Finance

“Crypto is a lousy investment”- U.S Senator, Elizabeth Warren, warns in new video

"Crypto is a lousy investment"- U.S Senator, Elizabeth Warren, warns in new video

According to report reaching oyogist.com, U.S Senator, Warren exploded at a session of the Senate Banking Committee discussing a U.S. government-backed central bank digital currency on Wednesday.

Comparing decentralized crypto assets to a CBDC, she said that crypto is a “fourth-rate alternative to real currency,” adding that “legitimate digital public money could help drive out bogus digital private money.”

The irate Senator did not stop there, calling out pump and dump schemes and price manipulation where she fingered Dogecoin, stating that “crypto is a lousy investment” compared to the stock market.

The Massachusetts senator also voiced her opinion on digital assets being tied to many illegal activities, all “made easier with crypto.” With reference to the recent ransomware attacks on Colonial Pipeline and JBS, Warren also insinuated that cryptocurrencies were encouraging cybercrime:

“Every hack that is successfully paid off with a cryptocurrency becomes an advertisement for more hackers to try more cyberattacks,”

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