Hunter Biden WARNS Democrats Not To Abandon Crypto Again

The host said 51 senators now had pro-crypto ratings, down from 52, but reported that crypto had lost no senators under 50 and had gained five incoming pro-crypto senators: James Talarico, El-Sayed, Letlow, Pappas, and Turrick. He suggested that younger members could press older colleagues to move faster on innovation and raised the possibility that Sherrod Brown could shift his position. The political picture, he argued, was not necessarily as bleak as some portrayals suggest, but Democrats still need a position on crypto that can reassure markets.

Hunter Biden warned that Democrats could hamstring themselves over the next two years by treating crypto as synonymous with Trump. He urged the party to listen openly to constituents involved in crypto rather than dismissing the technology as fake. Biden described it as a way to democratize access to financial instruments, broaden economic participation, and help small businesses make cross-border transactions. For him, rejecting crypto for partisan reasons risks alienating people who see practical uses in it.

The debate over intermediaries illustrates the divide over what crypto is meant to do. Senator Lummis said Democrats had voted against placing a regulated professional between Main Street and the market; the host countered that removing intermediaries is central to crypto’s appeal. Senator Gallego reportedly advised crypto groups to speak with Brown first. The host also voiced concern about Elizabeth Warren’s expected leadership of the Senate Banking Committee, particularly her positions on anti-money-laundering rules and privacy, which he sees as potential challenges for the industry.

Biden said the next Congress should begin by educating representatives about crypto. He characterized the CLARITY Act’s failure as mainly a dispute over whether Trump would accept an ethics provision requiring him to divest personal interests, rather than a breakdown over most of the bill’s substance. That account makes the legislative obstacle more specific than a broad rejection of crypto, though it does not guarantee agreement on future bills. Biden also cautioned that lobbyists could draw the wrong lessons from elections and may not speak for the wider crypto community.

The host cited estimates of 9.5 million crypto holders in California, 5.9 million in Texas, and 4.7 million in Florida as evidence of a substantial constituency. He said tokenized securities and connections between crypto and traditional finance could broaden that constituency further. Biden nevertheless warned that advocates should not assume political support will translate automatically into policy progress: lobbyists, campaign finance, and pressure over committee assignments can shape lawmakers’ choices. He noted that House members may spend two to three hours a day fundraising by phone, and said those demands can produce poor outcomes for Americans.

Biden expressed hope that progress is possible if crypto advocates approach the next Congress with open minds, a willingness to compromise, and a focus on solutions. He also said major legislation should not be expected easily, arguing that the administration is dug in and has alienated members of its own caucus. Beyond crypto, he described data centers as important to U.S. competitiveness and leadership in AI, while insisting that electricity bills and local water use require honest discussion. Communities, he said, should weigh those costs against the consequences of not building data centers; affordability and accountability need not be competing priorities. He also alleged that self-dealing and corruption have shaped policies affecting affordability, citing oil-and-gas contract trading during the war and profits from tariff refunds involving Howard Lutnick and his sons.