Janet Yellen taking millions from banks in plain sight

Janet Yellen taking millions from banks in plain sight

As the US Senate is debating on Biden’s infrastructure bill and a controversial crypto-related provision, crypto community took a closer look at one of the fiercest crypto opponents in the federal government – the head of Treasury and the ex-head of the Fed Janet Yellen.

We used to think that the 74-year-old official just didn’t have enough hindsight to truly understand the many benefices of crypto, or that she was holding tight at her job, which would radically change if crypto becomes ubiquitous.

These reasons are surely not worth of a high position she holds, but the reality might be even more dirty.

While having an official salary of over $200k/year, Mrs Yellen earned at least $7M in 2020 for “speaking engagements” with banks and other financial institutions, as reported by The Guardian in January’21. This is a common practice for retired officials, but not the sitting ones, and really… do you think a bank would spend $100k, $200k for having Mrs Yellen to only speak for 1 hour? From where we stand this is called bribe, and Mrs Yellen is working hard to justify these amounts by notably doing all in her power to stop crypto industry from developing. Apart from the many public appearances where she slanders Bictoin, she is now reportedly lobbying lawmakers in private to object the pro-crypto amendment to the infrastructure bill, which could have disastrous consequences for the crypto industry in the US.

The fact that such huge conflict of interest goes under the radar of all anti-corruption watchdogs only adds to the hypocrisy of the situation and reminds us not only of the House of Cards series, but especially of the importance of decentralization.