Winklevoss Twins Donate $1M to Deaton to Unseat Senator Warren

Gemini co-founders Cameron and Tyler Winklevoss have each contributed $500,000 worth of Bitcoin to John Deaton’s political campaign to defeat Senator Elizabeth Warren.

The Winklevoss twins, who are quite involved in the cryptocurrency business, want to back a candidate that has their cryptocurrency and business-friendly vision.

Winklevoss Twins Donate $1M to Deaton

Cameron and Tyler Winklevoss have contributed a large amount of money to John Deaton’s campaign. They contributed 16 Bitcoin worth a total of $1M to support Deaton in his bid to unseat US Senator Elizabeth Warren. This generous contribution shows the twins’ loyalty to supporting a crypto-friendly candidate they think will further the cause of the cryptocurrency industry.

John Deaton, an advocate of cryptocurrencies and a lawyer representing the crypto industry, has received endorsements from several personalities and organizations in the crypto space. Deaton has been a lawyer representing the industry and has been known to fight against what he considers as unjust actions of Senator Warren and her supporters.

Cameron and Tyler Winklevoss have been very critical of the senator indicating that she poses a great danger to the American economy thanks to her position on cryptocurrencies. 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.’

Reasons for Support to Unseat Warren

In the report, the Winklevoss twins claim that Senator Warren’s regulatory stance on the cryptocurrency market has posed a detrimental effect on the industry. They have accused Warren of using the government to persecute the crypto industry through debanking and other forms of bad faith enforcement. Specifically, they mention Gary Gensler, the head of the SEC, and Martin Gruenberg, the head of the FDIC, as examples of Warren’s influence.

Also, they posit that under Warren’s leadership, the SEC has conducted many investigations and has taken legal actions against crypto firms, while the FDIC’s Operation Choke Point 2. 0 pressures banks not to engage in legal crypto businesses.

According to the twins, this feud started during the 2020 Presidential campaign when Biden was vying for the ticket to run for the presidency and he needed the support of Warren. In return, Biden gave her veto power over his regulatory agency nominees, thereby handing the reins of the US economy to her.

They argue that this arrangement made sure that Warren’s appointees were at the helm of these agencies and implemented her orders. Consequently, with Biden’s odd to step down the presidential race rising to 80%, they seek Senator Warren to be unseated, too.

Ripple Donates $1 Million to Support Deaton

Ripple Labs also contributed a large amount to John Deaton’s Senate campaign just a month ago. The company contributed $1 million to the Commonwealth Unity Fund, a super PAC created by pro-crypto attorney James Murphy, also known as MetaLawMan. This donation was regarded as a direct response to Senator Warren’s rigid approach to cryptocurrency regulation.

According to James Murphy, this election is crucial for the further development of the crypto industry. He encouraged the crypto world and particularly the XRP holders to help fund the Commonwealth Unity Fund and support Deaton.

Similarly, Cameron and Tyler Winklevoss both contributed $1 million worth of Bitcoin to Trump’s campaign in the last week of June in support of his pro-crypto stance. However, this amount was above the $844,600 that is allowed for contributions to political campaigns by an individual. Therefore, Coingape reported that the extra $155,400 from each contribution was refunded to the Winklevoss twins.

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Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery.

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