Remember when US Congressman Brad Sherman said "maybe we do print money out of thin air, but we're the US government"

3 months ago, we had a hearing about the future of digital assets in which congressman Brad Sherman said

"Crypto bros ... made over a trillion dollars out of thin air," "They'll accuse the U.S. government of making money out of thin air. Maybe we do, but we're the U.S. government."

Little does he know that the US government went off the gold standard long ago and now does not require gold to print money like they used to before. While for his accusations of crypto bros printing trillions of dollars out of thin air is just false. People buy btc because it is the digital gold. People buy eth because it can be used for defi. People buy altcoins and memecoins to speculate. Stable companies are also mostly regulated now and provide audits or attestations (tether)

Link to the entire hearing for those who missed it or are hearing about it for the first time - https://www.youtube.com/live/axdrK4ImXAY?feature=share