Does Steve Cohen Support Crypto?

In late November 2025, Congressman Steve Cohen responded to a post about the potential pardon of a convicted drug trafficker with the comment, "Maybe he buys crypto." This statement is a textbook example of framing crypto as a tool for criminals, earning it a "Very Against Crypto" score. By sarcastically linking a potential pardon for a major drug trafficker to crypto ownership, the Congressman perpetuates a harmful narrative that the primary use case for digital assets is illicit activity. This tactic ignores the vast majority of legitimate uses and the fact that blockchains are often more transparent than the traditional cash-based systems used for such crimes. This comment is consistent with Congressman Cohen's broader anti-crypto stance. His voting record shows consistent opposition to establishing clear rules for the industry. He voted against FIT21, a comprehensive market structure bill; the GENIUS Act, which would have created a framework for payment stablecoins; and the resolution to repeal the SEC's problematic SAB 121 custody rule. Instead of engaging with proposals for a clear regulatory framework that would help prevent bad actors, Congressman Cohen has repeatedly opted to vote against them and use his platform to associate crypto with scams and criminal behavior. His actions demonstrate a clear and consistent opposition to the digital asset industry.

Congressman Steve Cohen retweeted a post characterizing a proposal for the US government to buy $100 Billion in Bitcoin as a "heist" and "just plain stupid". This retweet, along with his voting record against pro-crypto bills like the GENIUS Act and the CLARITY Act, paints a concerning picture of his stance on digital assets. While some might argue that a large government purchase of Bitcoin could have unforeseen economic consequences, framing it as a "heist" suggests a fundamental misunderstanding of Bitcoin's potential role in a modern financial system. Furthermore, dismissing the idea as "stupid" without engaging in a substantive discussion of its merits discourages open dialogue and thoughtful consideration of innovative financial solutions. This retweet reinforces the impression that Congressman Cohen is not a friend to the crypto community. His actions and words suggest a deep skepticism, if not outright opposition, to the growth and adoption of cryptocurrencies.