Defeat Donald TriumphThe authoritarian movement requires the largest industry to fund it: cryptocurrency.
We know that most people’s eyes glaze over at the mere mention of the word “crypto.” Industry lobbyists depend on it; They win when the public is kept in the dark. But this is the biggest story of money and power in American politics right now, and it’s important for us all to pay attention.
We come at this from different directions. Ben is an actor, author and filmmaker who spent years investigating crypto fraud. Ezra co-founded Indivisiblea grassroots pro-democracy movement with thousands of local groups across the country. From different points of view, we have come to the same conclusion: cryptocurrencies are no longer just a risky investment. It is a dangerous political machine fueled by corruption.
The cryptocurrency industry is reshaping American politics from the shadows, spending almost $200 million There is a well-known playbook for buying influence in Washington: Interest groups funnel millions into primaries through super PACs, using outside spending and deceptive attacks to defeat candidates and install their preferred policymakers. Crypto is implementing that playbook now, because billions of dollars depend on regulatory decisions made by the federal government.
Political investments have already borne fruit. Last year, Congress approved the GENIUS Law, an industry-friendly crypto bill that passed the House and Senate. His defenders warned that Trump would use the bill to enrich himself, but Republicans rejected any ethical provisions that would have tied his hands. In the end, near-unanimous Republican support and dozens of Democratic votes gave the cryptocurrency industry and Trump what they wanted.
Trump’s payday was historic. His own financial statement shows that he earned more than 1.4 billion dollars of crypto companies last year. His ties represent a new level of corruption: The president is openly benefiting from an industry that spends heavily to influence elections and secure favorable government treatment.
But Trump is not satisfied. Congress gave him a printing press and now he’s pushing for a bigger one. At his and the industry’s insistence, Congress is considering CLARITY Lawan even more transcendental proposal. The bill would move much of the oversight of cryptocurrencies to a weaker regulatory body, a move that critics warn would water down investor protections, create regulatory loopholes and further open the door to corruption.
While Washington profits, ordinary Americans run the risks. Cryptocurrency boom and bust cycles have left countless consumers exposed to fraud, scams, and market crashes, while insiders become richer. The fight over cryptocurrencies is no longer a niche financial or technological policy debate. It’s about consumer protection, corruption, and whether our democracy allows concentrated wealth to buy both elections and subsequent policies. It’s about whether there’s anything limiting Trump’s insatiable appetite for money and power.
If Democrats really want to confront Trump’s corruption, they must challenge the financial interests behind it. Voters look for fighters, not portfolios, and you can’t fight corruption while collecting your checks. That means rejecting laws like the CLARITY Act while the industry behind it spends hundreds of millions to influence lawmakers in an election year. It means declining crypto campaign contributions and independent spending. A party committed to the fight for democracy cannot depend on an industry that enriches Trump and his allies.
Tackling cryptocurrencies isn’t just good policy: it’s also good politics. Voters want leaders focused on cutting costs, protecting consumers and holding wealthy special interests accountable. The question before Congress is not simply how cryptocurrencies should be regulated. It’s about whether industries should be allowed to spend fortunes shaping elections and then write the rules that govern them. If Democrats want to show voters that they are serious about fighting corruption, the answer must be no.
