Crypto Critic and Former Senator Bob Menendez Gets 11 Years in Prison for Bribery

Crypto Critic and Former Senator Bob Menendez Gets 11 Years in Prison for Bribery

Bob Menendez, the former U.S. senator from New Jersey and outspoken critic of cryptocurrency, was sentenced to 11 years in prison on Wednesday for bribery and acting as an agent for Egypt, according to the Associated Press.

Menendez, a Democrat, had been convicted on bribery charges in 2024. He was known for his strong opposition to cryptocurrency, once calling Bitcoin an “ideal choice for criminals” and co-sponsoring a bill to pressure El Salvador not to accept Bitcoin as legal tender.

In court, District Judge Sidney H. Stein remarked, “You were successful, powerful, you stood at the apex of our political system. 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.”

El Salvador’s President Nayib Bukele responded to the sentencing on X (formerly Twitter), calling Menendez the “great reference of the opposition” who had accused El Salvador of using Bitcoin for money laundering and corruption. Bukele added, “The thief judges by his condition.”

Menendez’s conviction followed an investigation into his accepting bribes in the form of gold and cash, using his political influence to act on behalf of Egypt.

Bob Menendez, the former U.S. senator from New Jersey and a vocal critic of cryptocurrency, has been sentenced to 11 years in federal prison after being convicted on charges of bribery and acting as an agent for Egypt. The conviction, which stemmed from his involvement in bribery schemes, highlights Menendez’s fall from grace after years of holding a powerful political position. 

Menendez, a Democrat, had long been known for his staunch opposition to Bitcoin and other cryptocurrencies. He famously referred to Bitcoin as an “ideal choice for criminals” and strongly opposed El Salvador’s decision to adopt the cryptocurrency as legal tender. In fact, he co-sponsored a bill in Congress to pressure El Salvador to abandon the move, citing concerns about Bitcoin's potential to be used for money laundering and other illegal activities.

His sentencing marks a dramatic turn in a career that once seemed promising. District Judge Sidney H. Stein, who sentenced Menendez, remarked that the former senator had been at the pinnacle of American politics but had ultimately become entangled in corruption. "You were successful, powerful, you stood at the apex of our political system. 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 said in court.

The bribery charges stemmed from Menendez’s use of his political influence to secure favors for Egypt in exchange for gold, cash, and other bribes. These actions were in violation of federal law and led to his conviction in 2024. His conviction and subsequent sentencing have tarnished his reputation and raised concerns about the integrity of U.S. lawmakers.

In response to Menendez’s sentencing, El Salvador’s President Nayib Bukele took to X (formerly Twitter) to weigh in on the matter. Bukele, who had been targeted by Menendez for his country’s adoption of Bitcoin, criticized the former senator, stating, “This senator was the great reference of the opposition when he accused El Salvador of using Bitcoin for money laundering and corruption.” Bukele further added, “The thief judges by his condition,” suggesting that Menendez’s own legal troubles mirrored the accusations he had leveled against El Salvador.

Menendez’s fall from political power and the lengthy prison sentence that followed serve as a reminder of the risks involved in corruption and the potential for high-profile public figures to lose their credibility when they abuse their positions.