Bitcoin
Why Tyler Winklevoss Endorses Deaton, Not Elizabeth Warren
Tyler Winklevoss called out Massachusetts Senator Elizabeth Warren’s campaign for “dishonesty,” citing unlawful war against the crypto industry. With this, the Gemini co-founder supported pro-XRP advocate, John Deaton.
Deaton recently secured the Republican nomination, positioning him to challenge Warren for the Massachusetts Senate seat in the upcoming US elections.
Tyler Winklevoss Slams Elizabeth Warren
Winklevoss’s post responded to an email from Elizabeth Warren’s campaign, which accused conservative, crypto-backed groups of orchestrating multi-million-dollar ad campaigns against her. Warren specifically targeted Tyler and his brother Cameron, claiming they oppose fair regulatory practices in the crypto space.
She further alleged that the brothers were financially supporting conservative groups to spread misinformation benefiting John Deaton, following his recent Republican Senate nomination.
“Elizabeth Warren’s latest campaign email couldn’t be more dishonest. She claims the crypto industry’s upset because she “called for fair regulations” when she’s been waging an unlawful war against it and the 50 million Americans who own crypto. Vote for John Deaton to end the madness,” Tyler Winklevoss wrote.
Read more: Who Are Cameron and Tyler Winklevoss? A Profile on the Twins
Tyler Winklevoss’s support for Deaton stems from his belief in crypto’s potential to democratize finance. Like many industry proponents, he believes it will promote economic freedom. His brother, Cameron, shares these beliefs, and both endorse Deaton as a champion for the cause.
In July, they donated $1 million in Bitcoin (BTC) towards Deaton’s Senatorial bid. Other contributors included Ripple Labs, which gave $1 million to the Commonwealth Unity Fund for Deaton. Both donations were to unseat Warren.
Crypto market participant Wayne Vaughan, among others, supported Winklevoss’s statement, adding that he envisions a time when Warren is out of office.
US Elections Likely Gamechanger for Crypto Regulation
In a recent interview with WBUR, John Deaton criticized Senator Elizabeth Warren for ignoring the truth in her stance on cryptocurrency regulation. He accused her of advocating for banks involved in money laundering.
Prominent figures from Warren’s own political sphere have also criticized her. Anthony Scaramucci and Mark Cuban, both Kamala Harris supporters, labeled Warren a hypocrite, accusing her of aligning with “regulatory evil” forces, including SEC Chair Gary Gensler.
“Guess who terrifies Senator Warren the most? It is the MANY Kamala Harris supporters out there–like Scaramucci & Mark Cuban –who support Deaton,” MetaLawMan wrote.
The US Securities and Exchange Commission (SEC) has stifled the crypto industry for several years. Some lawmakers have enabled these bottlenecks, with one legal expert anticipating more crypto crackdowns this month.
“Reminder that the SEC, CFTC, and other regulators have their fiscal year end on September 30. It is typical in September to see a flurry of enforcement actions as they shore up their performance reports and budget requests for Congress. It could be a busy month,” Chief Legal Officer of Variant Fund Jake Chervinsky wrote.
Read more: Crypto Regulation: What Are the Benefits and Drawbacks?
Meanwhile, the crypto community hopes the oncoming US elections will be the turnaround point. With both sides of the political divide, Republicans and Democrats alike, demonstrating inclination toward crypto, Tyler Winklevoss says it may be the determining factor.
“75% of the 50 million Americans who own crypto will be voting in November with crypto on their mind,” Tyler Winklevoss noted.
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