Crypto’s Last-Ditch Bid Before Congress Starts Campaign Season Panic
KEY POINTS
- •On February 4, 2025, key Republicans and White House’s David Sacks held a crypto-focused news conference on Capitol Hill.
- •They expressed worry that the midterm elections would freeze progress on a bipartisan crypto market structure bill.
- •Coinbase publicly opposed the Clarity Act, intensifying drama as Congress switches focus to campaigning.
On February 4, 2025, Capitol Hill hosted Rep. Glenn Thompson (R-PA), Senators Tim Scott (R-SC) & John Boozman (R-AK), Rep. French Hill (R-AK), plus the White House’s AI and Crypto czar, David Sacks, in a conference looked like a congressional reboot of an awkward family reunion photo. They were all nervously eyeing the midterm countdown, sweating that Coinbase’s fierce opposition to the Clarity Act might tank the crypto-friendly market bill they desperately want slapped onto the books before Congress disgorges into full campaign chaos. Meanwhile, snowstorms around D.C. gave local politicos the perfect excuse to binge The Shining instead of passing legislation.
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Crypto lobbyists are running the clock like it’s a Black Friday sale and Congress is gearing up for campaign circus mode. Spoiler: bipartisan doesn’t mean friendly.
Crypto trying to pass a friendly bill before midterms is like rushing a tuxedo rental on prom night—too little, too late, probably stains.
Congress during midterms: less about governing, more about perfecting their campaign war faces while crypto begs from sidelines.
Source: Theverge | Published: 1/28/2026 | Author: Tina Nguyen
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