As Treasury Secretary Scott Bessent testified before the House Financial Services Committee Wednesday morning, Rep. Brad Sherman pressed Bessent over whether the U.S. government could ever step in to “bail out” bitcoin. 

Bessent was presenting over the Financial Stability Oversight Council’s annual report on emerging economic risks and much of the comments and questions from the Council reference the Trump administration growing scrutiny over its economic agenda. 

During a tense exchange, Sherman referenced the 2008 financial crisis and argued that bailouts have historically protected powerful institutions when markets collapse. 

He asked whether Treasury or federal…

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