Saikat Chakrabarti
@saikatc
RT @ryangrim: Let’s be very clear: the narco dictator Trump is pardoning was beloved by the crypto world for creating lawless, sovereign zo…
Very anti-crypto
Saikat Chakrabarti
Democratic Political Figure from California, 11
Strongly against crypto
Based on 12 statements and 0 votes.
Vote History
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Statements
Saikat Chakrabarti
@saikatc
Democrats including Nancy Pelosi just voted with Republicans to pass the GENIUS Act, which specifically does not prohibit Trump from profiting off of stablecoins, a type of cryptocurrency. This is especially egregious when Trump is already using his position as President to pic.x.com/6coI9JShjbpublicans needed Dem votes to pass this, and Dems willingly gave them because it was a crypto industry priority.
Somewhat anti-crypto
Saikat Chakrabarti
@saikatc
This is a bill Democrats had the power to stop.
But 18 Senate Democrats and over 100 House Democrats, including my opponent Nancy Pelosi, joined Republicans to vote for it because this was a crypto industry priority.
Nancy Pelosi just enabled Trump’s corruption. x.com/MazeLove14/sta…
Very anti-crypto
Saikat Chakrabarti
@saikatc
It sounds a lot like they are setting up the conditions for a mass transfer of wealth to crypto in the case of a financial meltdown. And then making a financial meltdown more likely through a bonkers tariff strategy and a terrible budget. x.com/davidsirota/st…
Very anti-crypto
Saikat Chakrabarti
@saikatc
Watching people like @chamath cheer this on makes me think there's a third possible reason Trump is doing this: crash the US dollar in order to boost crypto.
Neutral on crypto
Saikat Chakrabarti
@saikatc
Crypo backers want us to treat crypto like a financial asset when it comes to listing them on ETFs or creating a crypto reserve, but when it comes to taxing them like a financial asset, suddenly they deserve an exception?
Sorry, you can't have it both ways. x.com/JonathanCohn/s…
Very anti-crypto
Saikat Chakrabarti
@saikatc
@Trevor_McHaney Yes, we should do those too. China is also eating our lunch on nuclear. But none of these industries is getting helped by an industrial policy of investing in crypto. China explicitly banned crypto because it diverts valuable resources away from actually productive industries.
Very anti-crypto
Saikat Chakrabarti
@saikatc
While China eats our lunch by investing to build all the cars, batteries, trains, and bridges across the world, we are focusing on buying up chips at the casino.
Of all the industries to focus on, crypto is the only one for which there is zero good reason. x.com/RepRitchie/sta…
Very anti-crypto
Saikat Chakrabarti
@saikatc
Trump and Elon imagine America should be a developing nation again focused on exporting one commodity: crypto.
Somewhat anti-crypto
Saikat Chakrabarti
@saikatc
According to the Republicans, America doesn’t have enough money to fund Medicaid or Social Security, but it does have enough money to buy up crypto in order to enrich Trump and a few of his billionaire friends.
Somewhat anti-crypto
Saikat Chakrabarti
@saikatc
RT @ezraklein: Crypto opening up whole new vistas in political corruption.
Very anti-crypto
Saikat Chakrabarti
@saikatc
Conservative government officials also went after tech. Tech CEOs were being attacked by GOP Congressmen for 'censorship' and JD Vance is a big critic of Big Tech.
So what's the simple explanation for the most crypto invested parts of tech going rightward? x.com/asymmetricinfo…
Neutral on crypto