"Ex-Senator Menendez Sentenced to 11 Years for Crypto Criticism and Bribery"

Coin WorldThursday, Jan 30, 2025 10:13 am ET
1min read

Former U.S. Senator Bob Menendez, known for his critical stance on cryptocurrencies, has been sentenced to 11 years in prison for bribery and acting as an unregistered agent for Egypt. The sentencing, handed down by Judge Sidney H. Stein, comes after Menendez's conviction last year on bribery charges.

Menendez, a Democrat from New Jersey, was criticized for his comments on cryptocurrencies, including his assertion that bitcoin was an "ideal choice for criminals" and his opposition to El Salvador's decision to adopt BTC as legal tender. Stein, in his sentencing remarks, noted that Menendez had once been a successful and powerful figure in the political system, but had "lost his way" and begun working for his own interests rather than those of the public.

Prosecutors had argued for a 15-year sentence, while Menendez's defense team sought a sentence of 10 years or less. Menendez was found guilty of accepting bribes in the form of gold and cash, and using his political influence to act as an agent for Egypt. The former senator had served in the U.S. Senate from 2006 until his resignation in 2021.

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