Tyler and Cameron Winklevos said they are spending $ 21 million to continue with the impulse of cryptographic policy led by Republican legislators, counteracting a broader industry effort that carefully supports politicians of both main parties.
The mid -period elections of the United States Congress approach next year, and promise an intense political shock that could leave President Donald Trump without the republican control of the congress that helped him boost the cryptography policy beyond the finish line. The brothers are giving the Political Action Committee of the Digital Liberty Fund to support Republican candidates, they said Wednesday.
The contribution made in Bitcoin
“It will identify and support the champions of the cryptographic agenda of President Trump in the primary careers and the middle of the period elections,” said Tyler Winklevos in a publication at the social media site X. If the Democrats prevail in the partial exams, as the opposition parties often do in the middle of a presidential term, WINKLEVOS said that it will be interposed in the Way of Trump’s agenda.
“We know for their past behavior that they will resort to any tactics and tricks of bad faith that they may think (for example, false accusations, laws, etc.) to try to derail the president,” he wrote.
The brothers who direct Gemini cryptography exchange and have become a fixed element in the cryptographic events of the White House and have been publicly praised by Trump, but their support for Republicans faces the broader insistence of the industry that cryptography policy is bipartisan and that politicians of both parties must be supported while favoring the sector.
In the consequent elections of the Congress last year, the cryptographic industry erected an unprecedented campaign cash tower in the Fireshake PAC and its affiliates, surpassing other industries and even rivaling with the great PACs led by the party. The tough of campaign spending resulted in dozens of political victories that helped fill in the level of support of the industry in the current congress, which has moved quickly to support digital assets initiatives, especially the recently approved that guides and establishes national innovation for the United States. (GENIUS) Act.
Senator Tim Scott, a Republican who now presides over the Senate Banking Committee, thanked the industry for disregarding former Senator Sherrod Brown, the Ohio Democrat who previously led the committee on Tuesday in Salt Wyoming.
Fairshake, who has already accumulated $ 141 million for the next elections of the Congress after a recent increase of $ 25 million of coinbase, has divided its loyalty deliberately among the parties. The industry has long promoted the point of conversation that its objectives are not partisan, and Fairshake affiliates tried to underline that position by supporting the Democratic and Republican candidates who are willing to defend cryptography bills.
The Super Pac favored by the Winklevos brothers formed last month, according to the federal documents of the Electoral Commission, and has not yet revealed its donor activity. It is configured to spend money independently, which means that the campaigns in which it weighs cannot have any direct participation with the PAC spending decisions. That Super Pac structure also allows you to spend unlimited amounts, such as dozens of millions that the industry spent in places like Ohio and California last year.
The Winklevosses are chasing the supervision of the structure of the cryptocurrency market that “avoids the traps of the envelope, regimes of swollen licenses and an increase in the bureaucracy that only serves to drown innovation, grow the regulatory industrial complex and enhance the swamp,” Tyler wrote.
This marks a second recent development in which men behind Gemini are advancing from most of their industry. Tyler Winklevos stood up as an important critic of President Trump’s candidate to direct the Basic Products Trade Commission, Brian Quintenz. All the main cryptographic lobbying groups sent a letter to Trump on Wednesday in a vigorous support of Quintenz, who used to be a policy executive in A16Z.
