unusualwhales could be intentionally misinterpreting the intent of the congressman. Or, they can be correct.

Another site [1] explains this as a the congressman is questioning whether SEC is practicing selective-outrage, rather than the function of governance.

Finding a really bad apple, and then using to blaming the whole industry of de-centralized finance, is very similar how criminal activities are used to persecute legal firearm ownership in US.

With that said, this republican politician is a lawyer, -- and to my 'layman' mind -- every lawyer politician is bad, unless they prove otherwise.

[1] https://tokenist.com/congressman-says-ftx-not-failure-of-cry...