Our Revolution Slams Senate Democrats for Betraying Working Americans by Rubberstamping the GENIUS Act
“Big Crypto poured $119 million into the 2024 elections—more than any other industry—and now they’re getting exactly what they paid for. The 18 Senate Democrats who backed this bill sold out and should be ashamed of themselves.”
WASHINGTON, DC — Last night, the U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act—a controversial bill championed by crypto giant Coinbase and other deep-pocketed industry players.
Joseph Geevarghese, Executive Director of Our Revolution—the nation’s largest independent political organizing group founded by Sen. Bernie Sanders in 2016—issued the following statement following the vote:
“The GENIUS Act is a gift to the ultra-wealthy and a disaster for working Americans. It gives even more power to billionaires like Zuckerberg and Musk—letting them launch their own digital currencies to harvest your data and track your every move.
“It pretends to regulate, but it’s full of loopholes that open the floodgates to fraud, scams, and criminal abuse by drug cartels, terrorist groups, and hostile foreign regimes. And unbelievably, the bill even includes a carveout that allows Trump to personally profit off of crypto.
“Big Crypto poured $119 million into the 2024 elections—more than any other industry—and now they’re getting exactly what they paid for. The 18 Senate Democrats who backed this bill sold out and should be ashamed of themselves.”
Our Revolution has led national opposition to this harmful legislation. Prior to the vote, it presented the Senate with a petition signed by more than 10,000 grassroots activists demanding lawmakers oppose the GENIUS Act.
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Our Revolution is America’s largest grassroots independent political organizing group, born out of Senator Bernie Sanders’s 2016 presidential campaign. It focuses on mobilizing communities, electing progressive champions, advocating for progressive policies, and transforming the Democratic Party to serve people, not corporate interests.