Long-Time Bitcoin Critic Sen. Menendez Faces Corruption, Bribery Charges; Democrats Call For His Resignation

Sen. Robert Menendez, D-N.J., a long-time critic of Bitcoin, and his wife Nadine Arslanian have been charged by the U.S. Department of Justice (DOJ) with bribery. The politician allegedly used his position to help criminal defendants and received bribes in various forms, including cash, gold bars, a luxury convertible and mortgage payments, among others.

"Robert Menendez allegedly agreed to use his official position to benefit Wael Hana, Jose Uribe, Fred Daibes and the Government of Egypt in exchange for hundreds of thousands of dollars of bribes to Menendez and his wife Nadine Menendez, which included gold bars, cash, and a luxury convertible," the DOJ said in a press release.

Prosecutors alleged that the senator, among other things, made sure that the U.S. continued to provide military aid to Egypt, despite political repression and human rights concerns.

Menendez is a popular name within the cryptocurrency community and his latest indictment is a stark contrast to his position toward Bitcoin, the world's first-ever crypto asset.

The senator, in a letter to the Financial Crimes Enforcement Network (FinCEN) in 2017, said the "anonymous nature of Bitcoin transactions" allows the crypto asset to be "an ideal choice for criminals."

Menendez was also the co-sponsor of the Accountability for Cryptocurrency in El Salvador (ACES) Act, which aims to investigate how the Central American nation's adoption of Bitcoin as legal tender could foster "risks for cybersecurity, economic stability, and democratic governance."

Hours after the federal prosecutors indicted Menendez on bribery charges, the Democratic party leader called for his resignation.

"The allegations in the indictment against Senator Menendez and four other defendants are deeply disturbing," New Jersey Gov. Phil Murphy said last Friday. "These are serious charges that implicate national security and the integrity of our criminal justice system."

"The alleged facts are so serious that they compromise the ability of Senator Menendez to effectively represent the people of our state. Therefore, I am calling for his immediate resignation," Murphy said in a statement.

"Senator Menendez should resign," Sen. John Fetterman, D-Pa., wrote in a social media post Saturday. "He's entitled to the presumption of innocence, but he cannot continue to wield influence over national policy, especially given the serious and specific nature of the allegations. I hope he chooses an honorable exit and focuses on his trial."

"As the grand jury charged, between 2018 and 2022, Senator Menendez and his wife engaged in a corrupt relationship with Wael Hana, Jose Uribe, and Fred Daibes – three New Jersey businessmen who collectively paid hundreds of thousands of dollars of bribes, including cash, gold, a Mercedes Benz, and other things of value – in exchange for Senator Menendez agreeing to use his power and influence to protect and enrich those businessmen and to benefit the Government of Egypt. My office is firmly committed to rooting out corruption, without fear or favor, and without any regard to partisan politics. We will continue to do so," U.S. Attorney Damian Williams said.

This is the second time the Democrat senator has been charged with corruption. In 2015, he was accused of taking bribes to promote the business of a donor but the case was dismissed in 2018 because of a hung jury.