President Donald Trump has rejected Bitcoin, once the most popular cryptocurrency, “on the basis of a thin air.” It’s 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 calls himself the 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.
Virginia Sen. Mark Warner will be rejoining his brother this month and will be able to vote as he did in his first law, the Genius Act.
The Crypto sector spent about $40 million overthrowing Sen. 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.
Notoriously, the crypto sector spent $10 million on a major bid battle for California’s Senate. Katie Porter, D-Calif. . 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 peg to Fiat currency 1-1. 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.
This month, the pending vote on the Responsible Financial Innovation Act (or more precisely the Ponji Finance Enablement Act) is about all other cryptocurrencies, including Bitcoin. All Bitcoin is worth around $2 trillion, while tens of thousands of other cryptocurrencies are worth over $1 trillion.
Relying on the “Great Fool” theory, buying Bitcoin does not give buyers dividends, interest payments, or produce goods or services. 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 against Crypto will result in a flood of opposition ads during election season, but may not win many votes.
Ideally, Warner will not surrender to cipher sibling spending. Ideally, he would halt the 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. Ideally, he will not vote for the “Ponzi Finance Enablement Act.”
Arlington’s Bert Naylor is a public citizen monetary policy advocate.
