Anti-Crypto Senator Bob Menendez Reportedly Pushes Back On Resignation Claims After Conviction

Bitcoin skeptic Senator Bob Menendez (D-NJ) says he has not stepped down following his bribery scheme convocation earlier this week after Senate Democrats of the longstanding U.S. lawmaker, including Senate Majority Leader Chuck Schumer, called for his resignation.

Conflicting Reports Emerge Over NJ Senator After Corruption Trial

According to a Wednesday evening report from NBC News, individuals close to the matter allege that the anti-bitcoin U.S. lawmaker has been making calls to allies to inform them of his decision to step down.

However, Menendez himself simultaneously denied allegations of his resignation in a Wednesday evening article by CBS News.

“I can tell you that I have not resigned nor have I spoken to any allies,” the former Union City, New Jersey mayor. “Seems to me that there is an effort to try and force me into some kind of statement. Anyone who knows me knows that is the worst way to achieve a goal with me.”

Chuck Schumer, Senate Democrats Pushing Bob Menendez To Resign

News of the reports comes just days after the Senate Foreign Relations Council head was found guilty on all counts in his federal corruption trial after U.S. prosecutors accused him of accepting gifts and working as a foreign agent.

New Jersey Sen. Bob Menendez sat stoically as a jury found him and two business associates guilty on all counts in a federal corruption scheme.

Menendez says he will appeal his conviction, as many of his colleagues say he should resign or be expelled. https://t.co/l26pB1ikwX pic.twitter.com/ZNwj9f6uI0

— CBS Mornings (@CBSMornings) July 17, 2024

“I am deeply, deeply disappointed by the jury’s decision,” Menedez told reporters in a statement outside Manhattan federal courthouse shortly after the verdict. “I have every faith that the law and the facts did not sustain that decision and that we will be successful upon appeal. I have never violated my public oath.”

Pressure has mounted on Menendez in recent days, with at least one dozen Senate Democrats backing his expulsion should he forgo stepping down.

“In light of this guilty verdict, Senator Menendez must now do what is right for constituents, the Senate and our country,” Schumer stated.

Menendez’s arrest may be seen as an ironic twist for those across the digital asset sector, given the fact that he once called Bitcoin “an ideal choice for criminals.”

The New Jersey politician further introduced legislation entitled Accountability for Cryptocurrency in El Salvador Act in 2023 aimed at addressing consequences of the Central American country’s adoption of Bitcoin as legal tender.

Menendez, who denies all allegations, is slated to be sentenced on October 29 and faces a whopping 222 years in prison.

Whether or not the Democratic politician steps down, his alleged involvement and subsequent conviction on grounds of corruption will largely taint whatever remains of his legacy.