Share this article
Lummis to Lead Crypto-Vital U.S. Senate Panel With Digital Assets Industry Defenders
Led by Senator Cynthia Lummis, arguably crypto's most loyal friend in Congress, the Senate Banking Committee's new digital assets panel includes other fans.
Jan 23, 2025, 4:37 p.m.
The U.S. Senate Banking Committee has officially set its roster for the new digital assets committee, putting Senator Cynthia Lummis at the top, as expected. But it also includes two names that received heavy backing from the crypto political action committee Fairshake in the 2024 elections.
STORY CONTINUES BELOW
New Senator Bernie Moreno, the Ohio blockchain entrepreneur who knocked off former Democratic Chairman Sherrod Brown, is among the panel's five Republicans. The crypto super PAC devoted a towering $40 million to back Moreno in that contest.
And among the four Democrats, the ranking senator is Arizona Democrat Ruben Gallego, who received about $10 million in ad support from Fairshake.
The subcommittee is likely to represent the tip of the spear for crypto legislation in this session of Congress. The House of Representatives had been far ahead of the Senate last year in approving digital assets measures, but the Senate Banking Committee led by Brown had resisted taking up the bills.
With the new subcommittee in place, led by Wyoming Republican Lummis, the industry is likely to soon take up bills. Lummis has authored a few herself in previous sessions.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Canadian Province Wins Forfeiture of $1M QuadrigaCX Co-Founder's Cash, Gold via Default Judgment
The ruling transfers cash, gold bars, watches, and jewelry seized from a CIBC safety deposit box and bank account into government hands after Patryn did not defend the case.
What to know:
- The Supreme Court of British Columbia has forfeited $1 million in cash and gold tied to QuadrigaCX's co-founder, Michael Patryn, to the government.
- Patryn did not contest the forfeiture, which involved 45 gold bars, luxury watches, and over $250,000 in cash seized under an Unexplained Wealth Order.
- The forfeiture may lead to a process determining if any assets can be directed to QuadrigaCX's creditors, who received 13 cents on the dollar in the bankruptcy settlement.
Top Stories
