TL;DR
- Gemini founders, the Winklevoss Twins, have donated $4.9 million to the crypto super PAC, Fairshake, marking a significant show of support for crypto-friendly initiatives.
- Fairshake has been successful in its fundraising efforts, accumulating significant contributions from key players in the crypto industry, to support “pro-crypto” candidates in the forthcoming 2024 US elections.
- The Winklevoss Twins’ donation underscores the growing influence of the crypto industry in politics and its commitment to fostering a regulatory environment that supports innovation and growth.
Gemini founders, Cameron and Tyler Winklevoss, have made a significant contribution to the cryptocurrency industry by donating $4.9 million to the crypto super political action committee (PAC), Fairshake. The donation was revealed in federal filings and marks a substantial show of support for crypto-friendly initiatives.
Fairshake, a crypto super PAC, has been raising funds from key players in the crypto industry, including venture capitalists and major firms like a16z, Coinbase, and Ripple Labs. In January alone, the committee received $6.3 million. The Winklevoss Twins’ contribution, each donating $2.45 million, is a clear indication of the crypto sector’s commitment to furthering initiatives within the industry and spearheading paths toward responsible regulation.
Cameron Winklevoss, in a recent tweet, emphasized that regulators cannot kill crypto, no matter how hard they try. This sentiment reflects the growing confidence in the resilience of the crypto industry despite regulatory challenges.
Winklevoss Twins Lead the Way with $4.9 Million Contribution
Fairshake’s fundraising efforts have been successful, with significant contributions from other industry players. Kraken crypto exchange’s parent company, Payward Inc., donated $750,000, and Electric Capital Partners contributed $500,000. In December 2023, Fairshake accumulated $78 million from crypto leaders including Brian Armstrong from Coinbase, Circle, and more. These funds are intended to support “pro-crypto” candidates in the forthcoming 2024 US elections.
The Winklevoss Twins, known for their investments in dozens of startups, have shown increasing interest in riskier investments as their enthusiasm for crypto grows. Their support for Fairshake is a testament to their belief in the potential of the crypto industry and its need for supportive regulation.
Crypto firms have stepped up political donations to show their support for pro-crypto politicians, especially at a time when the industry is under pressure from a US government crackdown. Fairshake seeks to dispute this by backing crypto-friendly candidates from both sides of the political aisle in the United States.
The Winklevoss Twins’ donation to Fairshake is a significant move that underscores the growing influence of the crypto industry in politics. It also highlights the industry’s commitment to fostering a regulatory environment that supports innovation and growth.
