* “Girl, I Guess” on Democratic Illinois comptroller candidate Lake County Treasurer Holly Kim…
There’s a lot to like about Kim, whose goofy nerdlery (she has a NERD ALERT on her website) and intense earnestness would normally set her up as the frontrunner for my endorsement. Unfortunately, Kim’s penchant for cryptocurrency, including a shady-on-paper exchange with campaign donor and constituent Mark Tan where she received a crypto contribution at an address registered to a business that Tan controls, only to make a crypto investment the next day at that same address in a memecoin that she and Tan created together, had me firing up my FOIA fingers to investigate the extent of her crypto ties. The $8,300 investment in CHKN Token, by the way, is worth only $.21 at the time of this writing, representing a loss of 99.998%.
Kim and several people around her that I trust explained what happened, insisting to me that the exchange was above board, that the donor did not profit, and that there is no quid-pro-quo here. For what it’s worth, I do believe them. But. Not only am I forcefully anti-crypto in any and all cases, I don’t think that someone who would make an investment that size into an unstable currency, no matter what the reason why, has 100% sound financial judgement. What’s more, someone who would use campaign funds to enter into this transaction with someone who is both their donor and business partner is displaying a shocking lack of political judgement. That is, unfortunately for Kim, disqualifying in my book.
* Chicago Tribune this morning…
Months before Lake County Treasurer Holly Kim announced her bid for Illinois comptroller, she used about $8,300 in previously contributed campaign funds to invest in a cryptocurrency she founded called CHKN token — a digital asset inspired by her backyard flock of chickens.
By the end of 2025, the investment — totaling roughly 8.87 million tokens — had lost nearly all its value, dropping to just $34.59, according to filings with the Illinois State Board of Elections.
Kim, a Democrat seeking to succeed Comptroller Susana Mendoza as the state’s chief fiscal officer, said the loss should not be viewed as a reflection of her ability to oversee Illinois’ finances. Instead, she described the investment as a learning experience that reflected her efforts to better understand emerging financial technologies.
“I’m someone who learns things by doing, and this is, you know, entirely why I would have converted crypto into a token, because, you know, it depends what’s popular,” Kim said in an interview late last month with the Tribune about the investment. “But voters can absolutely trust me because I’m trying to stay on top and learn about emerging industries.” […]
Kim’s campaign contribution loss has put a spotlight on cryptocurrencies in the battle for Illinois comptroller, one of the bigger statewide races in 2026 following Mendoza’s decision last year not to run for a fourth term. In addition to Kim’s issue with crypto, comptroller candidate Margaret Croke, a Democratic state representative from Chicago, introduced legislation years ago to benefit and regulate the crypto industry.
* The comptroller has no real control over Illinois investments. But any Democrats connected to crypto right now, including Kim and Croke, are gonna have to face the music…
Crypto Takes a Deep Slide Despite Trump’s Support
The price of Bitcoin is lower than it was the day before President Trump’s election. A leading cryptocurrency exchange is laying off a large chunk of its work force. And a push for industry-friendly legislation has stalled in Congress.
After months of declining prices and dispiriting setbacks, the crypto industry has found itself deep in one of its periodic slumps — a so-called crypto winter.
Bitcoin is trading at less than $64,000, a nearly 50 percent decline from its peak price, which it reached just last October. The prices of two other top coins, Ether and Solana, are both down more than 30 percent over the past week.
At the same time, the stock prices of major crypto firms have plummeted. Strategy, a company that buys enormous amounts of Bitcoin, is down 75 percent since November 2024, when Mr. Trump was newly elected and promised to make the United States “the crypto capital of the planet.” […]
The downturn is especially disappointing for the industry because it has come at a time when the White House is embracing crypto and promising to boost the industry in the United States. The plunging prices show how vulnerable Bitcoin remains to broader economic trends, like the pressures on the larger tech industry that have caused a marketwide sell-off in recent days.
Lots more in all of those stories.
Discuss.
- BE - Friday, Feb 6, 26 @ 8:53 am:
I wonder if anyone has done a comparison between Bitcoin crashing and Trumpcoin being used for…encouraging the president.
Melania’s coin is worth *checks* 11 cents.
- Excitable Boy - Friday, Feb 6, 26 @ 9:09 am:
- she used about $8,300 in previously contributed campaign funds to invest in a cryptocurrency she founded called CHKN token — a digital asset inspired by her backyard flock of chickens. -
Yeah, no. This was the only race I was still undecided on, mostly because of my ignorance of some of the candidates. Not anymore.
- Occasionally Moderated - Friday, Feb 6, 26 @ 9:13 am:
A structurally circular transaction with a preordained outcome.
Reminds me of gold devaluation money laundering but for a different purpose.
- Shytown - Friday, Feb 6, 26 @ 9:37 am:
I feel like I gotta say this out loud, but it’s hard for me to take Holly Kim as a serious person and candidate. And folks want a comptroller who’s serious about the job. I really don’t need a comptroller who’s focused on trying to prove they’re good at making TikTok videos - we need someone who’s focused on managing/paying the bills. I just want the work to get done. And this whole crypto thing is frankly creepy. “Experimenting“ with crypto to figure out how it works and posting videos about it does not help make the case to be comptroller IMO.
- Frequent Commenter - Friday, Feb 6, 26 @ 9:39 am:
Serious question for the CapFax community - “ she used about $8,300 in previously contributed campaign funds to invest in a cryptocurrency she founded”
Isn’t this a violation of the campaign finance/ethics laws?
I know you can invest excess campaign funds in equites and other public investments for a better return, but in this case she actually OWNS the entity. That is a direct personal benefit. Definitely has ethical implications if not directly illegal.
- Pundent - Friday, Feb 6, 26 @ 9:43 am:
=“I’m someone who learns things by doing, and this is, you know, entirely why I would have converted crypto into a token, because, you know, it depends what’s popular,”=
Based on that logic she could have taken the donation and used it to learn to play backjack. The outcome would have been the same.
- Three Dimensional Checkers - Friday, Feb 6, 26 @ 9:52 am:
Well, time to start looking at Stephanie Kifowit. My voting priorities here are (1) not sympathetic to crypto bros and (2) not endorsed by CTU. No self appointed “tell people who to vote for” person is going to move me off these priorities.
- Larry Bowa Jr - Friday, Feb 6, 26 @ 9:54 am:
If you want to be taken seriously by people who aren’t idiots, the only thing worse than not seeing that crypto is a vacuous scam is trying to get in on it with your own scam.
Embarrassing.
- Rahm's Parking Meter - Friday, Feb 6, 26 @ 9:55 am:
I’m voting for Croke.
- Keeping IT Real - Friday, Feb 6, 26 @ 9:59 am:
-Prudent- is right, crypto is basically gambling. I threw about 2K into crypto years ago, because why not. I’m still up with BTC but down on the others. It’s very very volatile. It has NOTHING to do with any president, Biden/Trump/other.
Lastly, regarding the “11 cents” comment… Tell us you know nothing about crypto without telling us. Many coins are fractions of a cent. For example, SHIB is currently $0.00000615. I know people who made quite a bit off that coin years ago.
In summary I would not recommend crypto unless you’re fine with possibly losing it all. Buy gold or silver.
- Natty_B - Friday, Feb 6, 26 @ 10:03 am:
I usually do the opposite of the “Girl I Guess” guide so this is useful
- Rahm's Parking Meter - Friday, Feb 6, 26 @ 10:11 am:
I read the Girl I Guess thing last night. That had to be the most vile Election guide they have put out or that I have ever read. And I usually vote the opposite.
- NIU Grad - Friday, Feb 6, 26 @ 10:21 am:
I’ve been a big fan of Kim over the year and the much-needed energy she brings to the party, but this crypto story has made me seriously question her judgement. There’s a point where someone goes from “being good at social media” to “way too ‘online’” and crypto schemes are usually where that line lies.
Having a comptroller candidate get sucked into online Monopoly money schemes is a serious mark against her. Starting a crypto just to experiment with it and learn about it is one thing. Losing $8K to it is just plain reckless.
- *ducks* - Friday, Feb 6, 26 @ 10:24 am:
the excuse that “at least it wasn’t my own money” is the worst part. i don’t know how a seasoned comms pro doesn’t prevent her from going on the record there.
- Shytown - Friday, Feb 6, 26 @ 10:26 am:
== Isn’t this a violation of the campaign finance/ethics laws? ==
Did not even think about that, but you make a good point. Like I said, it all feels creepy to me. And maybe by creepy what I really mean is not legal.
To the comments regarding girl I guess, vile is putting it lightly. I hope that author has a good lawyer because there’s some straight slanderous stuff in there. But wait for it – opponents will cite it in their ads as they get desperate in the waning days of the election.
- BigLou - Friday, Feb 6, 26 @ 10:49 am:
I do not like crypto. Months ago someone told me Croke’s husband has something to do with helping pass crypto stuff in Illinois, is that true? I was also told she either introduced or voted on things he was trying to pass. Is that true? When I heard it I thought no way I am voting for her. I thought Holly would be a nice change but frankly after reading this her kookiness is too much, especially if she is willing to take bets on crypto.
- Excitable Boy - Friday, Feb 6, 26 @ 10:49 am:
- there’s some straight slanderous stuff in there. -
Don’t hide your light under a bushel, we love specifics here.
- Annon'in - Friday, Feb 6, 26 @ 11:01 am:
The crypto mish mash seems to more confusing on a daily basis. The Kim chapter makes no sense. We could have used that logic to put $8,300 on black, or #5 to win in the 5th. Seems silly for someone seeking a fiscal office. TTFN.
The decline in crypto value seems unexplained. The Arab prince investment in Trump crypto jaw dropping. All needs more ’splain’in.
- 2nd Amendment Follower - Friday, Feb 6, 26 @ 11:02 am:
== Isn’t this a violation of the campaign finance/ethics laws? ==
My assumption here is she was investing funds in an alternate financial product. Campaign PAC’s historically would put access funds in some type of investment vehicle. She would not profit from the investment her PAC would. The same as if she would put funds in a Certificate of Deposit of a high yield savings account.
- Ducky LaMoore - Friday, Feb 6, 26 @ 11:04 am:
How much longer are we going to be fooling around with digital Monopoly money? It’s not backed by anything, it produces nothing, and seems to be useful only for terrorist governments, money launderers, kidnappers and drug cartels.
- Candy Dogood - Friday, Feb 6, 26 @ 11:07 am:
===and seems to be useful only for terrorist governments, money launderers, kidnappers and drug cartels.===
Based on the above it seems like we can expect it to continue to be supported by the Trump Administration.
- TinyDancer(FKA)Sue - Friday, Feb 6, 26 @ 11:13 am:
Those who cannot remember the past are condemned to repeat it.
Tulips anyone? Anyone?
- Courtland50 - Friday, Feb 6, 26 @ 11:27 am:
Re: I really don’t need a comptroller who’s focused on trying to prove they’re good at making TikTok videos - we need someone who’s focused on managing/paying the bills.
Ok boomer. I think we need a comptroller who 1) has experience managing public funds 2) is able to communicate with voters where they are, even if that means making some social videos now and then. 3) talking about not taking a female candidate seriously for these reasons is giving sexism, internalized or otherwise. You don’t like what she did with crypto. Fine. But she’s head and shoulders above the rest of the field in terms of experience and has a pretty great track record in Lake County. But sure, let’s denigrate her as a professional. Cool cool. Love it here.
- Thankful Lake County Resident - Friday, Feb 6, 26 @ 11:43 am:
Seeing that the $8,300 was likely leftover from one of Holly Kim’s runs for Lake County Treasurer, I actually appreciate her willingness to explore the world of crypto. Funds remaining from a campaign can be invested as the candidate sees fit, and using that money to better understand an emerging financial space makes sense.
Crypto is where a lot of residents are already putting their money—sometimes wisely, sometimes not. By doing her own hands-on research, Holly Kim is putting herself in a better position to recognize scams, risks, and opportunities that could affect Lake County taxpayers. A Treasurer who understands new financial trends instead of ignoring them is a big plus in my book.
- Rich Miller - Friday, Feb 6, 26 @ 11:47 am:
===By doing her own hands-on research===
Then maybe use her own money.
- Dirty Politicians doing Dirty deeds - Friday, Feb 6, 26 @ 11:51 am:
I think this is nothing more than a last-minute ploy by another candidate to smear Holly Kim’s name. Investing leftover campaign funds is completely legal, and there’s nothing improper about choosing to put that money into emerging financial markets.
Using those funds to learn firsthand about a new form of financial growth actually shows forward thinking. Crypto and digital assets are becoming part of everyday finance, and having a Treasurer who understands how they work—rather than dismissing them out of fear—benefits all of us. This looks less like a scandal and more like smart, responsible curiosity.
- Alton Sinkhole - Friday, Feb 6, 26 @ 11:52 am:
==Love it here.==
Who is forcing you to be here?
- Candy Dogood - Friday, Feb 6, 26 @ 12:04 pm:
===A Treasurer who understands new financial trends instead of ignoring them is a big plus in my book===
Gleefully creating your own meme coin and losing thousands of dollars in the process isn’t something people need direct experience to understand that it is happening.
You’re suggesting that an ideal trait for elected officials is that they all need to be the type who need to pee on electric fences.
It was a dumb stunt and using campaign funds to do it opened her up to unnecessary criticism.
- localgovhero - Friday, Feb 6, 26 @ 12:10 pm:
Lots of new usernames. Hmmmm, interesting. “3) talking about not taking a female candidate seriously for these reasons is giving sexism, internalized or otherwise.” First, what an accusation. Second, “is giving”, seriously?
- Ponyboy1964 - Friday, Feb 6, 26 @ 12:30 pm:
I wonder why this came out today? Could it be that early voting started yesterday?
- Frequent Commenter - Friday, Feb 6, 26 @ 12:33 pm:
To 2nd Amendment - Thank you, normally I would agree with your logic, but in this instance, Ms. Kim is a partner in the vehicle she invested her campaign fund in. She could profit personally if her campaign investment moved the market or if she as an owner “sold” shares to her Campaign fund at a higher than market price.
To me this is no different than using Campaign funds to pay rent (maybe at a higher than market rate) for an office space that I personally own and personally profiting from it
Or maybe even worse - what if I sell the office space that I personally own to my campaign so I can learn the real estate market and let my campaign take the $$$ hit - s/intended!
- Jolietj - Friday, Feb 6, 26 @ 12:39 pm:
Would bet those excoriating crypto on here didn’t buy btc at $5k lol
- amboy dukes - Friday, Feb 6, 26 @ 12:46 pm:
===By doing her own hands-on research===
Then maybe use her own money.
Yes, agreed 100%, and not make it public information while in a contested campaign. At best this is amateur hour. The whole thing is very strange. Clearly, she was expecting to make a lot of money rather than losing it all but that would have been weird as well. Maybe she has made a lot of money and we won’t know until the next report is filed…
- Rich Miller - Friday, Feb 6, 26 @ 12:54 pm:
===I wonder why this came out today?===
lol
Is this your first campaign? Or are you trying to use story timing as a red herring, because it “came out” before today, as the first post shows.
- Candy Dogood - Friday, Feb 6, 26 @ 1:01 pm:
===Would bet those excoriating crypto on here didn’t buy btc at $5k lol ===
I didn’t buy into bitcoin because bitcoin is a ponzi scheme. If I had understood in 2010 how incredibly stupid everyone one, including governments and policy makers were going to be about bitcoin, I might have invested then. The last 15 years has truly been a life intended to punish someone for having optimism when it comes to groups of people getting together to make decisions together.
Something you might want to consider is that at the same time as bitcoin increased there are plenty of other companies that actually provide services or made products that have seen even better results since bitcoin was at 5k.
- Shytown - Friday, Feb 6, 26 @ 1:21 pm:
== Ok boomer ==
Tell me you’re on Holly’s team without saying you’re on Holly’s team.
Not a boomer and not buying into the messaging. Sorry kiddo.
- Pundent - Friday, Feb 6, 26 @ 1:22 pm:
=Using those funds to learn firsthand about a new form of financial growth actually shows forward thinking. Crypto and digital assets are becoming part of everyday finance, and having a Treasurer who understands how they work—rather than dismissing them out of fear—benefits all of us.=
Yes. Because as Democractic candidates campaign on affordability to reach every day folks, investing in a meme coin is the kind of kitchen table issue that really resonates with the voters.
- Joe Bidenopolous - Friday, Feb 6, 26 @ 2:03 pm:
===Lots of new usernames. Hmmmm, interesting. “3) talking about not taking a female candidate seriously for these reasons is giving sexism, internalized or otherwise.” First, what an accusation. Second, “is giving”, seriously?===
Plus, all four dems in the race are women? Who would “is giving sexism” benefit?
Also noticed the new user names. Not hard to figure out where they’re from, given the arguments
- Rich Miller - Friday, Feb 6, 26 @ 2:11 pm:
===given the arguments===
My opinion is you’re free to argue with other commenters, but when you attack the users of this site with a broadbrush, I draw the line. This message has been personally communicated to the commenter. I was assured it won’t happen again.
Please move on.
- OneMan - Friday, Feb 6, 26 @ 2:37 pm:
== Seeing that the $8,300 was likely leftover from one of Holly Kim’s runs for Lake County Treasurer, I actually appreciate her willingness to explore the world of crypto. Funds remaining from a campaign can be invested as the candidate sees fit, and using that money to better understand an emerging financial space makes sense. ==
== - she used about $8,300 in previously contributed campaign funds to invest in a cryptocurrency she founded called CHKN token — a digital asset inspired by her backyard flock of chickens.==
I will say doing this to ‘explore the world of crypto is a bit like saying I would like to explore the world of road construction by immediately going to Menards with someone else’s money, buying one of their house kits, and starting to build it without any previous construction experience.
It isn’t even so much the loss, which is awkward, as the fact that the approach she chose illustrates a complete lack of understanding of the subject. It’s like saying I want to learn about investing, so I purchased a Mega-Millions ticket.
- Dotnonymous x - Friday, Feb 6, 26 @ 2:53 pm:
If crypto turns out to be ripto, I won’t be the one who’s surprised.
- low level - Friday, Feb 6, 26 @ 2:54 pm:
Even with the recent pullback, Bitcoin is up 75% in 5 years. Those gains are real. Im not voting for Holly but I do appreciate her wanting to learn about crypto. Its here to stay. If I had the btc I haf in 2018 I would be very happy right now. I sold during a similar “winter” and wont make that mistake again.