Winklevoss Twins Donate $1 Million in Bitcoin to Support Pro-Crypto Candidate Against Elizabeth Warren

By: Isha Das

Tyler and Cameron Winklevoss, the founders of the Gemini exchange, have made a significant donation of $1 million worth of Bitcoin to support the campaign of prominent pro-crypto lawyer John Deaton. Each of the brothers contributed $500,000 in Bitcoin to aid Deaton's effort to unseat Senator Elizabeth Warren in the upcoming U.S. Senate race in Massachusetts.

In a series of statements, the Winklevoss twins described Deaton as an 'American hero' and the only viable candidate capable of defeating Senator Warren. Tyler Winklevoss emphasized Deaton's pro-Bitcoin, pro-crypto, and pro-business stance, contrasting it with Warren's perceived hostility towards the emerging cryptocurrency sector. According to Tyler, Deaton represents substantial leadership and genuine advocacy for the crypto community, unlike Warren, whom he criticized for prioritizing celebrity over legislative efficacy.

John Deaton has been a critical figure in the crypto industry, often speaking out against what he sees as overreaching regulations imposed by financial authorities like the U.S. Securities and Exchange Commission (SEC). He has been actively involved in several high-profile legal battles involving crypto firms, including Ripple, thereby gaining considerable backing within the crypto community. His super political action committee (PAC), the Commonwealth Unity Fund, has already received a $1 million donation from Ripple and has raised approximately $1.7 million in total, as per Federal Election Data.

Earlier, the Winklevoss twins made headlines for their $2 million Bitcoin donation to the presidential campaign of Donald Trump, endorsing his stance against the Biden administration's perceived anti-crypto policies. These donations underscore the twins' continued support for political figures who advocate for a more crypto-friendly regulatory environment.

In their latest statements, the brothers lambasted Warren's anti-crypto policies. Tyler identified Warren as a significant threat to American prosperity, attributing the Biden administration's 'war on crypto' to her influence. He accused Warren of using government agencies to undermine the industry through debanking measures, enforcement actions, and other regulatory tactics. He further argued that Warren's policy approach extends beyond cryptocurrency to generally over-regulate free markets and malign business leaders.

Tyler concluded that cryptocurrencies possess the potential to democratize finance, promoting inclusion and fairness. However, he accused Warren of opposing these advancements due to her desire for control, which he believes undermines the interests of individual consumers. The twins' public stance suggests an ongoing commitment to supporting pro-crypto political candidates and pushing back against regulatory measures they deem harmful to the industry.