Winklevoss Twins Donate $1M in Bitcoin To John Deaton’s Campaign

Highlights:

• The Winklevoss twins donated $1M in Bitcoin to support Deaton’s campaign against Elizabeth Warren.
• Cameron and Tyler Winklevoss criticized Senator Warren, accusing her of harming the crypto industry.
• Ripple Labs donated $1 million to Deaton’s campaign, highlighting the election’s importance for crypto.

On July 18, Gemini co-founders Cameron and Tyler Winklevoss said they had donated $1M in Bitcoin (BTC) to support John Deaton’s political campaign against Senator Elizabeth Warren in the Massachusetts Senate race. In a post on X, Tyler Winklevoss called Senator Elizabeth Warren crypto’s “public enemy number one.” He said Warren is the chief architect and driver of the Biden Administration’s war on crypto.

I just donated $500k in bitcoin (8 BTC) to @DeatonforSenate to help him unseat @SenWarren as a U.S. Senator. Here’s why:

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… pic.twitter.com/FK2a1JenlF

— Tyler Winklevoss (@tyler) July 18, 2024

Both brothers donated $500,000 each in Bitcoin to Deaton’s campaign, as stated in separate posts. Cameron Winklevoss called Deaton “pro-crypto” and “pro-Bitcoin” in his post. This generous contribution reflects the twins’ commitment to supporting a crypto-friendly candidate they believe will advance the cryptocurrency industry.

I also just donated $500k in bitcoin (8 BTC) to @DeatonforSenate to help him unseat @SenWarren as a U.S. Senator.

Here’s the TL;DR — John Deaton is:

Pro-Bitcoin
Pro-Crypto
Pro-Business

And he will put an end to Elizabeth Warren’s war on crypto. Onward! https://t.co/JgOF6eBTkc

— Cameron Winklevoss (@cameron) July 18, 2024

John Deaton, an advocate of cryptocurrencies and lawyer for the crypto industry, has received endorsements from various personalities and organizations in the space. He is known to oppose Senator Warren and his supporters’ unfair actions.

Winklevoss Twins Claim Warren Harms Crypto Industry

Tyler and Cameron Winklevoss have criticized the senator, arguing that her position on cryptocurrencies threatens the American economy. 

Tyler Winklevoss said:

John Deaton is an American hero; Elizabeth Warren is not. John Deaton is a pro-Bitcoin, pro-crypto, and pro-business candidate; Elizabeth Warren is not. She is a lawmaker who can’t pass a law. She is a celebrity over results. Politician over leader. Form over substance.

The Winklevoss twins assert that Senator Warren’s regulatory stance has negatively impacted the cryptocurrency industry. They have accused Warren of using the government to target the crypto industry through debanking and other forms of unfair enforcement.

According to the twins, the feud began during the 2020 presidential campaign when Biden needed Warren’s support to secure the nomination. In exchange, he gave her veto power over his regulatory agency nominees, effectively giving her significant influence over the US economy.

This gave Warren significant power to shape regulatory agencies and control them from behind the scenes. As a result, the heads of these agencies became her puppets, leading to the emergence of the Federal Deposit Insurance Corporation’s (FDIC) Operation Chokepoint 2.0, which pressures banks not to support legal crypto businesses. They also argue that under Warren’s influence, the SEC has launched numerous investigations and taken legal actions against crypto firms.

Ripple Labs Sends $1M Donation to Deaton’s Campaign

Ripple Labs also donated $1 million to John Deaton’s Senate campaign In May 2024. The donation was made to the Commonwealth Unity Fund, a super political action committee (PAC) founded by pro-crypto attorney James Murphy, also known as MetaLawMan. Murphy emphasized that this election is critical for the future of the crypto industry. He encouraged the crypto community, especially XRP holders, to contribute to the Commonwealth Unity Fund and support Deaton.

Last month, the Winklevoss twins endorsed former President Donald Trump and donated a total of $2 million to his presidential campaign. However, this amount exceeded the $844,600 limit for individual political contributions. Therefore, the extra $155,400 from each donation was refunded to the Winklevoss twins. In recent months, Trump has positioned himself as the pro-crypto presidential candidate despite previously criticizing digital assets.