The GENIUS Act stablecoin bill has stalled in the Senate with key Democrats — including some of its early co-sponsors — voting against it. Democratic opposition increased after Trump’s World Liberty Financial cryptocurrency platform released its own stablecoin, allowing the president to profit from transactions including a $2 billion deal between the Emirati state-owned investment firm MGX and the Binance crypto platform.
Senators who voted against the bill include Ruben Gallego (AZ), Mark Warner (VA), Lisa Blunt Rochester (DE), Andy Kim (NJ), Kirsten Gillibrand (NY), and Angela Alsobrooks (MD). Gallego was one of the top recipients of crypto industry campaign funds in 2024, receiving $10 million in crypto super PAC backing.
@molly0xfff They aren't even pretending to not be corrupt these days. 🙄
@molly0xfff fascinating. @ddayen.bsky.social was sounding quite fatalistic about the prospects for the GENIUS act yesterday.
https://universeodon.com/@ddayen.bsky.social@bsky.brid.gy/114469442492640976
@molly0xfff
This is great news. I just called my Senators today. They were for it and I said it was dangerous and corrupt. Maybe it was my call? 😆
Here’s the full breakdown of votes:
https://www.senate.gov/legislative/LIS/roll_call_votes/vote1191/vote_119_1_00240.htm
@molly0xfff so pretty much along party lines.. those R’s will get battered by the buffoon and his henchmen
Republicans Josh Hawley (MO) and Rand Paul (KY) joined the Democrats in voting against it. Senate Majority Leader John Thune (SD) also voted nay, though that was a procedural move intended to allow him to reintroduce the bill.
@molly0xfff So the Republican Party has gone so off the rails that people like Rand Paul find themselves closer to democrats
