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Gillibrand Backs Crypto Ethics Rules While Son Raises $30M
1D AGOUSU.S. SENATOR KIRSTEN GILLIBRANDCRYPTO

Gillibrand Backs Crypto Ethics Rules While Son Raises $30M

What's the gist?

Sen. Kirsten Gillibrand is one of the Senate's biggest crypto allies and a key negotiator on the Clarity Act. She's demanding ethics rules to stop Trump from profiting off crypto but critics say her credibility is undercut by her son's $30 million crypto exchange startup.

Context

Gillibrand has long championed crypto legislation, co-authoring the Genius Act on stablecoins, which Trump signed into law. She now chairs the Democratic Senatorial Campaign Committee and is a lead negotiator on the Clarity Act, a sweeping crypto regulatory bill that needs at least seven Democratic Senate votes to pass.

Positive takes

Standing Up to Trump. Gillibrand is demanding that any crypto bill include ethics rules barring the president, Congress members, and their spouses from profiting off crypto — a direct challenge to Trump's $1.4 billion windfall that critics across the aisle acknowledge is a real problem.
Consumer Protection First. Gillibrand argues that millions of Americans are using crypto outside any regulatory safety net. Getting a law on the books — even an imperfect one — could mean real protections for everyday investors who have been left behind by the current system.
Keeping Negotiations Alive. As DSCC chair and a rare Democrat at the table with White House staff, Gillibrand is doing the hard work of brokering a deal that might otherwise collapse entirely, keeping open the possibility of a regulated, more stable crypto market.

Negative takes

Family Ties Raise Red Flags. Her 22-year-old son Theodore just raised $30 million — valued at $300 million — for a crypto derivatives exchange. Ethics watchdogs say it's hard to take Gillibrand's calls for crypto accountability seriously when her own family stands to benefit from a regulated industry.
Industry Money Talks. Crypto companies have poured nearly $200 million into 2026 elections, with Gillibrand's DSCC role making her especially aware of that cash. Critics argue her push for a crypto bill — even one with ethics provisions — serves industry interests more than voters.
Watered-Down Reform Risk. Progressive critics warn that Gillibrand and other centrist Democrats may ultimately accept weak ethics language as a fig leaf to get the Clarity Act passed, delivering the industry its top priority without a real crackdown on the corruption they claim to oppose.