If Angela votes again to justify cryptocurrency, she makes the second mistake in Maryland’s newest young career as the US Senator. I take it personally.
My great grandfather began as a blacksmith in Oakland, a small town in western Maryland. He grew the service into a hardware store, then sold retail equipment and furniture, and added banks. Today, integrated into First United Bank & Trust, this public company is worth millions.
Warren Buffett recently retired as America’s biggest investor and has accumulated conglomerates that own Jaco, Coca-Cola, Goldman Sachs, Wells Fargo, Benjamin Moore, Clayton Holmes, Duracell, Fruit Glory, and many other companies, all or a significant share in the company. Its total value exceeds $1 trillion.
Bitcoin, which generates revenue and does not pay dividends, does not supply hardware, batteries or car insurance, but is worth more than $2 trillion.
President Donald Trump once dismissed Bitcoin as “based on thin air.” As a “fraud,” it “can promote illegal behavior, such as drug trafficking or other illegal activities.”
These words reflect the views of public citizens and many Americans, most of whom look dimly at the code.
Now Trump has declared himself as Crypto President. And, badly, due to an unprecedented tsunami of political spending by a few codes “brothers” or promoters, the politically threatened Congress has already approved one code and is preparing to approve another earlier this month.
Brooks also appears to be on the path to parting with Senator Chris Van Hollen, and will be able to join the Brothers again in the September poll.
Notoriously, the crypto sector spent about $40 million in defeating Sen. Sherrod Brown (D-Ohio), one of Capitol Hill’s most caustic crypto critics. Crypto Bros has more than any other industry in the history of such spending, with Crypto Bros spending more than $119 million in the 2024 election.
The Crypto sector spent $10 million to challenge the then-repeated repetitions of California’s Senate’s major bids. Katie Porter (D-Calif.), they identified it as anti-crypt. Porter’s muted public declaration on cryptography addressed the enormous computing energy costs required primarily to confirm transactions or “mining”. Today’s crypto mining absorbs more energy than in Argentina’s nation.
In crime, stubcoins carry out largely anonymous transactions across borders at high speeds. Researchers at Georgetown reported in 2024 that illegal transactions with Stablecoins exceeded $51 billion from $46 billion in 2023.
These cryptocurrencies are fixed one-to-one in Fiat currency. For $1, you would buy one tether token, for example. It is the most widely used. Tethers are widely used in illegal commercial transactions.
Trump is currently publishing Stablecoin, which is used for Middle Eastern projects. For sponsors, Stablecoin is an interest-free loan. After Abu Dhabi sent $2 billion to Trump, he sold newly conceived tokens worth $2 billion. He can buy the Treasury and pocket interest until they redeem their dollars.
The pending vote on the September Responsible Financial Innovation Act (or more precisely the Ponji Finance Enablement Act) concerns all other cryptocurrencies, including Bitcoin. As stated, all Bitcoin is worth around $2 trillion in total, while tens of thousands of other cryptocurrencies are worth more than $1 trillion.
Relying on the “Great Fool” theory, purchasing Bitcoin does not earn a dividend, interest payment, goods or service producers to the buyer. It’s just “thin air” because Trump once smelled correctly. The owner must find a buyer who is willing to pay a higher price than him.
However, political spending appears to strike politicians’ concerns about these clear issues of the Ponzi scheme, illegal finances, energy waste, and Trump’s glyft.
Crypto Bro’s political spending is specifically buying ads that Crypto doesn’t mention. The ads, which most Americans understand oppose cryptographic, focus on other virtues of custody candidates, exaggerating the failure of anti-cryptic candidates.
Already, the Crypto brothers have gathered $100 million war chests for the 2026 medium-term elections, and they are threateningly making public. Some senators may calculate that it is safer to vote in code. Members may hold the code with low respect, but do not encourage votes in elections, as wars, reproductive rights, tax equity and healthcare costs are frequently carried out in the Middle East and Ukraine. Voting for Crypto will result in a flood of opposition ads during election season, but will not win many votes.
Ideally, Senators will not surrender to cipher brother spending. Ideally, she would suspend harmful laws and demand that Trump be expelled from the crypto venture. This is expelled from Crypto Ventures, an illegal profit dispute violation, and argues meaningful consumer and investor protection measures from this Ponzi scheme. Ideally, she will not vote for the Ponzi Finance Enablement Act. Ideally, she would honor the labor of small businessmen, such as my great grandfather.
Maryland native Bartlett Naylor is a public citizen monetary policy advocate in Washington, DC, and his email is bnaylor@citizen.org.
