The U.S. Senate cryptocurrency hearing was interrupted due to a bizarre episode.

Written by: Landon Manning, Beincrypto

Compiled by: Jessica, Techub News

Abstract

Senator John Kennedy suddenly challenged Richard Painter's tweet from months ago during the hearing, causing the discussion on cryptocurrency to go off track.

John Kennedy's remarks calling Richard Painter an "extreme oddball" are puzzling, as the tweet pertains to Democratic Senator Gillibrand, not a Republican.

This incident highlights the vulnerability of bipartisan support for cryptocurrencies; if pro-crypto stances provoke backlash from Democratic voters, it could trigger a chain reaction.

At today's Senate cryptocurrency hearing, Senator John Kennedy disrupted the agenda with bizarre remarks. He accused witness Dr. Richard Painter of being a "top-tier nutjob" for his tweets about political donations in the industry.

This roar is particularly absurd, as the tweet involves a Democratic senator, while Kennedy himself, being a Republican, did not receive massive donations from the industry. Although cryptocurrency enjoys limited bipartisan support, its foundation may not be solid.

The Senate cryptocurrency hearing unexpectedly derailed

Current cryptocurrency regulation is an urgent issue for the U.S. legislature, with important bills advancing in the House of Representatives and the Senate.

The House committees have begun reviewing the existing legislative framework, while the Senate Banking Committee has held hearings to engage in dialogue with leaders of the cryptocurrency industry.

However, today's hearing took a dramatic turn when Republican Senator John Kennedy suddenly pressed former White House ethics lawyer Richard W. Painter over an old social media post. The post was published in May and has no direct relevance to today's testimony.

Specifically, Painter's tweet cites an exclusive report from BelnCrypto, revealing the political donations provided to Senator Gillibrand by the cryptocurrency industry:

"The cryptocurrency industry is buying Congress and the White House" "This won't end well"

"Senator Gillibrand's Role in Stablecoin Regulation - Receiving $217,000 in Crypto Donations"

"Do you think Senator Gillibrand is a fraud? Why is the crypto industry trying to buy her off? Are you going to apologize?" Kennedy questioned. When Painter accused him of wasting the committee's time and suggested focusing on legislative issues, Kennedy retorted by calling him a "top-notch lunatic."

Given the intense opposition between the two parties, this outburst seems particularly strange. Kennedy's remarks interrupted the hearing process, and he has failed to deny the fact that Gillibrand received cryptocurrency donations.

Ironically, Kennedy himself did not receive donations from the cryptocurrency industry in the last election.

So why is Senator Kennedy acting this way? Even if Gillibrand's cryptocurrency donations are related to the hearing, she is still a Democrat. In theory, Kennedy should be pleased to accuse Democrats of political corruption.

This may reflect the current bipartisan situation regarding congressional support for cryptocurrency. Some Democrats attending today's hearing openly oppose the crypto industry and are trying to obstruct the legislative process.

As a pro-crypto Democrat, Senator Gillibrand has played a key role in pushing several bills through.

In other words, the two senators are generally on the same side on this issue.

In addition, the old tweets entangled with Painter shifted the focus away from his anti-cryptocurrency legislation testimony. Kennedy's explosive remarks prevented the attending senators from delving deeper into the criticisms the industry might face.

This bizarre episode may reveal a subtle situation: many cryptocurrency companies are actively seeking support from the Democratic Party, but Trump's ties to the industry are becoming a political burden for them.

Such events may exacerbate the burden. If Democratic voters begin to oppose pro-crypto politicians, it could jeopardize bipartisan cooperation initiatives.