Senator Kelly Loeffler, the former CEO of Bitcoin futures exchange Bakkt, has joined President Trump's controversial committee to reopen the economy. But the move has been met with resistance.
The crypto evangelist turned US senator found herself embroiled in accusations of insider trading in March, after dumping millions in stocks following a private coronavirus briefing. She was subsequently moved to liquidate the majority of her shares to avoid being ousted from government.
Now, she's back—and set to make key decisions on the revival of the US economy.
"Thank you, @realDonaldTrump for appointing me to your task force on reopening America safely in the wake of COVID19.” Loeffler Tweeted. "With 22 million Americans filing for unemployment, it's clear we must start working to revive our economy and get the American people back to work safely."
Rupublican senator David Perdue has also joined the committee. According to reports, he purchased stock in a personal protective equipment (PPE) manufacturer before the coronavirus became widespread in the US.
Questions have been raised over whether Trump has the power to reopen the economy. When asked this question, he replied, “Well, I have the ultimate authority.” The New York Times argues that this is false, since he can’t override governors and it doesn’t have backing from the constitution.
But with a committee of 200 people, the chances that they actually come to a decision are slim.