Today, Our Revolution, the nation's largest grassroots progressive organization, condemned the passage of the GENIUS Act by Congress, calling it a dangerous handout to crypto billionaires and a green light for Donald Trump’s growing web of self-dealing and corruption.
The bill, essentially written by the crypto industry itself, will deregulate stablecoins, legalize anonymous crypto donations in U.S. elections, and allow elected officials, including Trump, to personally profit from speculative assets. Its passage comes just days before Trump is set to host a private gala for the top buyers of his $TRUMP meme coin, a cryptocurrency venture already making his family millions.
As one of the most vocal national organizations warning about the risks posed by the GENIUS Act, Our Revolution has mobilized thousands of grassroots members to sign petitions, attend town halls, join national organizing calls with Senators Warren and Merkley, and protest outside Trump’s meme coin gala at his Virginia golf club.
“The passage of the GENIUS Act is a stark escalation of kleptocracy and oligarchy in America,” said Joseph Geevarghese, Executive Director of Our Revolution “This bill wasn’t just influenced by crypto billionaires, it was written for them, and passed with bipartisan complicity. While politicians normalize self-dealing and financial elites consolidate power, we hear almost nothing from the media about how this corrupt system is steamrolling democracy and deepening inequality. It’s working-class people who pay the price, while anonymous speculators and political insiders get richer and more unaccountable by the day.”
As Our Revolution previously warned, the GENIUS Act amounts to a billionaire-backed power grab—crafted to benefit Trump’s inner circle and the crypto elite. Crypto speculators spent more than $200 million on the 2024 election, making the industry the largest lobbying force in U.S. politics today. Now, they’re cashing in.
Our Revolution mobilized its national network against the bill, with over 10,000 grassroots members signing a petition demanding Democrats vote no. Despite this outcry, 16 Democrats joined Republicans in the House to advance the legislation—just as Trump prepares to reward anonymous investors with access to political power.
The organization warns that this legislation sets a dangerous precedent: one where political influence is auctioned off to unregulated and untraceable financial actors, and lawmakers on both sides of the aisle normalize profiteering from public office.
This content originally appeared on Common Dreams and was authored by Newswire Editor.
Newswire Editor | Radio Free (2025-07-18T20:34:34+00:00) Our Revolution Slams Congressional Passage of GENIUS Act as a Gift to Trump’s Corruption and the Crypto Lobby. Retrieved from https://www.radiofree.org/2025/07/18/our-revolution-slams-congressional-passage-of-genius-act-as-a-gift-to-trumps-corruption-and-the-crypto-lobby/
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