U.S. Senator Bob Menendez, a Democrat from New Jersey and a vocal critic of cryptocurrencies, was recently found guilty of accepting bribes in exchange for political favors. The jury’s decision, which included allegations of receiving gold bars and a luxury car, has sparked discussions within the crypto community.
Menzendez’s past comments about Bitcoin being an ideal choice for criminals now seem ironic in light of his conviction as a criminal himself. The senator, known for his strong stance against crypto, faced criticism for his involvement in a bill called the ‘Accountability for Cryptocurrency in El Salvador (ACES) Act,’ which aimed to address potential risks associated with El Salvador’s adoption of Bitcoin as legal tender.
Stacy Herbert, a member of The National Bitcoin Office in El Salvador, highlighted the contrast between Menendez’s actions and the transparency efforts of President Nayib Bukele’s administration. While Menendez faced legal troubles, President Bukele was praised for promoting transparency by sharing El Salvador’s public Bitcoin address for auditing purposes.
Following the verdict, Menendez maintained his innocence, stating, ‘I have never been anything but a patriot of my country.’ However, U.S. Attorney Damian Williams emphasized the severity of the case, calling Menendez’s actions ‘politics for profit’ and condemning his exploitation of political power for personal gain.
Despite calls for his resignation from fellow politicians, including Democratic Senate Majority Leader Chuck Schumer, Menendez has chosen to remain in office. His sentencing is scheduled for October 29, with potential consequences that could lead to a lengthy prison term.