Ranking Member Waters Sounds the Alarm on the Impact Of the Three Republican-led Crypto Bills

Ranking member Waters, if these crypto bills were to become law, what risks would investors face for that question? Um, investors will be suckers in the way that Trump has already shown us they can be. He made money uh on his first um was it memecoin and um the market makers I believe helped to drive up what looked like you know the growth in the profits but then they pulled the rug and guess who let got left hang the investors you know investors who actually believe that because the president of the United States was involved that they were going to make money and that it would be legit. Let me just say I do not blame everybody on either side of the aisle because they have not been explained. They really don't know these bills. They have not been explained what they're all about. many of the huge resources that have been invested in the crypto owners having their way didn't even describe to those who were beneficiaries what the bills were and what they do and so investors stand to lose as I said I've been through what happened in the United States when we had the big meltdown uh when all of the fraudulent or um bills came through the bank system and people thought they were going to own a home without the increase in interest rates rising on them etc etc. I know how dangerous this can be and so it is investors who will lose uh in their investments, they will lose their 401ks. They will lose their homes. They will lose everything messing around with this fraudulent, corrupt administration that is bringing before the Congress of the United States brazantly something that only allows the president of the United States in connection with foreign companies to do what we see happening now. I just explained FTX. You all remember FTX. Well, you think that's bad. You watch what would happen if in fact we let these bills be passed. So, I hope that answers your question.