Representative Nydia Velázquez highlights that almost 40% of Puerto Ricans live in poverty despite the influx of wealthy crypto investors

Quotes that support claims

“This wave of crypto investors hasn’t helped Puerto Rico’s recovery or strengthened the local economy,” Velazquez said. “Instead, it’s driven up housing costs, pushed out local residents, and added pressure to an island where nearly 40% of people live in poverty — all while costing the federal government billions in lost tax revenue.”

“This wave of crypto investors hasn’t helped Puerto Rico’s recovery or strengthened the local economy,” said Rep. Velázquez, according to Bloomberg. “Instead, it’s driven up housing costs, pushed out local residents, and added pressure to an island where nearly 40% of people live in poverty — all while costing the federal government billions in lost tax revenue.”