US Democratic lawmaker: Trump may trigger another "catastrophic crash" in the cryptocurrency market
On October 22, according to DLNews, Maxine Waters, the top Democrat on the U.S. House Financial Services Committee, warned that the ongoing government shutdown is laying the groundwork for another market disaster. She stated that Trump and the Republican Party are attempting to integrate cryptocurrency into the traditional financial system without establishing an appropriate regulatory framework, increasing the likelihood of a future collapse. Waters pointed out that the government shutdown has entered its 21st day, with 90% of the U.S. Securities and Exchange Commission staff forced to take leave and most enforcement activities suspended, while the Commodity Futures Trading Commission has also effectively shut down. During the market crash on October 10, Bitcoin plummeted by 14.6%, Ethereum dropped by 21%, Dogecoin fell by more than 50%, and the $TRUMP token saw a minimum decline of 63%, resulting in investor losses of billions of dollars. Waters stated that the regulatory vacuum left by the agencies exposes investors to the risk of "another catastrophic collapse."
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