The co-founders of cryptocurrency exchange Gemini, Tyler and Cameron Winklevoss, gave $500,000 in Bitcoin each on Thursday in an effort to “put an end to” Elizabeth Warren’s war on cryptocurrency and “unseat” her as a US senator.
They have given John Deaton, a supporter of cryptocurrencies and senate candidate, a total of $1 million. Deaton was referred to by the twins as a “pro-business, pro-crypto, and pro-Bitcoin candidate.”
“Elizabeth Warren is one of the single greatest threats to American prosperity. When it comes to crypto, she is public enemy number one,” wrote Tyler on X.
I just donated $500k in bitcoin (8 BTC) to @DeatonforSenate to help him unseat @SenWarren as a U.S. Senator. Here’s why:
— Tyler Winklevoss (@tyler) July 18, 2024
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
He went on to criticize Elizabeth Warren for spearheading the Biden Administration’s crusade against cryptocurrencies, ordering the SEC to launch ceaseless investigations, and pursuing enforcement actions against law-abiding business owners.
“She wages this unlawful war by weaponizing government agencies to attack our industry through a combination of debanking, bad faith enforcement actions, and other abuses of power.”
Recent contributions will support the Commonwealth Unity Fund, a brand-new “super” political action fund established to replace Elizabeth Warren, a vocal opponent of cryptocurrencies, with John Deaton. The rules state that these funds will be used independently to support Deaton’s campaign advertisements, even though they do not directly benefit his campaign.
The twins’ efforts to unseat Elizabeth Warren come one month after they revealed that they had given $2 million in Bitcoin to Republican presidential candidate Donald Trump.
Elizabeth Warren’s “War on Crypto” Army
Tyler claims that during the 2020 presidential campaign, President Biden and Senator Warren supported one another. “In return, President Biden gave her veto rights on all of his regulatory agency picks,” he wrote.
Tyler continued, “Elizabeth Warren then assumed command of US economic policy, and she truly owns all of Biden’s agency appointees.”
“This is why these agencies and their chairs do her bidding. She installed them and all of them depend on her for their political future.”
He also called Elizabeth Warren’s “lap dogs” for mentioning a few agency heads, such as FDIC head Martin Gruenberg and SEC chair Gary Gensler.
Before Deaton announced his candidacy, Warren said that she was “not afraid” of running against a pro-crypto opponent. In an email sent to her supporters, Warren noted that her stance against “crypto scams” has made her the target of crypto lobbyists.
Elizabeth Warren has made a strong case against the regulation of cryptocurrencies. The democrat asserted in March that the asset class “helps terrorists” and poses a threat to national security. She also criticized the push for stablecoin legislation, saying it might “amplify and entrench” the risks that stablecoins present to the US banking industry.