As my colleague David Dayen has been covering here at the Prospect, the cryptocurrency “industry” is in the midst of a major lobbying push to get pro-crypto legislation through Congress. The sticking point is the Senate, where to get around the filibuster’s 60-vote requirement, at least seven Democratic votes would be needed, assuming every Republican supports it.
That support seemed to be forthcoming, until Donald Trump started using crypto for some of his habitual mind-boggling corruption. Just before taking office, he launched a meme coin and then immediately rug-pulled buyers to the tune of $350 million; he then promised that the biggest $TRUMP bag-holders would get a dinner at the White House. Then Trump…
