24/7 Cryptocurrency News

El Salvador Bitcoin Critic Sen Menendez Indicted for Corruption

A major Bitcoin critic, Sen Bob Menendez has been charged for bribery and corruption in historic ruling in New York
Published by
El Salvador Bitcoin Critic Sen Menendez Indicted for Corruption

United States Sen Bob Menendez, a Democrat from New Jersey and one of the top-known critics of Bitcoin (BTC) has just been indicted by a Grand Jury on Federal bribery charges.

Advertisement

The Sen Menendez Travails

Sen Menendez occupies a pivotal position within the United States Senate and is the Chairman of the Foreign Relations Committee where he has been found to maintain questionable relationships with businessmen from his New Jersey state. 

According to the current indictment against Sen Menendez and his wife, he maintains a “corrupt relationship” with three businessmen where he uses his office to protect them and benefit from the North African nation of Egypt.

According to mainstream media reports, the indictment noted that the bribes involved solid gold bars, cash and mortgage payments.

“Those bribes included cash, gold, payments toward a home mortgage, compensation for a low-or-no-show job, a luxury vehicle, and other things of value,” according to the indictment issued by a grand jury in Manhattan federal court.

While Senator Menendez is tagged a repeat corrupt offender, his story becomes even more interesting when his criticism of the digital currency ecosystem is factored in place. Senator Menendez was a clear opponent of the move by the Central American nation of El Salvador to legitimize Bitcoin as a legal tender back in September 2021.

According to Sen Menendez, “Bitcoin can open the doors of corruption in El Salvador,” a statement that now largely appears to be morally backfiring on him.

Advertisement

Crypto and Fraud, Not so Easy Mix

While the allegations of corruption by Sen Menendez might be too stringent to describe El Salvador’s embrace of Bitcoin, bad elements notably abound in the nascent ecosystem that might cast a bad light on the revolutionary technologies being heralded by the ecosystem.

However, proponents of the technology have often posited that fraud and crypto do not necessarily mix since all transactions carried out on the blockchain are easily traceable to identify any known culprit.

To attest to these claims, the United States Securities and Exchange Commission (SEC) as well as the Department of Justice have brought on numerous enforcement actions in the past few years, underscoring the transparency that is inherent in the industry.

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Polymarket Founder Shayne Coplan Teases Potential POLY Token After $2B ICE Deal

Polymarket founder Shayne Coplan has sparked speculation about a potential native token launch following a…

October 9, 2025
  • Bitcoin News

FOMC Minutes Signal Fed Open to More Rate Cuts This Year, Bitcoin Bounces

The FOMC minutes have signaled a dovish shift from the Fed officials, who look likely…

October 9, 2025
  • 24/7 Cryptocurrency News

North Dakota To Issue ‘Roughrider’ Stablecoin Following Wyoming’s Footsteps

North Dakota is set to become the second U.S. state to issue a stablecoin, named…

October 8, 2025
  • 24/7 Cryptocurrency News

Ethena Labs and Jupiter Partner to Launch JupUSD Stablecoin on Solana

Ethena Labs reported that it has partnered with Jupiter Exchange to develop JupUSD. This is…

October 8, 2025
  • 24/7 Cryptocurrency News

BlackRock’s Bitcoin ETF Leads ETFs With $3.5B Weekly Inflows as It Eyes $100B in AUM

BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has become the most bought exchange-traded fund…

October 8, 2025
  • 24/7 Cryptocurrency News

MetaMask Launches Hyperliquid Perpetuals In-App, Plans To Integrate Polymarket

MetaMask has officially introduced perpetuals trading on its platform, powered by Hyperliquid. Meanwhile, the crypto…

October 8, 2025