Tyler and Cameron Winklevoss, the co-founders of cryptocurrency exchange Gemini, have donated $1 million in Bitcoin (CRYPTO: BTC) to support John Deaton’s political campaign against Senator Elizabeth Warren (D-Mass.), seen as hostile to the cause of cryptocurrencies.
What Happened: On Thursday, Tyler Winklevoss 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 slammed for her unfriendly attitude toward the industry.
“I am supporting John Deaton because I believe he is the only candidate who can defeat Elizabeth Warren in the race for U.S. Senate in Massachusetts,” Winklevoss stated. “While Elizabeth Warren spent the last four years trying to destroy the crypto industry, John Deaton worked tirelessly to defend it as an attorney.”
Shortly after, his identical twin brother, Cameron Winklevoss, too confirmed donating $500,000 to Deaton.
See Also: Why Ethereum ETFs Mean Crypto Could Make ‘New All-Time High’ Soon
Why It Matters: This isn’t the first time the Winklevoss twins have used their cryptocurrency wealth to support political causes. In June, they donated $2 million in Bitcoin to former President Donald Trump’s 2024 election campaign, to support his bid to end the “Joe Biden Administration’s war on cryptocurrency.”
Winklevoss’s donation comes amidst a broader political debate surrounding the regulation of cryptocurrencies. Warren has been a vocal critic of the cryptocurrency industry, arguing for a regulatory framework to prevent illegal activities facilitated by cryptocurrencies.
Deaton, on the other hand, has been a vocal critic of SEC’s regulatory policies, in regards to cryptocurrencies, and has been the legal representative for XRP (CRYPTO: XRP) holders in the ongoing SEC vs Ripple Labs case.
Photo by Rich Koele on Shutterstock
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
