U.S. Senator Cynthia Lummis has yet to address public concerns about whether her Bitcoin maximalist son-in-law, Will Cole, might influence her views on crypto policy.
These concerns arose after Ripple CEO Brad Garlinghouse criticized Senator Lummis on X for canceling a meeting. According to Garlinghouse, the Senator has refused to reschedule the meeting.
“As a leader in Congress and a Senator from a pro-crypto state, Wyoming, I hope you will reconsider and be a leader for ALL of crypto,” Garlinghouse remarked in the statement issued on May 19.
Stakeholders Concerned About Lummis’ Ties to Bitcoin Maxi Son-in-Law
Not surprisingly, this abrupt cancellation has sparked significant concern among crypto stakeholders. According to some industry stakeholders, her decision to snub Ripple’s CEO indicates that Lummis may be less receptive to crypto networks beyond Bitcoin.
Lummis’s ties to her son-in-law, Will Cole, a major Bitcoin maximalist who convinced her to buy Bitcoin in 2013, reinforce this fear.
Cowboy Crypto, a pseudonymous crypto investigator, alleged that Cole might be influencing Lummis’ legislative agenda in favor of Bitcoin.
Cole has been an advocate for Bitcoin since its early days. He has publicly backed the premier cryptocurrency and supported criticisms of other projects, including XRP. According to Cowboy Crypto, Cole is enthusiastic about Bitcoin and hates Ripple’s success.
Notably, he runs a small Bitcoin-only payments company called Zaprite. Although the company has existed since 2017 and has received venture capital funding, its growth has been modest, with only two employees, according to data from PitchBook.
Nonetheless, Cole has remained a strong Bitcoin maxi and has publicly advocated for the asset at the expense of others.
Will Lummis Pursue Bitcoin-Only Policy?
Lummis currently chairs the U.S. Senate Subcommittee on Digital Assets, which plays a central role in shaping congressional crypto regulation.
Given her familial ties to Cole and her recent snub of Garlinghouse, some fear she may advocate for rules that favor Bitcoin over other cryptocurrencies.
A case in point was when she rallied behind a bill to establish a Bitcoin-only reserve in the United States, which would hold up to 1 million BTC for 20 years. While many initially commended the bill, others criticized it for its exclusive focus on Bitcoin.
However, President Donald Trump signed an order favoring a multi-asset reserve. Notably, Garlinghouse played a significant role in convincing the White House to establish a multi-asset reserve, with Trump naming XRP among the assets that could be held in the initiative.
Meanwhile, Lummis’ refusal to reschedule the meeting with Garlinghouse has fueled ongoing concerns about a potential conflict of interest.
Lummis’ Support for Broader Crypto Industry
While her recent actions might suggest preferential treatment for Bitcoin over other assets, Senator Lummis has advocated for the broader crypto industry.
Earlier, she characterized 2025 as the year of Bitcoin and digital assets. In December 2024, she declared that the war against crypto in the United States would end on January 20, 2025, coinciding with when Trump was sworn into office.
Sherrod Brown’s last act as Committee Chairman is to once again try to shank the crypto industry by reinstalling an anti-crypto, radical climate activist SEC commissioner in the final days of the Biden admin—the war on digital assets ends on January 20, 2025.
— Senator Cynthia Lummis (@SenLummis) December 11, 2024
Notably, Lummis joined Senator Bill Hagerty in introducing the GENIUS Act, a stablecoin legislation nearing its signature in law.
Additionally, she publicly criticized Operation Chokepoint 2.0, an alleged deliberate act by financial agencies to exclude crypto businesses from accessing traditional financial services.
Interestingly, Lummis threatened the Federal Deposit Insurance Corporation (FDIC) with a Department of Justice (DOJ) investigation over the alleged destruction of evidence linked to Operation Chokepoint 2.0.
Lummis is a vocal critic of former SEC Chairman Gary Gensler, who oversaw enforcement actions against several crypto projects, excluding Bitcoin.
Moreover, she has made favorable comments on developments related to other cryptos. A case in point was when she applauded the SEC for approving the launch of multiple Ethereum exchange-traded funds (ETFs) last year.
These efforts showcase her support for the broader crypto industry, as opposed to claims that her Bitcoin maxi son-in-law is influencing her policy in favor of BTC.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
