Sen. Debbie Stabenow, a Michigan Democrat, on Thursday said she won’t seek re-election. Stabenow said in a Twitter post: “Inspired by a new generation of leaders, I have decided to pass the torch in the U.S. Senate. I am announcing today that I will not seek re-election and will leave the U.S. Senate at the end of my term on January 3, 2025.” The Democrat has authored legislation that would give the Commodity Futures Trading Commission regulatory power over the cryptocurrency industry. Sam Bankman-Fried, who has resigned as the chief executive of crypto exchange FTX, was a supporter of the legislation.
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