United States-based cryptocurrency exchange Coinbase’s latest push advocating for crypto holders to “speak directly to lawmakers” featured a House of Representatives member who previously acknowledged 11 ethics violations.
As of Aug. 15, more than 54,000 individuals had signed on to Coinbase’s “Stand with Crypto Alliance” in an effort to engage with U.S. lawmakers at the federal level. The initiative allows users to view the “crypto sentiment” of members of the U.S. Senate and House of Representatives.
At the time of publication, the initiative’s landing page featured Sen. Elizabeth Warren and Rep. Brad Sherman as “strongly against” crypto policies, and Reps. Josh Gottheimer, Ritchie Torres and David Schweikert as “very supportive.” Warren has often suggested that crypto is linked to illicit activities, such as facilitating the fentanyl trade in China, while Torres called on the U.S. Securities and Exchange Commission (SEC) to limit its enforcement cases concerning crypto firms.
According to the Stand with Crypto information page, Schweikert has backed three pro-crypto bills during his time in office and made four statements referencing digital assets. The alliance included the disclaimer that “Members of Congress may have views you strongly agree or disagree with” but did not explicitly mention any non-crypto policy stances.
Earlier this week, bipartisan Blockchain Caucus co-chairs @RepTomEmmer @RepBillFoster@RepDarrenSoto and I, sent a letter to the House of Representatives concerning the Bipartisan Senate Infrastructure Bill being funded by our crypto currency industry. pic.twitter.com/duEHPzD5gu
In 2020, the House Ethics Committee fined Schweikert $50,000 for violations of campaign finance that broke House ethics rules. In 2022, the Federal Election Commission fined the Arizona representative $125,000 for related allegations. The violations centered around a failure to report loans and using campaign funds for personal matters. Cointelegraph reached out to Schweikert’s office for comment but did not receive a response at the time of publication.
Among the donations the Stand with Crypto Alliance had received at the time of publication included more than $215 from a crypto user with the X (formerly Twitter) handle “Jerry Mander” — a play on words of gerrymander, the process of manipulating district boundaries to favor a certain political party. There was also a $191.98 donation from an unverified account that may belong to Roger Bartlett, Coinbase’s head of institutional operations solutions and Coinbase Treasury.
The political initiative was the latest in Coinbase’s policy of calling for crypto users to “elect pro-crypto candidates” in the United States. The exchange is currently facing a lawsuit from the SEC over allegedly unregistered securities offerings, with many lawmakers and industry advocates calling for the regulator to dismiss the case.
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Canterbury MP Rosie Duffield has resigned from the Labour Party.
The 53-year-old MP is the first to jump ship since the general election and in her resignation letter criticised the prime minister for accepting thousands of pounds worth of gifts.
She told Sir Keir Starmer the reason for leaving now is “the programme of policies you seem determined to stick to”, despite their unpopularity with the electorate and MPs.
In her letter she accused the prime minister and his top team of “sleaze, nepotism and apparent avarice” which are “off the scale”.
“I’m so ashamed of what you and your inner circle have done to tarnish and humiliate our once proud party,” she said.
Since December 2019, the prime minister received £107,145 in gifts, benefits, and hospitality – a specific category in parliament’s register of MPs’ interests.
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Ms Duffield, who has previously clashed with the prime minister on gender issues, attacked the government for pursuing “cruel and unnecessary” policies as she resigned the Labour whip.
She criticised the decision to keep the two-child benefit cap and means-test the winter fuel payment, and accused the prime minister of “hypocrisy” over his acceptance of free gifts from donors.
“Since the change of government in July, the revelations of hypocrisy have been staggering and increasingly outrageous,” she said.
“I cannot put into words how angry I and my colleagues are at your total lack of understanding about how you have made us all appear.”
Ms Duffield also mentioned the recent “treatment of Diane Abbott”, who said she thought she had been barred from standing by Labour ahead of the general election, before Sir Keir said she would be allowed to defend her Hackney North and Stoke Newington seat for the party.
Her relationship with the Labour leadership has long been strained and her decision to quit the party comes after seven other Labour MPs were suspended for rebelling by voting for a motion calling for the two-child benefit cap to be abolished.
“Someone with far-above-average wealth choosing to keep the Conservatives’ two-child limit to benefit payments which entrenches children in poverty, while inexplicably accepting expensive personal gifts of designer suits and glasses costing more than most of those people can grasp – this is entirely undeserving of holding the title of Labour prime minister,” she said.
Ms Duffield said she will continue to represent her constituents as an independent MP, “guided by my core Labour values”.