Wendy Sherman: “Now, the crypto industry knows that their arguments are bad, and the advice given to anyone who has a bad public policy…”

“Now, the crypto industry knows that their arguments are bad, and the advice given to anyone who has a bad public policy is when you come to Washington, you better bring a lot of money. It is being said that Sam Bankman-Fried showered money on Democrats, but what actually happened is exemplified by his statements just last month. He said he gave equal amounts to Democrats and Republicans. He gave the money to Democrats above the table, and he gave the money to Republicans to dark money organizations, super-secret super-PACs. He explained his reasoning, and it actually makes sense. He says the press is liberal. I know my colleagues on the Republican side agree with that, and that the press would vilify him if he was giving money to Republicans. So he gave the money to Democrats above the table, to Republicans under the table, and according to him kept it about equal. But, of course, Sam Bankman-Fried wasn't the only one involved in FTX. We have also his co-CEO of one of the FTX organizations, Ryan Salame, who gave many tens of millions of dollars exclusively to Republicans. Now, I want to discuss the role that crypto plays in light of our capital markets.…”