Tyler Winklevoss, co-founder of Gemini and Winklevoss Capital, announced a $500,000 donation to attorney John Deaton's Senate campaign on July 18.
The investor and entrepreneur laid out his case in a lengthy social media thread that was highly critical of incumbent Elizabeth Warren, characterizing the Massachusetts Senator as the "chief architect" behind the Biden administration's war on the crypto industry.
Winklevoss claimed that President Joe Biden granted Elizabeth Warren, who is a senior member of the Democrat Party, veto power over his regulatory nominees in exchange for endorsing his 2020 presidential campaign.
According to Winklevoss, this gave Warren the tremendous power to shape regulatory agencies and pull the strings behind the scenes, effectively making the heads of these agencies her puppets and giving rise to the Federal Deposit Insurance Corporation's (FDIC) Operation Chokepoint 2.0. "Crypto has the capacity to level the financial playing field and promote financial inclusion, fairness, and freedom for all," Winklevoss wrote before turning his attention back to Warren.
"Elizabeth Warren should be embracing it. Instead, she has tried to kill it. Why? Because she can’t control it. Her lust for power and control is so great that she puts it ahead of the individual consumer that she pretends to care about and protect."
Senator Lummis endorses another GOP candidate
Wyoming Senator Cynthia Lummis, a longtime ally of the crypto industry, recently endorsed Ian Cain as Senator for Massachusetts, citing his understanding of both the blockchain and current political issues.
Cain is a co-founder of Qubic Labs, a firm that invests in tech entrepreneurs and start-ups focused on finance and government applications. According to Qubic Labs' Linkedin page, the firm is particularly interested in leveraging blockchain and other emerging technologies.
Ripple Labs sends $1 million donation to Deaton's campaign
In May 2024, Ripple Labs donated $1 million to Deaton's Senate campaign. The Senate candidate has a long history with Ripple Labs and made a name for himself in the crypto industry representing thousands of XRP (XRP) token holders in the ongoing lawsuit brought by the Securities and Exchange Commission against Ripple Labs in 2020.