Last month, the Winklevoss twins donated $2 million in Bitcoin to Trump to oppose Biden’s strict stance on cryptocurrencies.
Tyler and Cameron Winklevoss, the founders of the crypto exchange Gemini, each pledged $500,000 in Bitcoin to a PAC supporting John Deaton. The pro-crypto lawyer Deaton wants to challenge and possibly end Senator Elizabeth Warren’s twelve-year political career.
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
They directed these donations to the Commonwealth Unity Fund, a new super political action committee (PAC) focused on replacing Senator Warren with Deaton. The committee will use these funds to support Deaton’s campaign through various ad campaigns.
The Battle for the GOP Nomination
The crypto community often criticizes Democratic Senator Warren for her strong stance against the industry. She worries about user protection, financial crimes, environmental impact, and national security. Many in the crypto industry see these government actions as a threat to their growth in the United States.
The Winklevoss brothers announced their donations on their X (formerly Twitter) accounts. Tyler Winklevoss called Warren “public enemy number one” for crypto and praised Deaton for supporting the industry.
He also criticized SEC Chairman Gary Gensler and FDIC Chairman Martin Gruenberg, calling them Warren’s “lap dogs and attack dogs.”
Tyler said the SEC constantly targets “good actors” in the crypto industry. Last year, the SEC it has sued Gemini, accusing it of breaking securities laws with its lending platform’s crypto token offerings. This lawsuit is part of a larger crackdown affecting companies like Coinbase, Kraken, and Ripple.
Banking regulators, including the FDIC, have stopped banks from working with crypto firms. Tyler said, “Elizabeth Warren is behind these illegitimate actions, and these are her lieutenants and foot soldiers who follow her orders.”
The Winklevoss twins’ donations followed Ripple’s $1 million contribution to the Commonwealth Unity Fund for Deaton on July 16. James Murphy, the PAC’s fundraising lead, thanked Ripple and the Winklevoss twins. Last month, the twins also donated $2 million in Bitcoin to former President Donald Trump to oppose Biden’s strict stance on cryptocurrencies.
Deaton has two rivals for the GOP nomination to challenge Warren: Ian Cain and Robert Antonellis. The official challenger for Warren will be decided after the Massachusetts State Primary on September 3.
