Tyler Winklevoss lashed out at SEC chair Gary Gensler and FDIC Chair Martin Gruenberg while referring to both of them as “lapdogs and attack dogs” who leveraged the power of their agencies to push Warren’s anti-crypto policies.
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
2 mins read
On Thursday, July 18, owners of crypto exchange Gemini Winklevoss twins announced $1 million in donations in Bitcoins to a super PAC supporting pro-XRP lawyer John Deaton who will be fighting against Senator Warren.
This is the second major donation from billionaire crypto investors within a month’s time. Last month, the Winklevoss twins donated a staggering $2 million to GOP Presidential nominee Donald Trump. As per the announcement, the latest donations will go to the Commonwealth Unity Fund, a newly launched “super” political action fund with the goal of supporting Deaton.
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-BusinessAnd he will put an end to Elizabeth Warren’s war on crypto. Onward! https://t.co/JgOF6eBTkc
— Cameron Winklevoss (@cameron) July 18, 2024
Speaking on the development, PAC’s fundraising lead, James Murphy, told Fox Business:
“I’m extremely grateful to management at Ripple and to Tyler and Cameron Winklevoss for their support of the Commonwealth Unity Fund. I think they are helping open people’s eyes to the reality that John Deaton can absolutely win in November.”
Deaton had no comment due to federal election laws requiring a strict legal separation, known as a “Chinese Wall”, between a candidate and supporting super PACs.
“Elizabeth Warren is one of the single greatest threats to American prosperity. When it comes to crypto, she is public enemy number one,” said Tyler Winklevoss in a post on Thursday.
Senator Elizabeth Warren has introduced legislation aimed at preventing the use of cryptocurrencies and their underlying blockchain technology in terrorism or illicit finance schemes. The crypto industry views this bill as a significant threat to its growth in the US, concerned that stringent regulations could drive crypto firms to move offshore.
While speaking in favor of Deaton, Tyler said that Warren’s so-called includes SEC chair Gary Gensler and FDIC Chair Martin Gruenberg while referring to both of them as “lapdogs and attack dogs” who leveraged the power of their agencies to push Warren’s anti-crypto policies.
Despite her unpopularity within the crypto community, Warren is still favored to win in November. As an influential progressive with the Biden Administration’s support, she enjoys strong backing from many in the blue state of Massachusetts.
Interestingly, even crypto market veterans like Vitalik Buterin recently spoke against favoring crypto donations, adding that it promotes authoritarian people to power.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
