you purchased one Bitcoin
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