A private group chat of Democratic Party operatives and crypto industry advocates has been secretly coordinating to push Democratic senators to support major cryptocurrency-friendly legislation up for a vote on Tuesday. In the chat, they admitted that while “Trump’s corruption is manifesting dramatically in crypto,” it would be “political suicide” for Democrats to reject doing the industry’s bidding, even if they have reservations about the impacts on consumers and the financial system.
In the Signal chat, the contents of which were viewed by the Lever, influential Democratic figures noted they “need to win the next election, which means we can not afford to alienate a very vocal and wealthy group of donors.”
To provide political cover for supporting the crypto industry’s legislative giveaway, group chat members suggested pro-crypto allies in the Democratic caucus could introduce symbolic anti-corruption amendments to the final bill prohibiting President Donald Trump and elected officials from profiting from cryptocurrencies knowing the effort would be “DOA,” or dead on arrival, since the language would likely be voted down by Republicans.
According to a new financial disclosure, Trump has so far netted nearly $60 million from the launch of various crypto coins through his company World Liberty Financial. He has also launched his own stablecoin that an Abu Dhabi investment firm plans to invest $2 billion in.
The internal text messages in the chat, named “Dem Crypto Policy Roundtable,” offer a behind-the-scenes look at how crypto interests are working closely with top Democratic Party insiders just three years after the crypto industry was in a free fall amid multiple criminal investigations and popular cryptocurrencies collapsing.
These hidden group chats, whose messages are usually set to disappear after a short time frame, are increasingly becoming a key communication channel between Washington and Silicon…
Auteur: Freddy Brewster
