Crypto Is a ‘Crock’? Twitter Reacts to House ICO Hearing

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.

Still other users simply found Sherman’s ideas about the space amusing.

‘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…

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