Winklevoss Twins Boost Anti-Warren Campaign with $1 Million Bitcoin

The twin founders of the crypto exchange Gemini, Tyler and Cameron Winklevoss, recently made a $1 million Bitcoin donation to a PAC against Senator Elizabeth Warren.

Every brother donated $500,000 to the Commonwealth Unity Fund, a new Super PAC supporting the pro-crypto lawyer John Deaton. Deaton wants to unseat and possibly put an end to Warren’s twelve years of political service.

The community, of course, did not remain indifferent to the statements made by Senator Warren, who has recently become an opponent of the industry. Still, she has raised concerns regarding users’ protection, financial fraud, environmental matters, and the security risks of cryptocurrency.

The siblings are particularly out against Warren, whom they called as the public enemy number one to the crypto space. Tyler Winklevoss accused Warren, SEC Chairman Gary Gensler, and FDIC Chairman Martin Gruenberg of being “lapdogs and attack dogs”.

Previous Donations and Support

This is the second big contribution from the Winklevoss twins towards political campaigns in the recent one month. In June, they contributed $2 million in Bitcoin to ex-President Donald Trump against Biden’s severe cryptocurrency measures. The Commonwealth Unity Fund, which will channel the funds to Deaton’s campaign for various ad campaigns, got another contribution of $1 million from Ripple, a well-known crypto company, this month.

John Deaton is a pro-crypto lawyer who will challenge Senator Warren in the Massachusetts State Primary on September 3. Even though Deaton has two other opponents within the GOP, Ian Cain and Robert Antonellis, the crypto community has provided him with significant funds for his campaign. Because of the FEC rules that disallow coordination between the super PACs and the candidate, Deaton has not made any comments regarding these donations.

According to James Murphy, the fundraising lead for the Commonwealth Unity Fund, Ripple and the Winklevoss twins have been of great help. He said, 

“I am very thankful to management at Ripple and to Tyler and Cameron Winklevoss for supporting the Commonwealth Unity Fund. I believe that they are contributing to making people understand that John Deaton can very much win in November.”

Ongoing Legislative Efforts and Industry Response

Senator Warren has been actively introducing legislation aimed at preventing the use of cryptocurrencies in terrorism or illicit finance schemes. The crypto industry views these regulatory efforts as a potential threat to its growth in the United States, fearing that stringent regulations might drive crypto firms to move offshore. 

Despite this, Warren remains a strong contender in the upcoming election, enjoying significant support within her state and from the Biden Administration.