Tyler and Cameron Winklevoss, the founders of crypto exchange Gemini, have publicly declared significant financial support for John Deaton, a lawyer known for his involvement in the XRP community. On the evening of 18 July, Tyler Winklevoss announced via X that he had donated $500,000 in Bitcoin (equivalent to 8 BTC) to Deaton’s senatorial campaign to unseat Senator Elizabeth Warren. His twin brother Cameron Winklevoss doubled this donation, bringing the total to $1 million (16 BTC).
Tyler Winklevoss explained via X the decision to support Deaton against Warren, who he called “public enemy number one” for the crypto community. He criticizes Senator Warren for her role in the “war on crypto” waged through aggressive regulatory oversight and enforcement actions.
Tyler outlined the origins of Senator Warren’s anti-crypto stance, tracing it back to the 2020 presidential campaign. According to Tyler, “The madness began during the 2020 Presidential campaign, when President Biden sought Senator Warren’s support for his presidential bid.”
In return, President Biden gave her veto power over all the regulatory agencies he selected.” He describes this agreement as a “Faustian bargain” that resulted in President Biden ceding control of American economic policy to Elizabeth Warren. Tyler accused Senator Warren of using this power to orchestrate a campaign against the crypto industry through her influence on regulators.
He stated, “This is Elizabeth Warren’s army and how she assembled it. It includes corrupt, immoral, and odious characters like Gary Gensler, the chairman of the SEC, and Martin Gruenberg, the chairman of the FDIC. These unelected bureaucrats are simultaneously her lap dogs and attack dogs. They wield the power of these agencies on her behalf and at her command.”
Tyler contrasts Warren’s regulatory approach to John Deaton’s professional background and pro-crypto stance. Deaton, who has been a vocal advocate for the crypto sector, particularly in legal matters involving XRP, is a “pro-crypto” and “pro-business” personality who embodies the qualities the Winklevoss twins believe are essential to supporting innovation and economic growth in America.
He also highlighted Deaton’s military service and legal defense of the crypto industry as fundamental to his suitability for the Senate, presenting him as a stark contrast to Warren, who Tyler criticizes for her allegedly overzealous regulatory measures and a perceived detachment from fundamental American economic values.
Cameron Winklevoss, reiterating his brother’s position, also announced his donation via X, emphasizing the urgency and need to support Deaton to bring about change in the Senate that is more aligned with the interests of the crypto community. His terse endorsement emphasized Deaton’s pro-crypto, pro-business credentials and explicitly positioned him as the candidate to end what he called “Elizabeth Warren’s war on crypto”.
At press time, XRP was trading at $0.54.
Featured image from X, chart from Tradingview.com
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