Despite the overall measured tone among lawmakers at Wednesday’s House subcommittee hearing on initial coin offerings, a few members of the panel made inflammatory statements.
Social media users responded in kind.
The most incendiary comment came from California Rep. Brad Sherman, who called cryptocurrencies a “crock.” While some Twitter users merely encouraged him to educate himself on the topic, his incredulity that anyone would need alternatives to the legacy banking system and his warnings about a crypto-funded terror attack drew harsher responses.
@BradSherman with all due respect sir, please do not speak about cryptocurrency again. You obviously know too little about it to make competent statements and you obviously need some history lessons. #ICOsInTheHouse #cryptocurrency
— The Brainman of crypto (@theBrainium) March 14, 2018
“Cryptocurrencies are a crock. They are popular with guys who sit around in their pajamas and tell their wives they’re going to be millionaires.” – Congressman @BradSherman
Technological illiteracy aside, thank you for the sexist slight.#ICOsInTheHouse
— Sarah Howland (@sarahvhowland) March 14, 2018
Tagging @BradSherman because I’d rather talk to him than about him. Congressman, your views on cryptocurrencies are outdated & poorly researched. You showed extreme ignorance of both the world economy and the technology behind crypto. You left mid-hearing, why? #ICOsInTheHouse
— Michelle L. Staton (@MichelleLStaton) March 14, 2018
Rep. @BradSherman of the US House is far too behind given his old age & far too ignorant that it is not even laughable.
“Perhaps we’ll have another hearing when a terrorist group has been found using cryptocurrency.” ~ @BradSherman
When has cash not done that?#ICOsInTheHouse
— Neeraj Thakur (@NeerajT4) March 14, 2018
Still other users simply found Sherman’s ideas about the space amusing.
Funny I am watching Sherman complain about crypto having no social benefit and how harmful it is while embedded in the Financial Services website right beside the video is a tracker of the national debt. #ICOsInTheHouse
— Crypto TDH (@JHoffa9) March 14, 2018
Hoping Shermans salt power fans btc’s flames like Jamie Dimons did last year it could use the fuel #ICOsInTheHouse
— slop (@SloppyProfits) March 14, 2018
‘A bright light’
At the other end of the spectrum, Minnesota Rep. Tom Emmer, a member of the Congressional Blockchain Caucus, was lauded on crypto Twitter for breaking with his fellow lawmakers with a full-throated defense of the technology…