U.S. Senator Who Called Bitcoin ‘Ideal Choice for Criminals’ Convicted of Bribery
YEREVAN (CoinChapter.com) — On July 16, U.S. Senator Bob Menendez (D-NJ) exited Manhattan federal court after a jury found him guilty of accepting bribes. Menendez was convicted of accepting gold bars, a luxury car, and other valuables in exchange for political favors.
Senator Menendez Convicted of Bribery. Source: Jimie
His sentencing is set for October 29, and he faces decades in prison. Menendez, a prominent figure in U.S. politics since 1993 and a senator since 2006, now confronts serious legal consequences.
Crypto Community Highlights Menendez’s Hypocrisy on Bitcoin
The crypto community quickly noted the irony of Menendez’s conviction. Menendez had previously called Bitcoin “an ideal choice for criminals.”
Bitcoin Critic Convicted. Source: Coach K Crypto
Stacy Herbert, a member of The National Bitcoin Office (ONBTC) of El Salvador, commented on this irony. She tweeted that while Menendez was hiding gold bars, President Nayib Bukele of El Salvador was promoting transparency by posting the country’s public Bitcoin address.
Menendez vs. Bukele: Transparency Clash. Source: Stacy Herbert U.S. Senator Menendez’s Crypto Legislation Under Scrutiny After Conviction
Senator Menendez co-sponsored the “Accountability for Cryptocurrency in El Salvador (ACES) Act.” This bill aimed to require the State Department to report on risks to the U.S. financial system from El Salvador‘s adoption of Bitcoin as legal tender. This legislative effort now faces scrutiny in light of Menendez’s conviction.
Herbert added that Menendez, as chairman of The Senate Foreign Relations Committee, owes an apology to President Bukele and El Salvador. She emphasized that Menendez’s actions were those of a “malign actor.”
Menendez Maintains Innocence Amid Calls for Resignation
After the verdict, U.S. Senator Menendez maintained his innocence.
“I have never been anything but a patriot of my country and for my country. I have never, ever been a foreign agent,”
he stated outside the courthouse. Despite the conviction, Menendez has refused to resign, even amid calls from senior Democratic colleagues, including Senate Majority Leader Chuck Schumer.
Menendez Convicted of Corruption. Source: The Hil
U.S. Attorney Damian Williams stated,
“This wasn’t politics as usual; this was politics for profit.”
Williams emphasized that U.S. Senator Menendez’s conviction ends his years of selling his office to the highest bidder.
U.S. Senator Menendez’s political career, which began in 1993, now faces an uncertain future. His refusal to step down has created a stir in the political landscape as the sentencing date approaches.
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