Gillibrand's Crypto Ties Spark Backlash in Bipartisan Ethics Talks

The Clarity Act has entered the bipartisan negotiations phase for ethics rules after President Trump agreed to include ethics provisions. However, Democratic Senator Kirsten Gillibrand is facing backlash from progressive groups over her efforts to reach a compromise.

Gillibrand's son, Theodore, runs American Perpetuals Exchange Corp (APAC), which has raised millions from investors like Ripple co-founder Chris Larsen. APAC plans to offer crypto perpetual futures contracts and is seeking regulatory approval from the Commodity Futures Trading Commission (CFTC).

The progressive groups have criticized Gillibrand, saying her conduct undermines efforts to hold the Trump administration accountable for corruption. They argue that the same conflicts of interest they accuse President Trump of exploiting are present in Gillibrand's crypto ties.