On July 18, Tyler Winklevoss, co-founder of Gemini crypto exchange, announced a significant political donation. He donated $500,000 in Bitcoin, approximately 8 BTC, to support John Deaton’s bid for the US Senate in Massachusetts.Â
Tyler’s twin brother, Cameron Winklevoss, matched this contribution. Their combined donation totals $1 million in Bitcoin. This support aims to help Deaton unseat incumbent Senator Elizabeth Warren, a known critic of the crypto industry.Â
Tyler Winklevoss Criticizes Senator WarrenÂ
In a detailed post on his X account, Tyler expressed his reasons for supporting Deaton. He believes Senator Warren poses a substantial threat to American prosperity. He argued that Warren has played a key role in the Biden administration‘s efforts to undermine the crypto industry.Â
Tyler accused Warren of using her influence over regulatory agency appointments to orchestrate a campaign against crypto. He cited actions like “de-banking” and bad-faith enforcement as stifling innovation and economic growth.Â
Call for SupportÂ
Tyler urged others to contribute to Deaton’s campaign and the Commonwealth Unity Fund Super PAC, which supports Deaton and opposes Warren. Donations in Bitcoin or other cryptocurrencies can be made via Gemini.Â
The Winklevoss twins’ support for Deaton is based on their belief in crypto’s potential to democratize finance and foster economic freedom. They view Deaton as a champion of these values, in stark contrast to Warren’s perceived hostility towards the industry.Â
John Deaton’s CampaignÂ
John Deaton, running for the US Senate, has been a vocal advocate for the crypto industry. I his career as an attorney, he has defended a number of crypto firms against regulatory actions. He is known for criticizing overreach by agencies like the US Securities and Exchange Commission (SEC).Â
Deaton’s legal efforts have earned him a reputation as a strong defender of the crypto industry. This has bolstered his appeal among crypto proponents.Â
Ripple Labs’ SupportÂ
The Winklevoss twins are not alone in supporting Deaton. Earlier this year, Ripple Labs, the company behind the XRP cryptocurrency, donated $1 million to the Commonwealth Unity Fund. Deaton has defended Ripple Labs in its legal battles with the SEC.Â
According to Federal Election Commission (FEC) data, Deaton has raised nearly $1.7 million as of June 30. Both the Winklevoss twins and Ripple Labs have a history of significant donations to pro-crypto political efforts.
Disclaimer
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Best practices for crypto investment include research, diversification, investing what you can afford to lose, and avoiding hype-driven investments.
