The tech entrepreneur described the incumbent Elizabeth Warren’s regulatory authority over the Biden administration as a “Faustian bargain.”
On July 18, Tyler Winklevoss, the co-founder of Winklevoss Capital and Gemini, disclosed a $500,000 contribution to the Senate campaign of attorney John Deaton.
The investor and entrepreneur presented his argument in a lengthy social media thread highly critical of the incumbent, Elizabeth Warren. He referred to the Massachusetts Senator as the “chief architect” behind the Biden administration’s assault on the crypto industry.
Winklevoss asserted that President Joe Biden granted Elizabeth Warren, a senior member of the Democratic Party, veto power over his regulatory nominees in exchange for her endorsement of his 2020 presidential campaign.
According to Winklevoss, this granted Warren the extraordinary ability to influence regulatory agencies and manipulate the situation behind the scenes. Consequently, the leaders of these agencies were effectively her puppets, and the Federal Deposit Insurance Corporation (FDIC) implemented Operation Chokepoint 2.0.
Winklevoss wrote, “Crypto has the potential to level the financial playing field and promote financial inclusion, fairness, and freedom for all,” before returning his focus 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
Cynthia Lummis, a Wyoming senator and a longstanding supporter of the crypto industry, recently endorsed Ian Cain for the position of Senator for Massachusetts. She emphasized Cain’s comprehension of both the blockchain and contemporary political issues.
Cain co-founded Qubic Labs, which invests in start-ups and tech entrepreneurs specializing in finance and government applications. Qubic Labs’ LinkedIn page indicates that the organization is enthusiastic about utilizing blockchain and other emerging technologies.
Ripple Labs sends $1 million donation to Deaton’s campaign
Ripple Labs contributed $1 million to Deaton’s Senate campaign in May 2024. The Senate candidate has a longstanding relationship with Ripple Labs and has established himself as a prominent figure in the crypto industry by representing thousands of XRP token holders in the ongoing lawsuit launched by the Securities and Exchange Commission against Ripple Labs in 2020.
