Winklevoss Twins Donate $1M in Bitcoin to Support Crypto Advocate John Deaton

Gemini co-founders Cameron and Tyler Winklevoss each donated $500,000 worth of Bitcoin to John Deaton’s political campaign. Their total contribution of $1 million aims to unseat Senator Elizabeth Warren, signaling their dedication to promoting a crypto-friendly political environment. 

The Winklevoss twins built a substantial business with their exchange, Gemini. They back Deaton because he aligns with their vision for the future of cryptocurrency. By contributing 16 Bitcoins to his campaign, they support a candidate who advocates for the crypto industry.

John Deaton, a lawyer and cryptocurrency advocate, has significant backing within the crypto community. He has vocally opposed regulatory actions led by Senator Warren and her allies. Deaton’s campaign has gained endorsements from various personalities and organizations in the crypto space, reflecting widespread discontent with current regulations.

The Winklevoss twins have openly criticized Senator Warren. They argue her stance on cryptocurrency regulation threatens the American economy. Tyler Winklevoss highlighted Warren’s influence over regulatory bodies, accusing her of using governmental power to hinder the crypto industry through debanking and restrictive measures.

Under Warren’s leadership, the SEC has launched numerous investigations and legal actions against crypto firms. The FDIC’s Operation Choke Point 2.0 has pressured banks to avoid dealing with legal crypto businesses.

According to the Winklevoss twins, this regulatory crackdown began during the 2020 Presidential campaign. Biden secured Warren’s support by granting her significant influence over his regulatory agency nominations, allowing her to shape economic policy against the crypto industry.

In a related effort, Ripple Labs recently donated $1 million to the Commonwealth Unity Fund, a super PAC established by pro-crypto attorney James Murphy. The contribution directly counters Warren’s strict regulatory stance on cryptocurrencies. In the past month, the Winklevoss twins publicly backed former President Donald Trump and contributed $2 million to his campaign as the Republican presidential nominee.

The combined efforts of the Winklevoss twins and Ripple Labs reflect a growing resistance within the crypto community against policies perceived as hostile. This sets the stage for a significant political battle.