Bitcoin by Antanacoins, licensed under CC BY-SA 2.0
During a Tuesday hearing on stablecoins, Senate Banking Committee Chair Sherrod Brown (D-Ohio) sharply criticized the wave of cryptocurrency advertisements that aired during the Super Bowl. He said that the crypto platforms behind the commercials are not appropriately alerting Americans about the risks associated with cryptocurrency investing. "The fact that these firms deemed that ads were necessary at all speaks volumes about one of their primary promises," Brown said during the hearing. He further added, “I don’t think I’ve ever seen, in 40 years of Super Bowl watching, the Federal Reserve buy a multimillion-dollar commercial for U.S. dollars.” “That’s because crypto isn’t money. It’s designed for speculation.”
