These 16 Democratic Senators Deserve a Primary. Allowing yourself to be bought by the crypto lobby is unforgivable.

[Celerity]

https://prospect.org/politics/2025-05-21-democratic-senators-deserve-primary-crypto-bill/



It’s official. As my colleague David Dayen and I both predicted, enough Democratic senators have voted for a crypto “regulation” bill (called the GENIUS Act), basically written by the industry and Donald Trump’s minions, that it passed easily on Tuesday. If anything, it was even worse than I expected—just nine Democrats were needed to get to the necessary 60 votes, but 16 voted for it. (Two Republicans, Sens. Rand Paul of Kentucky and Jerry Moran of Kansas, voted against it.) This vote was technically for cloture, meaning the bill couldn’t be halted by a filibuster, but it’s the only vote that mattered. The official vote, now scheduled for Thursday, is only a formality, and I expect several of these senators to vote against it so they can pretend they aren’t monumentally corrupt.

The Crypto Sixteen are the following: Kirsten Gillibrand (D-NY), who co-sponsored the bill, Adam Schiff (D-CA), Angela Alsobrooks (D-MD), Mark Warner (D-VA), Ruben Gallego (D-AZ), John Fetterman (D-PA), Cory Booker (D-NJ), Catherine Cortez Masto (D-NV), Ben Ray Luján (D-NM), Elissa Slotkin (D-MI), Maggie Hassan (D-NH), Martin Heinrich (D-NM), Jon Ossoff (D-GA), Alex Padilla (D-CA), Jacky Rosen (D-NV), and Lisa Blunt Rochester (D-DE). Every one of them ought to be primaried in their next election.

Sen. Elizabeth Warren (D-MA), who has more experience in financial regulation than anyone in Congress, outlined the problems in a speech on the Senate floor. First, the bill gives a clear green light to Trump’s world-historical corruption. “Passing this bill means that we can expect more anonymous buyers, big companies, and foreign governments to use the president’s stablecoin as both a shadowy bank account shielded from government oversight and as a way to pay off the president personally. For crooks, it’s a two-for-one,” she said.

Second, it would greatly destabilize the financial system by allowing crypto stablecoins (that is, crypto assets supposedly pegged to the dollar and backed with real assets) into it without real regulations or protections. As Warren points out, we have seen in the past, with the financial derivatives that led to the 2008 crash, that a weak regulatory bill is worse than no bill at all. The powers of the various regulatory authorities are not clarified at all, and in any case, with Trump tearing these agencies to shreds, it wouldn’t matter if they were. Another crypto crash will come, but this time it might take down Wall Street with it.

Third, it would greatly enable criminal activity of all kinds............................

snip

[aocommunalpunch]

1. K&R

Where’s the defense for this train wreck?

[kerry-is-my-prez]

31. I have invested in Crypto - before Trump was President.

He used to be rabidly against it. I’m not investing in ANYTHING, however until Trump and the Reps are out of power.

[pbmus]

2. Depression era economic times

September, October are bottom dropping out of the markets

[Autumn]

3. I hate to say it but they are all unfit to serve. Primary them all.

[leftstreet]

16. +1

[Autumn]

19. I don't know what the hell is going on with Booker. He was the only

Dem to vote for vile Charles Kushner to be U.S. ambassador to France. That was a fucking disgraceful thing for him to do.

[kerry-is-my-prez]

27. We're supposed to vote against Corey Booker?

Crypto is NOT evil unless you’re talking about the Trump meme coin - which is not “real” crypto. The people who buy that are dumb Trumpsters so I have to chuckle to myself when they get screwed and then get angry at Trump. Crypto is a gamble, but then so is a lot of investments.

[Autumn]

32. Then you support him I don't have to vote for him, not in my state.

He also voted for a nasty ex con for ambassador. Jared's Daddy. The only Dem to do so. You either fight against corruption and fascism or you don't. I don't support those who don't fight.

As Warren said about the bill,
"we have seen in the past, with the financial derivatives that led to the 2008 crash, that a weak regulatory bill is worse than no bill at all. "

Chuckle all you want, I'm out of fucks to give about people who are okay with the crimes families corruption and are willing to support it.

[progressoid]

4. A gift to the oligarchy.

[Amaryllis]

5. Have to question if they really understood what they were voting for.

[MayReasonRule]

8. They're Going To Profit From It - They Understood It Perfectly Well...

I have no need to question their understanding in the slightest.

Our Democratic Senators are not morons.

These Democratic Senators are... (how shall I put this in a suitable manner for this forum's guidelines...) unexemplary.

I'll flesh that out in much greater detail over on Bluesky...

[Gum Logger]

40. I would put it

Backward inbreed crackerhead stupid!

[MichMan]

18. You think they were duped or just incompetent?

Not understanding your statement

[Amaryllis]

39. I read that it was one of those bills with deceptive language that made it sound like a good thing, kinda like Laken

Riley. Can't remember any more than that. BUt looks at the dems who voted for it. Some of the best.

[speak easy]

6. Primary Cory Booker, Jon Ossoff, Adam Schiff, and Mark Warner?

A bat shit crazy idea.

[MayReasonRule]

9. So Turn A Blind Eye To This Blatant Alliance With Trumpism?

What else outside of a primary then might you suggest?

[Hekate]

12. You never heard of ASKING and INVESTIGATING?

Naaah. Just dump them without further ado.

[MayReasonRule]

22. Perhaps You've Never Heard Of A Primary Challenger Asking And Investigating

I have.



That's the point.

I consider their votes indefensible.
They made their votes.
Let 'em defend 'em in a primary!



VOTE BLUE!!!

[happy feet]

25. Even if I agree with you

I won’t throw out the baby with the bath water. I don’t expect that my senator vote 100 percent as I wish. I.e. don’t let the perfect be the enemy of the good

[MayReasonRule]

26. Nor Do I... I Do However Call Out Bullshit As Bullshit...

Aligning with Trumpism while profiting from the same is bullshit through and through.

[kerry-is-my-prez]

28. Most crypto has nothing to do with Trump except for the meme coins.

Crypto has been around for many years. Trump used to be against it.

[Hekate]

10. Thank you for saying that for me. It is bat shit crazy to call for the ruination of our best without further inquiry.

[Autumn]

11. Voting for that bill was bat shit crazy.

You think they should get a pat on the back?

[MayReasonRule]

23. Extra Bonus... They All Voted To Confirm Marco Rubio... Every Democratic Senator Voted To Confirm Marco Rubio

Marco Rubio's voting record was directly aligned with The Heritage Foundation and Project 2025.

And yet... they voted to confirm him.

FFS

[Buddyzbuddy]

7. Agreed but it needs to be done strategically.

Otherwise, we screw ourselves.

[Hekate]

14. No doubt about it: we Dems are really good at screwing ourselves.

[Cha]

30. Super Good! Look at

2016 & 2024 Nationally.

But as you know Dems are Winning local elections now 🕯️🕊️💙🌈..
So time for purity. Disregard all the Good they’ve Done For Us Not!

🕯️🕊️💙🇨🇦🌻

[Clouds Passing]

13. Disappointed in the NM Senators

[biocube]

15. I'm absolutely fed up with Kirsten Gillibrand

She definitely needs to be toppled in a primary. And preferably someone from the left wing of the Democratic party. She's in a safe blue seat and not in some purple state.

[SocialDemocrat61]

17. Unfortunately she was re-elected last year

so there’s a long time to wait. Schumer isn’t up until 28. Maybe if he retires, she will too.

[La Coliniere]

20. WTF is wrong with them?

They should’ve heeded the call of Senator Warren. They should’ve respected her knowledge in this area…I thought Democrats were supposed to resist this shit. Resistance? “We don’t need any effing resistance” seems to be their attitude. How authentic is Booker, for instance, when he gets up and does his 24 hour filibuster shtick and then turns around and does shit like this…so deflating to the base…Sucks big time.

[MIButterfly]

21. Elissa Slotkin - why does that not surprise me?

I don’t know how anyone else in Michigan feels, but she has really disappointed me. I know her whole shtick is "working with both Democrats and Republicans," but that doesn't impress me one bit. Today's Republicans are not Republicans, they're Trumplicans and there's no working with that; there's only fighting against it and if she can't do that, she should step aside and let somebody take her place who will.

[JI7]

33. She isn't different from what she ran as and how she has always been

[kerry-is-my-prez]

24. I have bought crypto and made a profit. I would need to know exactly what's wrong with the bill.

I’ve stopped investing in anything, however, since Trump was “elected.” A lot of small investors invest in crypto. It’s risky and may crash eventually but it’s got a while to go before that might happen. I wouldn’t invest a lot in it.

[Peregrine Took]

29. Ossoff, Booker, Schiff??? W??F.

I was truly shocked, I though Schiff would be a great candidate for President someday. What were they thinking and Booker voting for Jared's dad....that whole 25 hour show for nothing.

[Susan Calvin]

36. Basically what I just finished saying a couple of replies down.

What in the hell is wrong with them?

[EdmondDantes_]

42. Crypto is big in Silicon Valley and the financial markets

Explains why the California and New York/New Jersey senators would vote for it. Likewise Biden voted for a lot of bank friendly stuff as Delaware senator because it was what his state wanted. I'm not much of a one issue voter. I will take their overall voting patterns as well as the chances of getting someone better compared to getting a Republican in that seat. Ossoff for example is a hard seat for us to retain and a more pure candidate is less likely to win.

It's not all or nothing. I couldn't get elected dog catcher, I wouldn't expect someone voting exactly as I would is likely to do well either.

[markpkessinger]

34. One more reason for me to vote against Gillibrand . . .

. . . along with what she did to Al Franken (after which I said I would never vote for her again . . . and I haven't).

[MichMan]

38. You voted for Sapraicone ?

[markpkessinger]

41. I didn't cast a vote in the race for the seat she occupies n/t

[Susan Calvin]

35. What in the hell?

There are some names on there I wouldn't have expected, and I am pissed at them. The most charitable explanation is that they're stupid, and I didn't used to think they were stupid.

[Wiz Imp]

37. This is misleading. Not only hasn't the actual bill been voted on yet, this vote was NOT for cloture

to bring the bill to the floor for a final vote. This vote was for the cloture on the "motion to proceed" on the bill. The actual motion to proceed was then passed subsequent to that. The "motion to proceed" allows the bill to come to the floor for debate and allow amendments to be proposed.

The bill will still need to pass another cloture vote to allow for a final vote.

Contrary to what the article says (that the final vote is scheduled for Thursday?), a linked article within that article quotes Majority Leader Thune as saying:

“It’s really hard to understand why we needed to wait an additional 11 days for Democrats to finally agree to move,” Thune said Monday, adding that he expects the Senate won’t vote on final passage before it leaves for the Memorial Day recess.

The bill may likely pass eventually, but it is not yet as far along (and a done deal) as this post implies.

https://thehill.com/policy/technology/5310579-whats-next-for-the-senate-stablecoin-bill/

Stablecoin legislation advanced on the Senate floor Monday in an early win for the crypto industry, but the bill is expected to face a lengthy amendment process that will likely push a final vote beyond Congress’s Memorial Day break.

The Senate voted 66-32 Monday night to move forward with consideration of the GENIUS Act, which would create a regulatory framework for payment stablecoins.

However, the bill’s path forward looks slow-going, as Senate Majority Leader John Thune (R-S.D.) plans to allow for floor amendments, which could drag out the process and leave the legislation vulnerable to losing momentum.

As the amendment process moves forward, it seems unlikely the GENIUS Act will make it across the finish line in the Senate before lawmakers head out of town for a weeklong Memorial Day recess. Thune also said he does not expect to reach an agreement to fast-track consideration of the legislation, according to Axios.

https://finance.yahoo.com/news/crypto-scores-a-victory-as-genius-act-stablecoin-legislation-stays-alive-in-senate-114538080.html

The Senate will now debate the stablecoin bill while also giving senators the option to offer amendments. From there, the Senate would vote on those amendments and would need another 60 votes to gain cloture to proceed to a final vote on the bill.