WASHINGTON, May 6 – As the Senate considers legislation that would enrich Trump and his billionaire backers and endanger our financial system, Sen. Bernie Sanders (I-Vt.) today announced that he will host a conversation with cryptocurrency experts on Wednesday regarding the GENIUS Act. The discussion will be livestreamed on the senator’s Facebook, X, and YouTube, and through Act.tv.
The GENIUS Act threatens the stability of our financial system by undermining critical anti-money laundering, consumer protection and anti-corruption rules, which would have the impact of benefiting criminal actors across the world. The legislation also makes it easier for President Trump and his family to continue to engage in corrupt dealmaking enabled through their cryptocurrency, to the great benefit of themselves and their tech oligarch backers. In just the last month, two separate New York Times front-page reports exposed the Trump family’s cryptocurrency corruption.
“Under the Trump administration, we have seen a coordinated effort to boost the cryptocurrency industry to directly benefit President Trump and his oligarch allies,” said Sanders. “In one case, President Trump is hosting a dinner with people who paid, in some cases millions, to purchase his meme coin. In another, the president stands to make tens of millions of dollars in profits directly from an Abu Dhabi-connected fund’s $2 billion investment in his crypto venture. If that’s not a troubling form of corruption, I don’t know what is.”
“In the face of this corruption, you might hope that Congress would step in to clamp down on corruption. Instead, Congress is moving quickly to pass the GENIUS Act, which may make a bad situation much worse,” continued Sanders. “I look forward to hearing from experts who can help more Americans understand this bill’s serious risks to our economy.”
Details:
What: Livestream conversation with Sen. Bernie Sanders and crypto experts
When: Wednesday, May 7, 4:00 p.m. ET
Where: The conversation will be livestreamed on Sanders’ social media.
Who:
- Sen. Bernie Sanders (I-Vt.)
- Sacha Haworth, Executive Director of The Tech Oversight Project
- Corey Frayer, Director of Investor Protection at the Consumer Federation of America
Press RSVP: Press interested in tuning in are encouraged to RSVP with press@sanders.senate.gov.
