Sen. Warren goes after Ethereum network fees in committee hearing
"High, unpredictable fees can make crypto trading really dangerous for people who aren’t rich," said Senator Warren. Democratic Senator Elizabeth Warren, known by many as an outspoken cryptocurrency skeptic in the U.S. government, criticized outages at exchanges and high transaction fees during periods of price volatility.In a Tuesday hearing of the Senate Committee on Banking, Housing, and Urban Affairs with Securities and Exchange Commission chair Gary Gensler, Warren claimed the crypto industry had fallen short on providing solutions for financial inclusion in the United States. She....
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U.S. Senator Elizabeth Warren criticized Bitcoin and cryptocurrencies yesterday in a Banking Senate Subcommittee hearing. In the hearing, Warren criticized the energy consumption that Bitcoin and other proof-of-work (PoW) cryptocurrencies need to operate. Warren also thinks cryptocurrencies are the “wild west” of investments and called for a regulatory crackdown on the industry. Some on social media were quick to bite back, however, pointing out Warren’s flawed logic and perceived hypocrisy. Senator Elizabeth Warren Takes on Bitcoin Senator Elizabeth Warren declared her....
At the U.S. Senate Banking Committee hearing Tuesday, Senator Elizabeth Warren called on the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, to increase oversight of cryptocurrency. She brought up several problems she associates with cryptocurrency that could hurt small investors. Senator Elizabeth Warren Says ‘There’s a Whole List of Problems With Crypto’ U.S. Senator Elizabeth Warren questioned U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler about several issues regarding cryptocurrency at the Senate Banking Committee....
Co-founder of Chainalysis Jonathan Levin attempted to counterargument the anti-crypto narrative used by U.S. Sen. Elizabeth Warren, but he was constantly interrupted by the senator who seems reluctant as ever to change opinions. During the hearing “Understanding the Role of Digital Assets in Illicit Finance”, Sen. Warren presented a hypothetical scenario about the use of […]
The US Senate Committee on Homeland Security and Governmental Affairs has set 18th November as the date for its hearing into bitcoin and other cryptocurrencies. US Senator Tom Carper, chairman of the committee, said last week that the aim of the hearing, titled 'Beyond Silk Road: potential risks, threats, and promises of virtual currencies', is to "dig into what a whole-government approach to this new and unique technology may look like". According to a post on the Bitcoin Talk forum, several people representing bitcoin interests have been invited to testify, including members of the....
On Saturday, Ethereum transaction fees tapped a low not seen since November 2020 as the average network fee dropped to 0.0016 ether or $1.67 per transfer. Average fees on Saturday have been as low as 32 gwei or $0.69 per transfer as Ethereum gas fees have been steadily dropping since May 11, 2022. Ethereum Fees Drop to the Lowest Range Since November 2020 Ethereum’s average gas fees tapped a low on July 2, 2022, not seen in 19 months or November 12, 2020. Essentially, the gas or network fee is a quantity of ethereum (ETH) that is required to push a transaction on the blockchain....