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Our Revolution Sounds the Alarm on Corruption-Ridden Crypto Legislation Ahead of Key Senate Vote
“This is corruption and self-dealing on an unprecedented scale. And let’s be clear: Democrats are fully complicit in the grift, with Senator Kirsten Gillibrand (D-NY) leading the charge as the bill's original sponsor.”
On Thursday, the U.S. Senate is expected to hold a procedural vote to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act—a controversial bill championed by crypto giant Coinbase and other deep-pocketed industry players.
The legislation, which has raised alarm bells among ethics watchdogs and democracy advocates, claims to set the first nationwide rules for regulating payment stablecoins—cryptocurrencies that aim to maintain a stable value by being pegged to real-world currencies like the dollar.
Joseph Geevarghese, Executive Director of Our Revolution—the nation’s largest independent political organizing group founded by Sen. Bernie Sanders in 2016—issued the following statement slamming the bill ahead of tomorrow’s anticipated vote:
“After seizing the mantle of top corporate political spender in the 2024 election, Big Crypto wasted no time using the influence it bought on Capitol Hill to ram through this laughably weak and toothless regulatory bill—a sham crafted by cryptocurrency giants that is certain to line the pockets of the Trump family's crypto empire.
“This is corruption and self-dealing on an unprecedented scale. And let’s be clear: Democrats are fully complicit in the grift, with Senator Kirsten Gillibrand (D-NY) leading the charge as the bill's original sponsor. We call on every senator who still gives a damn about democracy to shut down this outright sellout to the cryptocurrency industry.”
Tomorrow's expected vote follows alarming news that World Liberty Financial—the Trump family’s crypto venture—secured a staggering $2 billion investment from MGX, a firm controlled by the ruling family of the United Arab Emirates.
The proposed legislation is riddled with glaring regulatory gaps, including a complete failure to prevent lawmakers—like President Trump—from profiting off stablecoin ventures that could attract investment (and potential bribes) from corporations and foreign governments. The legislation also fails to ban Big Tech companies and other non-banking institutions from launching their own private currencies.
Our Revolution will reclaim democracy for the working people of our country by harnessing the transformative energy of the "political revolution." Through supporting a new generation of progressive leaders, empowering millions to fight for progressive change and elevating the political consciousness, Our Revolution will transform American politics to make our political and economic systems once again responsive to the needs of working families. Our Revolution has three intertwined goals: to revitalize American democracy, empower progressive leaders and elevate the political consciousness.
LATEST NEWS
'Like an Obedient Servant': Indian Opposition Blasts Modi's Response to US Killing of Sailors
One Indian politician called President Donald Trump "a cowardly, cold-blooded murderer" and vowed he "will be held accountable for the Indian lives lost."
Jun 15, 2026
Indian Prime Minister Narendra Modi is taking heat from his political opponents for his response to the deaths of three ship workers who were killed in the Gulf of Oman last week by US forces as part of President Donald Trump's illegal war with Iran.
Fury in India has only grown over the past few days as the US has refused to apologize for the deaths of the three men, who were killed by missile strikes as they were working aboard commercial oil tankers.
Rahul Gandhi, leader of the opposition National Congress Party, took to social media on Sunday to blast Modi, leader of the ruling Bharatiya Janata Party, for remaining "silent" over the killing of the sailors by the US.
"Just days after the murder of three Indian sailors in American attacks—no remorse, no apology," wrote Gandhi, who accused Modi and his allies of behaving "like an obedient servant" by not confronting the Trump administration over the incident.
Indian politician Arvind Kejriwal, who previously served as the chief minister of Delhi, vowed that Trump "will be held accountable for the Indian lives lost," going so far as to call the US president "a cowardly, cold-blooded murderer."
"It is unfortunate that PM Modi remains silent," Kejriwal added, "but soon, India will have a strong prime minister who will make you pay for your misdeeds."
Member of Parliament Shashi Tharoor took aim at US Secretary of State Marco Rubio for emphasizing, in the wake of the killings, that all ships operating around the Strait of Hormuz "should immediately comply with orders from US forces" or else risk becoming targets.
"Deeply shocking to read this official US statement, which contains absolutely no expression of regret or condolence for the loss of innocent Indian lives," wrote Tharoor. "How can a 'friend' and strategic partner be so deeply insensitive?"
Tharoor added that "practically every merchant ship navigating these crucial waters has Indian crew on board," and asked whether they are "all considered fair fame for US missiles now?"
The US Central Command claimed last week that the ship where the three slain Indian crew members worked "repeatedly refused to comply with directions from American forces," after which US aircraft "fired precision munitions into the ship's engine room."
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Newsom Says DOJ Probe Puts Him and Wife on Trump's Political 'Hit List'
"Donald Trump is simply the most corrupt president in American history. He's turned the levers of government into his own personal power ministry, to reward cronies and to try to jail his opponents."
Jun 15, 2026
Democratic California Gov. Gavin Newsom on Monday said the US Department of Justice was investigating both him and his wife in what he described as an abuse of power being carried out on behalf of President Donald Trump.
In a video posted on social media, Newsom claimed federal agents in recent days "have knocked on the doors of family, friends, and former employees, not because they've found a crime" but "because they're simply trying to find one."
Newsom charged that Trump himself was behind the investigation, which he said was being done in response to his prospective 2028 presidential campaign.
"Donald Trump is simply the most corrupt president in American history," Newsom said. "He's turned the levers of government into his own personal power ministry, to reward cronies and to try to jail his opponents. His personal attorney now runs the Department of Justice, which has repeatedly gone after his political enemies."
Newsom then linked the current DOJ investigation into him to federal investigations of New York Attorney General Letitia James, former Federal Reserve Chairman Jerome Powell, and former FBI Director James Comey as yet another politically motivated assault on the rule of law.
"One by one, anyone who has challenged Donald Trump has ended up on his hit list," Newsom explained. "And today, I proudly join that list. After calling for my arrest last year, Donald Trump directed his Department of Justice to investigate me."
The governor said that investigators in recent days had shown particular interest in his wife, documentary filmmaker Jennifer Siebel Newsom.
"If they can't intimidate me, they'll go after the mother of our children," said Newsom. "Donald Trump picked the wrong target. We have nothing to hide."
A source told The New York Times that the investigations into Newsom "were initiated by federal law enforcement officials in California, based on government witnesses offering information there, and were not launched by officials in Washington."
However, Trump has gotten directly involved in multiple DOJ investigations of his political opponents that have led to criminal charges.
Last year, the president inadvertently posted a message on his Truth Social platform that was intended to be a private message to then-Attorney General Pam Bondi, in which he pushed her to move more quickly on indicting Comey, James, and US Sen. Adam Schiff (D-Calif.).
James and Comey would subsequently be hit with criminal charges, although cases against them were dismissed last year by a federal judge. Comey has since been indicted again for posting a purportedly threatening message on social media that some legal experts have described as an "embarrassing" case.
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In 'Grotesque Billionaire Bonanza,' 41 Energy Tycoons Saw Fortunes Grow by $23.5 Billion Since Trump Launched Iran War
“Conflict devastates countries and costs countless lives, yet for some it is extraordinarily profitable,” said the executive director of Oxfam International.
Jun 15, 2026
While much of the world is holding out hope that the US-Israeli war against Iran may finally be reaching an end amid news of a ceasefire agreement, the billionaire owners of some of the world's largest energy companies may not be so thrilled.
A handful of just 41 energy industry barons in Group of Seven (G7) countries collectively increased their wealth by $23.5 billion since the war was launched in late February, according to a report released by Oxfam International on Monday, as the leaders of the world's largest industrialized economies meet in France this week.
The oil shocks resulting from the war have caused fuel prices to spike dramatically, rippling inflation throughout the global economy and straining the pocketbooks of ordinary people around the world. One April report by the United Nations Development Program projected that, as a result of the conflict, an additional 32 million people would be pushed into poverty by the end of the year.
But between March 1 and May 18, owners of the largest oil and energy companies in Canada, France, Germany, Italy, Japan, the US, and the UK were adding $300 million on average per day to their collective wealth, Oxfam found through an analysis of Forbes’ Real-Time Billionaire List.
PRESS RELEASE: G7 energy billionaires pocket $300 million a day since start of unlawful US and Israel war against Iran.
This is equivalent to about $1,000 in the time it takes to blink.
👀https://t.co/UVGHF4a3Tk pic.twitter.com/szSGASCAX8
— Oxfam International Media Team (@newsfromoxfam) June 15, 2026
“Conflict devastates countries and costs countless lives, yet for some it is extraordinarily profitable,” said Oxfam International's executive director Amitabh Behar. “This is a brutal system that redistributes wealth upwards—from workers to shareholders, from the poorest to the richest, from those with the least power to those who already have far too much of it. While families are skipping meals and governments slash life-saving aid, we are witnessing a grotesque billionaire bonanza.”
While their accumulation of wealth cannot solely be attributed to the war, Oxfam noted that the Big Six oil companies—Chevron, Shell, BP, ConocoPhillips, Exxon, and TotalEnergies—are projected to grow their profits this year by 80% above the pre-war forecast, while the average large G7 company in the sample is projected to see just 8% growth.
Global billionaires saw their wealth increase on average by about 0.42% between March and mid-May. During the same period, G7 billionaires in the energy industry grew their riches by 9%, while those in oil and gas specifically became nearly 11% richer.
Oxfam notes that the Iran War has only widened the chasm between the rich and poor that was already gaping, in no small part thanks to nations in the G7.
While billionaire wealth has surged by nearly $10 trillion since 2020, G7 nations, mostly the US under President Donald Trump, have reduced aid to the poorest nations by $48 billion—equivalent to what billionaires in G7 countries accumulated for themselves in just nine days.
Meanwhile, since 2019, the last time France chaired a G7 summit, Oxfam estimated that 44 people per minute have come to be in need of humanitarian aid, based on 2025 data from the United Nations Office for the Coordination of Humanitarian Affairs.
.@Oxfam campaigners posing as #G7 leaders stand around a trash can overflowing with discarded files. The labels read: “gender inequality,” “climate,” and “tax the rich” —critical global issues scrubbed from the agenda to secure President Trump’s attendance at the G7 summit.@AP pic.twitter.com/aE7HkMvKFl
— Oxfam International Media Team (@newsfromoxfam) June 15, 2026
Behar said that in order to secure the participation of the US in this week’s summit, French President Emmanuel Macron has chosen to table any discussions that might offend Trump—including the devastating cost of his war in Iran, Israel’s US-backed wars in Gaza and Lebanon, and anything to do with the climate crisis, which Trump has referred to as "a scam."
"Rather than defending collective governance, Macron and his peers are accommodating its destruction. This will have consequences measured in lives," he said.
Oxfam called for the "G6"—all the Group of Seven member countries, excluding the US—to create a comprehensive plan to protect people from the economic turmoil caused by the war and other spiraling global crises.
“The G6 can’t plead powerlessness,” Behar added. “They can cancel debt. They can tax windfall profits and extreme wealth... They can provide poorer countries with aid. Refusing to act simply because Washington will not join them is not diplomacy—it is cowardice. And it will only accelerate the G6’s slide into global irrelevance.”
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