Former House Financial Services Chair Patrick McHenry says the crypto industry "had an opportunity to legislate". Could've sworn that was Congress's job.
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- 2026 midterms
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- Blood in the Machine
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PSA: It’s journalistic malpractice to quote a tech super PAC claiming a voter mandate because its candidates won “29 of 32” general election races without checking how many of those races were competitive.
(Pictured: Fairshake’s “victory”, where 81% of their money backed candidates who lost)
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- Fairshake · Leading the Future · 2026 midterms
now that i’ve had more than three hours of sleep i think it’s finally sinking in that in the next couple years i might get to write about hopeful things and not have every podcast interviewer end the episode with “well, on that cheerful note...”
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Here’s a small sample of the letters from Democratic members of Congress I’ve covered since Trump took office. Most were ignored, but they laid the groundwork for what they need to do in January.
from Sen. Richard Blumenthal, Ranking Member, Permanent Subcommittee on Investigations
… illicit use of cryptocurrencies and the Trump Administration’s selfenrichment and self-dealings with cryptocurrency firms. President Trump has made over $2 billion since his return to office, with most of this sum coming from his family’s crypto ventures. … Cantor Fitzgerald’s former Chairman and current Secretary of the Department of Commerce, Howard Lutnick, has made over $250 million in that same time period, …
Dear Mr. Lutnick:
The Senate Permanent Subcommittee on Investigations (“PSI” or the “Subcommittee”) Minority is investigating the illicit use of cryptocurrencies and the Trump Administration’s selfenrichment and self-dealings with cryptocurrency firms. President Trump has made over $2 billion since his return to office, with most of this sum coming from his family’s crypto ventures. Similarly, Cantor Fitzgerald’s former Chairman and current Secretary of the Department of Commerce, Howard Lutnick, has made over $250 million in that same time period, including a $192 million distribution from Cantor Fitzgerald. Cantor Fitzgerald has benefited alongside Lutnick in the last two years, in large part due to its partnership with Tether. Since the President’s return to office, Cantor Fitzgerald’s five percent stake in Tether has increased in value from $600 million to an estimated $10 billion, in addition to the tens of millions of dollars the company collects every year from the assets it holds for Tether. ...
The Senate Permanent Subcommittee on Investigations (“PSI” or the “Subcommittee”) Minority is investigating the illicit use of cryptocurrencies and the Trump Administration’s selfenrichment and self-dealings with cryptocurrency firms. President Trump has made over $2 billion since his return to office, with most of this sum coming from his family’s crypto ventures. Similarly, Cantor Fitzgerald’s former Chairman and current Secretary of the Department of Commerce, Howard Lutnick, has made over $250 million in that same time period, including a $192 million distribution from Cantor Fitzgerald. Cantor Fitzgerald has benefited alongside Lutnick in the last two years, in large part due to its partnership with Tether. Since the President’s return to office, Cantor Fitzgerald’s five percent stake in Tether has increased in value from $600 million to an estimated $10 billion, in addition to the tens of millions of dollars the company collects every year from the assets it holds for Tether. ...
full letter (PDF) · highlights mine
Citation Needed
Crypto and AI’s $250 million election goes sideways
The industries’ biggest bets lost almost across the board.
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- 2026 midterms
got my coffee, got my snacks, ready to watch how crypto and AI’s $250 million campaign finance blitz turns out
it’s thoughtful to schedule Election Day during Discount Chocolate Week
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Citation Needed
A crypto and AI money guide to election night
Where crypto and AI super PACs are spending, what their ads won’t talk about, and which races could embarrass them.
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Binance’s Changpeng Zhao threatening Elon Musk that he will nuke $1 billion in SpaceX shares
(Remember it was CZ threatening to dump FTX’s FTT token that helped kick off FTX’s collapse)
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- Changpeng Zhao · Elon Musk · 2026 Binance hack · Binance