Winklevoss twins donate $1 million in Bitcoin to Super PAC opposing Senator Elizabeth Warren, boosting political campaign against her policy.
Tyler and Cameron Winklevos, the twin founders of the crypto exchange Gemini, have pledged $500,000 in Bitcoin each to a PAC that supports John Deaton. Pro-crypto attorney Deaton aims to contest and potentially end crypto-critic Senator Elizabeth Warren’s political career of twelve years.
I also just donated $500k in bitcoin (8 BTC) to @DeatonforSenate to help him unseat @SenWarren as a U.S. Senator.
Here’s the TL;DR — John Deaton is:
Pro-Bitcoin
Pro-Crypto
Pro-BusinessAnd he will put an end to Elizabeth Warren’s war on crypto. Onward! https://t.co/JgOF6eBTkc
— Cameron Winklevoss (@cameron) July 18, 2024
These donations are directed towards the Commonwealth Unity Fund, a new “super” political action committee (PAC) dedicated to replacing crypto critic Senator Warren with Deaton. The committee will use these funds independently to solidify Deaton’s candidacy through various ad campaigns.
The crypto community has criticized Democratic Senator Warren for her aggressive stance on the industry. She has frequently shown concerns over user protection, financial crimes, environmental impact, and national security. The crypto industry views the government’s tough stance as a threat to its growth in the United States.
The Winklevoss brothers shared the donation news on their X (formerly Twitter) accounts. Tyler Winklevoss labeled Warren as “public enemy number one” for crypto but commended Deaton for his support of the industry.
He criticized Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), and Martin Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC), calling them “lap dogs and attack dogs” of Warren.
Sen. Warren: ‘A Mastermind’?
Tyler stated that the SEC has been constantly poking “good actors” in the crypto industry. Last year, the regulator filed a lawsuit against Gemini, accusing it of securities law violations connected to its lending platform’s crypto token offerings. This case is part of a broader crackdown affecting companies like Coinbase, Kraken, and Ripple.
Moreover, banking regulators, including the FDIC, have restricted banks from doing business with crypto firms. Tyler stated, “Elizabeth Warren is the mastermind of these illegitimate initiatives, and these are her lieutenants and foot soldiers who carry out her orders.”
The Winklevoss twins’ donations came shortly after Ripple, a renowned crypto firm, contributed $1 million to the Commonwealth Unity Fund in support of Deaton on July 16. James Murphy, the PAC’s fundraising lead, expressed his gratitude to Ripple, and Tyler and Cameron Winklevoss.
Last month, the duo donated $2 million in bitcoin to former president Donald Trump to fight against Biden’s tough stance on cryptocurrencies.
Meanwhile, Deaton faces two challengers for the GOP nomination against Warren: Ian Cain and Robert Antonellis. Warren will learn of her official challenger after the Massachusetts State Primary, scheduled on September 3.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
