Independent U.S. Senator Bernie Sanders again targeted the crypto industry during a campaign event, stating that he would oppose the AI industry, pro-Israel lobbying groups, and billionaire-backed super PACs in support of Minnesota Lieutenant Governor Peggy Flanagan’s campaign for U.S. Senate.
Name the cryptocurrency industry again
Sanders later posted on the social platform X, reiterating the above statement. According to the report, this is not the first time he has publicly criticized the digital assets industry.
During discussions in the U.S. Congress on cryptocurrency legislation, Sanders stated that policies on digital assets could benefit wealthy industry participants while leaving risks to ordinary investors. The report also noted that he criticized the GENIUS Act, which focuses on stablecoins, in 2025.
In line with Warren's statement
Sanders' recent remarks also echo the recent statements by Democratic Senator Elizabeth Warren, who has similarly criticized cryptocurrency funding's involvement in U.S. politics and identified cryptocurrency and AI as significant sources of external political spending.
Warren has long opposed what she calls industry-driven cryptocurrency legislation and has repeatedly questioned the crypto industry’s lobbying power in Washington. Their shared stance reflects ongoing caution among progressive Democrats regarding political funding in crypto.
Increased investment in the PAC crypto election
As these criticisms emerge, crypto-supportive political organizations have become significant sources of funding in U.S. elections. The report highlights Fairshake as one of the most prominent crypto political networks, with affiliated organizations including Protect Progress and Defend American Jobs.
During the 2024 election cycle, these organizations made significant investments in congressional elections. Their financial backers include Coinbase, Ripple Labs, and the venture capital firm Andreessen Horowitz.
Supporters argue that such PACs help elect candidates who better understand the crypto industry and are willing to establish clearer regulatory frameworks. As a result, the debate over whether crypto funding is reshaping the U.S. political agenda continues to intensify.