Senator Stabenow, who has designed the SBF crypto calculation, will not try to re-election

Senator Stabenow, who has designed the SBF crypto calculation, will not try to re-election

The Senator of Michigan, Debbie Stabenow, announced that she would give up her post in January 2025.

The politician was one of the creators of cryptocurrency laws that the CFTC could give the exclusive responsibility for monitoring the market. Interestingly, the former CEO of FTX-Sam Bankman-Fried-was a loud supporter of the legislation that received the nickname "The SBF Crypto bill".

past the torch

Senator Stabenow-The first woman from Michigan who is elected to the Senate of the United States-will do it data Preserver-Spaces = "True">

"Inspired by a new generation of managers, I decided to pass on the torch in the US Senate. Today I am announcing that I will not stand for re-election and will leave the US senate at the end of my term on January 3, 2025."

Senator Debbie Stabenow, CNBC

She said that her main focus in the next two years would be due to the well-being of the locals and the creation of employment opportunities in the urban and rural communities. The politician promised to continue to serve Michigan outside the Senate and at the same time to spend more time with her family.

She worked with the senators John Boozman, Cory Booker and John Thun in August last year to present the digital commodities consumer protection act. The possible bill aims to give the CFTC more authority in monitoring the cryptocurrency sector and thus protect consumers from fraud. However, critics warned that this could have a negative impact on decentralized financing (Defi).

one of the pronounced supporters of legislation was Sam Bankman-Fried. He supposedly also donated over $ 56,000 to Senator Stabenow and associated funds. The politician from Michigan received contributions from other former FTX managers such as Ryne Miller, Mark Wetjen and Zachary Dexter.

donations of the SBF

The 30-year-old, who has been charged several times due to his company's collapse in November 2022, has donated significant sums to US politicians in recent years.

er gifted Joe biden's presidential campaign in 2020 over 5 million US Data presserver spaces = "true"> specified that he also gave away millions of republicans.

other legislators who received Data Preserver-Spaces = "True"> The former crypto mogul are senators such as Kirsten Gillibbrand from New York, Cory from New York, Maggie Hassan from New Hampshire, Susan Collins from Maine and Lisa Murkowski from Alaska.

Other reports indicate that SBF also bribed the media so that they could represent him as a modest person who directed a completely legal unit. Teslas CEO was one of those who believed this thesis, Proverb in December:

"If SBF would be so good to operate a crypto exchange, as it was when it came to briberating the media, FTX would still be solvent!"

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