PANews reported on October 22nd, according to DL News, that the cryptocurrency crash has become a political issue in the United States. Democrats are warning that the government shutdown could trigger another market disaster, and that the paralysis of federal regulatory agencies has exposed investors to significant risks. Maxine Waters, the top Democrat on the House Financial Services Committee, issued a statement on the 21st day of the shutdown, blaming Republicans. She said that Trump and congressional Republicans are integrating cryptocurrencies into the traditional financial system without an appropriate regulatory framework, amplifying risks and threatening to cause similar crashes to spread more quickly to the traditional financial sector in the future. Following the October 10th market crash, Waters stated that the sell-off cost investors billions of dollars and drove traders into traditional safe-haven assets. Furthermore, the flash crash sparked calls for an investigation into insider trading after analysts discovered a single wallet deposited millions of dollars into the Hyperliquid decentralized exchange shortly before the crash. This wallet established significant leveraged short positions in Bitcoin and Ethereum, allegedly profiting over $150 million after the price crash. Waters called on the SEC and CFTC to conduct a thorough investigation and hold the perpetrators accountable. However, with these institutions effectively stagnant, investors have lost key protections and are "extremely vulnerable to another catastrophic crash."PANews reported on October 22nd, according to DL News, that the cryptocurrency crash has become a political issue in the United States. Democrats are warning that the government shutdown could trigger another market disaster, and that the paralysis of federal regulatory agencies has exposed investors to significant risks. Maxine Waters, the top Democrat on the House Financial Services Committee, issued a statement on the 21st day of the shutdown, blaming Republicans. She said that Trump and congressional Republicans are integrating cryptocurrencies into the traditional financial system without an appropriate regulatory framework, amplifying risks and threatening to cause similar crashes to spread more quickly to the traditional financial sector in the future. Following the October 10th market crash, Waters stated that the sell-off cost investors billions of dollars and drove traders into traditional safe-haven assets. Furthermore, the flash crash sparked calls for an investigation into insider trading after analysts discovered a single wallet deposited millions of dollars into the Hyperliquid decentralized exchange shortly before the crash. This wallet established significant leveraged short positions in Bitcoin and Ethereum, allegedly profiting over $150 million after the price crash. Waters called on the SEC and CFTC to conduct a thorough investigation and hold the perpetrators accountable. However, with these institutions effectively stagnant, investors have lost key protections and are "extremely vulnerable to another catastrophic crash."

Senior US Democrats warn: Trump could cause another "catastrophic crash" in the crypto market

2025/10/22 18:23

PANews reported on October 22nd, according to DL News, that the cryptocurrency crash has become a political issue in the United States. Democrats are warning that the government shutdown could trigger another market disaster, and that the paralysis of federal regulatory agencies has exposed investors to significant risks. Maxine Waters, the top Democrat on the House Financial Services Committee, issued a statement on the 21st day of the shutdown, blaming Republicans. She said that Trump and congressional Republicans are integrating cryptocurrencies into the traditional financial system without an appropriate regulatory framework, amplifying risks and threatening to cause similar crashes to spread more quickly to the traditional financial sector in the future. Following the October 10th market crash, Waters stated that the sell-off cost investors billions of dollars and drove traders into traditional safe-haven assets.

Furthermore, the flash crash sparked calls for an investigation into insider trading after analysts discovered a single wallet deposited millions of dollars into the Hyperliquid decentralized exchange shortly before the crash. This wallet established significant leveraged short positions in Bitcoin and Ethereum, allegedly profiting over $150 million after the price crash. Waters called on the SEC and CFTC to conduct a thorough investigation and hold the perpetrators accountable. However, with these institutions effectively stagnant, investors have lost key protections and are "extremely vulnerable to another catastrophic crash."

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How One Man Cryptojacked Ethereum from His Former Workplace

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The post How One Man Cryptojacked Ethereum from His Former Workplace appeared on BitcoinEthereumNews.com. A Minnesota man was sentenced to fines and probation after a yearlong Ethereum cryptojacking scheme. He compromised his former employer’s systems to mine ETH every night for around a year. Despite causing $45,000 in server costs, the culprit earned less than $6,000. Economic desperation fueled this low-profile crime, and deteriorating circumstances may lead to similar incidents. Ethereum Cryptojacking Explained Cryptojacking, exploiting a computer to mine digital assets, is an old scheme in the crypto space that has popped back up periodically. Recently, a Minnesota man was sentenced to three years of probation and a $45,000 fine for cryptojacking his former employer to mine Ethereum. Sponsored Sponsored According to local press, Joshua Paul Armbrust used a cryptojacking scheme to surreptitiously mine Ethereum for over a year. After resigning from Digital River, a payment processing and e-commerce firm, he used his AWS access to making the firm’s computers mine ETH from 6 PM to 7 AM on a daily basis. “The defendant’s conduct strikes at the core of digital trust and security. Companies rely on former employees to act ethically, even after separation, and to respect corporate systems and data. Unauthorized access to corporate cloud infrastructure… exposes sensitive systems to potential compromise,” said Assistant US Attorney Bradley Endicott. However, compared to some previous cryptojacking schemes, this Ethereum mining operation was rather small. In total, Armbrust only managed to mine and liquidate $5,895 worth of ETH. These activities cost Digital River upwards of $45,000 in service fees. All things considered, this wasn’t an effective operation. Still, the defendant accepted responsibility for these actions, claiming that he used the funds to care for his ailing mother. This, and the fact that he didn’t cover his tracks, helped him win a light sentence. Although Armbrust will have to recoup Digital River’s server costs and serve…
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2025/10/23 08:03
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