Tyler and Cameron Winklevossthe co-founders of the cryptocurrency exchange Geminihave donated $1 million in Bitcoin BTC/USD support By John Deaton political campaign against the senator Elizabeth Warren (D-Mass.), seen as hostile to the cryptocurrency cause.
What happened: Thursday, Tyler Winklevoss Ohio Republican Senator Donald Trump took to X to announce his $500,000 donation to Deaton’s campaign. He expressed his support for Deaton, praising him as a pro-Bitcoin, pro-cryptocurrency, and pro-business candidate, in stark contrast to Senator Warren, whom he criticized for her hostile attitude toward the industry.
“I am supporting John Deaton because I believe he is the only candidate who can defeat Elizabeth Warren in the US Senate race in Massachusetts,” Winklevoss said. “While Elizabeth Warren spent the last four years trying to destroy the cryptocurrency industry, John Deaton worked tirelessly to defend her as a lawyer.”
Shortly after, his identical twin brother, Cameron Winklevoss, also confirmed the $500,000 donation to Deaton.
See also: Why Ethereum ETFs mean crypto could soon hit a “new all-time high”
Because it is important: This is not the first time the Winklevoss twins have used their cryptocurrency wealth to support political causes. In June, they donated $2 million worth of bitcoin to former President Donald Trump's 2024 election campaign, to support his bid to end the Biden administration's “war on crypto.”
Winklevoss’ donation comes amid a broader political debate surrounding cryptocurrency regulation. Warren has been an outspoken critic of the cryptocurrency industry and has advocated for a regulatory framework that would prevent illegal activities facilitated by cryptocurrencies.
Deaton, on the other hand, has been a vocal critic of the SEC's regulatory policies regarding cryptocurrencies, and has been the legal representative of XRP XRP/USD Current SEC headlines vs. Vibe Laboratories case.
Photo by Rich Koele on Shutterstock
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