In a direct message, Sherman said “STOP” to Twitter user @TheCryptoDog, who had made several Twitter and Reddit posts about the Congressman’s campaign funding history, which revealed that his main donor had been fined $13.3 million by the US government for facilitating illegal gambling.
.@BradSherman was so concerned about $crypto users using #cryptocurrency for deceptive and illegal financial activity, yet his top campaign donation came from a company that had to forfeit $13.3 million to the US Government for facilitating illegal gambling. pic.twitter.com/mLn0WHU6jR
— The Crypto Dog📈 (@TheCryptoDog) July 18, 2018
Anti-cryptocurrency Track Record
Sherman, a Democratic representative, has in the past few months been highly critical of cryptocurrencies in public congressional discussions. In March, the House Financial Services Subcommittee discussed the impact that crypto was having on the American economy, during which he called cryptocurrencies a “crock.” He said at the hearing:
“They allow a few dozen men in my district to sit in their pajamas on the couch all day until their wives are going to be millionaires. They help terrorists and criminals move money around the world. They help tax evaders. They help startup companies commit fraud, take the money, and 1% of the time they actually create a useful business, but that again I dare say that some tiny percent of all larceny and crime helps finance something that turns out to be useful.”
He continued the strong criticism yesterday, where he called on cryptocurrencies to be prohibited outright during a subcommittee discussion.
Allegations About Conflict of Interest
After the latest comments, crypto investor CryptoDog highlighted the suspicious nature of his main campaign donor’s track record. Allied Wallet donated more than anyone else to Sherman’s reelection campaign and had been found to have facilitated illegal gambling activity by providing processing services to illegal operations. After receiving a flurry of criticism of his own for this apparent gross conflict of interest, Sherman today contacted CryptoDog directly on Twitter with a one-word, uppercase “STOP” request.
Sherman has been in Congress since 1997. Despite being a qualified financial accountant, he made erroneous claims recently about the value of cryptocurrency investment, falsely distinguishing it from traditional investments.