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Crypto Critic and Former Senator Bob Menendez Gets 11 Years in Prison for Bribery
Menendez is a former senator from New Jersey and a Democrat.
What to know:
- Menendez was convicted on charges of bribery last year.
- He had co-sponsored a bill pressuring El-Salvador to not accept bitcoin as legal tender.
Staunch crypto skeptic and disgraced former U.S. Senator Bob Menendez was sentenced to 11 years in prison on Wednesday on charges of bribery and acting as an agent for Egypt, the Associated Press reported.
Menendez was a Democrat from New Jersey and famous for taking shots at crypto. He once called bitcoin (BTC) an "ideal choice for criminals" and also opposed El Salvador's acceptance of BTC.
STORY CONTINUES BELOW
“You were successful, powerful, you stood at the apex of our political system,” District Judge Sidney H. Stein told Menendez, according to AP.
”Somewhere along the way, and I don’t know when it was, you lost your way and working for the public good became working for your good.” Stein added.
El Salvador President Nayib Bukele took to X and commented on Menendez's sentencing.
"This senator was the great reference of the opposition (front pages, reports, etc.) when he accused El Salvador of using Bitcoin for money laundering and corruption," Bukele said.
“The thief judges by his condition,” he added.
Menendez took bribes in the form of gold and cash and used his political connections to act as an agent for Egypt, according to the report.
The former senator was convicted on bribery charges last year, as CoinDesk reported.
UPDATE (Jan. 30, 13:16 UTC): Adds Bukele's comment on the sentencing.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
