'Take on Crypto': Socialist Sanders Rallies Against Tech Billionaires

Independent Sen. Bernie Sanders has renewed his attack on the cryptocurrency industry, railing against the influence of the crypto lobby in Washington.

Alex Dovbnya · 21 Jul 2026 · 4 min read

Wire content from U.Today

‘Take on Crypto’: Socialist Sanders Rallies Against Tech Billionaires

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By
Alex Dovbnya

Tue, 21/07/2026 – 6:28

Independent Sen. Bernie Sanders has renewed his attack on the cryptocurrency industry, railing against the influence of the crypto lobby in Washington.

'Take on Crypto': Socialist Sanders Rallies Against Tech Billionaires

Cover image via depositphotos.com

Sandersâs long-running criticism of crypto
Crypto PACs emerge as a major political force

Independent Sen. Bernie Sanders has renewed his criticism of the cryptocurrency industry.

During his appearance at a campaign event in Minneapolis supporting Minnesota Lt. Gov. Peggy Flanagan’s Senate bid, Sanders said they would challenge powerful industries.

“Together, we are going to take on crypto, the AI industry, AIPAC and other billionaire super PACs and send Peggy to the United States Senate,” Sanders wrote on X.

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Sanders’s long-running criticism of crypto

Sanders, the most prominent Democratic socialist in the US, has generally taken a negative view of cryptocurrencies.

During debates over crypto legislation in Congress, Sanders has warned that digital assets would benefit wealthy insiders while creating risks for ordinary investors.

In 2025, he criticized the Republican-backed stablecoin-focused GENIUS Act, which passed last year.

Sanders’ comments echo recent statements from fellow progressive Democrat Elizabeth Warren, the leader of the so-called “anti-crypto army” in Congress. In her recent social media post, she also criticized the role of cryptocurrency money in politics.

Crypto PACs emerge as a major political force

Sanders and Warren’s criticism comes as cryptocurrency-backed political organizations have become some of the largest financial players in U.S. elections.

The most prominent crypto political network is Fairshake, a super PAC that operates alongside affiliated PACs Protect Progress and Defend American Jobs.

During the 2024 election cycle, these groups spent heavily on congressional races.

The groups have received significant backing from major industry players, including Coinbase, Ripple Labs and venture capital firm Andreessen Horowitz.

Supporters argue that crypto PACs are helping elect lawmakers who understand crypto and want clearer regulations.