The crypto industry walked into a Senate hearing about affordability hoping to make its case. It walked out with a reality check.
Senator John Kennedy, the Louisiana Republican known for his sharp questioning style, largely dismissed what he characterized as the “promotion” of cryptocurrency during a Senate Banking, Housing, and Urban Affairs Committee hearing on June 23. The session, titled “The Affordability Agenda,” was focused on the bread-and-butter costs squeezing American consumers, not the merits of digital assets.
Digital Chamber CEO Cody Carbone was among the witnesses called to testify. He attempted to connect digital assets to the broader affordability conversation. Kennedy wasn’t buying it.
A crypto pitch in the wrong room
The hearing featured a lineup that tells you exactly where the committee’s head was at. Alongside Carbone sat Lindsey Johnson from the Consumer Bankers Association, Kevin Brown from the National Association of Realtors, and economist Dr. Julie Margetta Morgan from The Century Foundation.
