- Winklevoss twins donated $1M in Bitcoin to John Deaton, criticizing Elizabeth Warren’s stance on crypto.
- Polymarket’s data showed that Trump led with 64%, while Biden fell to fourth place with 5%.
As a seasoned financial analyst with a keen interest in the cryptocurrency market, I have closely followed the developments and investments made by key players in this dynamic industry. The recent move by the Winklevoss twins to donate $1 million in Bitcoin to John Deaton’s campaign against Senator Elizabeth Warren is an intriguing turn of events that warrants my attention.
More recently, the co-founders of Gemini, Cameron and Tyler Winklevoss, better known as the Winklevoss twins, have individually contributed $500,000 in Bitcoin (BTC) to John Deaton’s campaign, amounting to a total of 16 BTC or one million dollars.
Winklevoss twins move against Warren
This significant gesture was intended to bolster Deaton’s political efforts and confrontations with Senator Elizabeth Warren of the United States.
Citing the reasons for the same, Tyler Winklevoss took to X (formerly Twitter) and noted,
“Elizabeth Warren poses a significant danger to American wealth. In the realm of cryptocurrencies, she is considered the most formidable adversary.”
Criticizing Biden’s approach towards crypto, Winklevoss added,
“Elizabeth Warren plays a pivotal role as the primary designer and instigator of the Biden Administration’s campaign against cryptocurrencies.”
Second donation to support crypto candidates
The Winklevoss twins have made another donation, this time giving an amount equivalent to 2 million dollars in Bitcoin, following their previous contribution to Donald Trump’s campaign.
Through their continuous financial backing, they highlight their commitment to promoting candidates who advocate for a more favorable regulatory environment for cryptocurrencies.
In his tweet, the Gemini founder emphasized that Warren’s impact on policy making for cryptocurrencies is only part of the story. Her influence also significantly shapes the day-to-day operations and decision-making processes of regulatory bodies that directly affect the crypto industry.
Why Deaton and not Warren?
He additionally levied charges against Warren for utilizing government institutions to impede the cryptocurrency sector’s growth. Techniques he allegedly employed included:
“Debanking, bad faith enforcement actions, and other abuses of power.”
Drawing a comparison between the two, Winkelvoss noted,
He put it best when he said,
“John Deaton embodies the qualities of an American hero, in contrast to Elizabeth Warren. John Deaton advocates for Bitcoin, cryptocurrencies, and business growth, whereas Elizabeth Warren holds differing views.”
Echoing similar sentiments, crypto influencer, Wendy O said,
Role of crypto in the upcoming elections
The significance of cryptocurrencies in the forthcoming U.S. presidential election was emphasized, bringing to light the fact that Biden’s stance on crypto doesn’t hold much weight with crypto enthusiasts.
According to AMBCrypto’s examination of Polymarket prediction market data, Trump secured a leading 64% of the votes, while Harris obtained 22%.
While on the other hand, Biden had dropped to the fourth place with just 5% of the total votes.
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2024-07-20 08:08