Senator Kirsten Gillibrand, once a staunch progressive, has become a key advocate for the crypto industry, raising ethical concerns. Her shift began after her presidential campaign ended, when she started learning about crypto through constituents and regulators. Gillibrand saw an opportunity to regulate an industry she described as 'full of corruption, so much grift, so much wild west.'
In 2025, she co-sponsored the GENIUS Act, setting federal rules for stablecoins, and this year, she pushed for the CLARITY Act, which aimed to move digital-asset trading under the Commodity Futures Trading Commission. The bill failed due to disagreements over preventing politicians from profiting from crypto.
Gillibrand's ties to the industry run deep. Her son heads a crypto-backed startup seeking regulatory approval, and her campaign has received substantial crypto donations. Former aides have moved between her office and the crypto industry, raising questions about potential conflicts of interest.
Gillibrand defended her actions, stating that she saw crypto as a way to provide banking services to unbanked households. She partnered with Republican Senator Cynthia Lummis to draft the Responsible Financial Innovation Act, aiming to establish clear regulations for the industry.