Winklevoss twins donate $1M to challenge Elizabeth Warren

Tyler and Cameron Winklevoss, co-founders of cryptocurrency exchange Gemini, have each contributed $500,000 in Bitcoin (BTC) to support efforts to… Continue reading Winklevoss twins donate $1M to challenge Elizabeth Warren

The post Winklevoss twins donate $1M to challenge Elizabeth Warren appeared first on ReadWrite.

Tyler and Cameron Winklevoss, co-founders of cryptocurrency exchange Gemini, have each contributed $500,000 in Bitcoin (BTC) to support efforts to replace United States Senator Elizabeth Warren.

The donations, totaling $1 million, were made to John Deaton, a crypto advocate running for Senate. Tyler wrote in a July 18 Twitter thread:

Elizabeth Warren is one of the single greatest threats to American prosperity. When it comes to crypto, she is public enemy number one. She’s the chief architect and driver of the Biden Administration’s war on crypto. She wages this unlawful war by weaponizing government agencies to attack our industry through a combination of debanking, bad faith enforcement actions, and other abuses of power.

The Winklevoss twins described Deaton as a “pro-Bitcoin, pro-crypto, and pro-business candidate.” The donations will go to the Commonwealth Unity Fund, a new super PAC created to support Deaton’s campaign against Warren. While not directly benefiting Deaton’s campaign, the funds will be used independently for campaign advertising.

Not the first Winklevoss’ political move

This move follows the Winklevoss twins’ $2 million Bitcoin donation to Donald Trump’s presidential campaign last month. Tyler Winklevoss claimed that Warren gained significant influence over Biden’s regulatory appointments due to their mutual support during the 2020 presidential campaign.

He asserted that agency heads, including SEC Chair Gary Gensler and FDIC Head Martin Gruenberg, are beholden to Warren. She was the one who — alongside William Cassidy (R-La.) sent a letter to the Office of National Drug Control Policy and the Drug Enforcement Administration that read:

[We] seek an update on the Biden Administration’s actions to crack down on drug traffickers’ exploitation of crypto to grow their business and launder their ill-gotten gains.

Prior to Deaton’s candidacy announcement, Warren stated she was “not afraid” of facing a pro-crypto opponent. She has been outspoken against cryptocurrencies, claiming they pose national security risks and “help terrorists.” Warren has also opposed stablecoin legislation, arguing it could exacerbate risks to the American banking sector.

The post Winklevoss twins donate $1M to challenge Elizabeth Warren appeared first on ReadWrite.