Why is it important that the financial adviser for the Financial Adviser for the man posted on the internet about drug use?
The Vance Pseudo-Drug Abuse Account: Addressing the Problem of Digital Currency in the Light of the SEC 2022 Supercommission
His drug use puts him in contrast to what Vance is supposed to be doing. During his speech at the Republican National Committee this summer, he spoke about how his mother’s struggle with drug addiction has influenced his anti-drug stance. Since joining the Senate, Vance has become one of the leading voices against drug dealing and he has also spoken out in favor of the death penalty for drug dealers.
K’s previous work includes working for the Senate Banking, Housing, and Urban Affairs Committee and as a policy adviser to SEC Commissioner Mark Uyeda. The crypto industry has seen Vance as an ally since he ran for Senate in the 2022 election and then disclosed that he personally owned more than $100,000 in Bitcoin. Gary Gensler, Chair of the SEC, has been criticized multiple times for his heavy-handed approach to regulation of digital currency. The SEC and the Commodity Futures Trading Commission have regulatory authority over digital currency, but a draft bill circulating this summer would take most of that authority away. The bill was called industry-friendly by Politico at the time.
In one of the posts, Kofsky included a number of pieces of information and provided a video of Vance at the Senate hearing. Two of the big bread crumbs that helped me to confirm Kofsky was behind the account were the information with the same name as the Poshmark account and an image of him as its avatar.
After WIRED contacted Kofsky for comment, some of PsychoticMammal’s posts about drugs were deleted, and their Poshmark avatar was changed to a picture of characters from the Star Wars movie Attack of the Clones. Parker Magid, a spokesperson for Vance’s Senate office, provided a statement from Kofsky.
WIRED: The Cryptanalyzing the crypto-co-convention of Trump and Harris: The case against the Trump-Vance campaign
It’s not the same as your average politics newsletter. Makena Kelly and the WIRED Politics team help you make sense of how the internet is shaping our political reality.
The Trump and Harris campaigns both made efforts to win over the community in recent months. Just this week, Trump’s crypto co-venture with his sons Eric and Don Jr. launched, but only a small number of the firm’s crypto tokens were purchased, primarily due to the website crashing in the middle of the launch. WIRED reported that 8,500 people participated in the coin’s presale and collectively purchased 750 million of them.
That the crypto industry clearly favors the Trump-Vance campaign has seemingly spooked the Harris campaign to some degree. Harris has announced her support for the technology this week as part of a new initiative to protect Black men who have invested in these assets.
US Senator Vance Kofsky has revealed that he has used Bitcoin to “purchase drugs”. However, he said that he bought Bitcoin from one of his friends in 2017 who also used Bitcoin to buy drugs. Kofsky added that his account was shut down after he found out about his alleged drug use. Kofsky is an advisor to SEC Commissioner Mark Uyeda.