Gemini’s Winklevoss Twins Donate $1M to “Unseat” US Sen. Elizabeth Warren

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Sujha Sundararajan

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Sujha Sundararajan

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July 19, 2024 04:16 EDT

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Crypto exchange Gemini’s co-founders Tyler and Cameron Winklevoss, on Thursday, donated $500,000 each in Bitcoin to “unseat” Elizabeth Warren as a US Senator and “put an end to” her war on crypto.

They have donated a total of $1 million to John Deaton, a crypto advocate and senate candidate. The twins called Deaton as “pro-Bitcoin, pro-crypto, and pro-business 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:

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

— Tyler Winklevoss (@tyler) July 18, 2024

He further slammed Elizabeth Warren for driving Biden Administration’s war on cryptocurrencies and directing the SEC to conduct non-stop investigations and bringing bad faith and enforcement actions on good industry players.

“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.”

The latest donations will go to the Commonwealth Unity Fund, a new “super” political action fund created to replace crypto critic Elizabeth Warren with John Deaton. These funds, although not benefit Deaton’s campaign directly, will be used independently to support his campaign ads, the rules noted.

The donations to dethrone Elizabeth Warren from the twins arrives a month after they announced a $2 million Bitcoin donation to GOP presidential nominee Donald Trump.

Elizabeth Warren’s “War on Crypto” Army

According to Tyler, Warren and President Biden had a mutual support over the 2020 presidential campaign. “In return, President Biden gave her veto rights on all of his regulatory agency picks,” he wrote.

Elizabeth Warren, then took control of America’s economic policy and all of Biden’s agency appointees are really hers, Tyler added.

“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 mentioned some of the agency heads including the SEC chair Gary Gensler, FDIC head Martin Gruenberg, calling them as Elizabeth Warren’s “lap dogs.”

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 been highly vocal against cryptos and its regulation. In March, the democrat claimed that the asset class threatens national security and “helps terrorists.” She also slammed stablecoin bill push, arguing it could “amplify and entrench” risks they pose to the American banking sector.