Gemini Founders Donate $4.9M to Crypto Super PAC
Gemini founders Cameron and Tyler Winklevoss have made a contribution of $4.9 million to Fairshake, a crypto super political action committee (PAC), according to federal filings. The PAC has received significant funding from key players in the crypto industry, including a16z, Coinbase, and Ripple Labs. This contribution highlights the support within the crypto sector for advancing initiatives and responsible regulation in the industry.
The Winklevoss Twins’ Support for Crypto
Each of the Winklevoss Twins has donated $2.45 million to the PAC, demonstrating their commitment to the growth and development of the crypto industry. Cameron Winklevoss expressed his belief on Twitter that regulators cannot kill crypto, drawing parallels with the early days of the internet when regulation could have stifled its potential.
Regulation would have killed the Internet. But thankfully, lawmakers and regulators didn’t know what it would become. And regulation would have killed crypto. But thankfully, regulators and lawmakers can’t kill it, no matter how hard they try.
— Cameron Winklevoss (@cameron) February 18, 2024
Supporting Pro-Crypto Politicians
Fairshake has received donations from various crypto firms to back pro-crypto politicians in response to increased scrutiny from US lawmakers. Around 18 senators in the United States are supportive of crypto, while approximately 30 senators are opposed to it. Senator Elizabeth Warren has been particularly critical of the industry, raising concerns about money laundering and terrorist financing. Despite these challenges, the crypto community continues to rally behind politicians who advocate for the growth and development of the industry.
Hot Take: Crypto Community’s Political Engagement
The Winklevoss Twins’ substantial donation to Fairshake demonstrates their commitment to shaping the future of the crypto industry through political engagement. By supporting pro-crypto politicians, they aim to ensure responsible regulation and foster an environment that enables innovation and growth. The involvement of key players in the industry highlights the determination of the crypto community to protect and advance their interests in the face of regulatory challenges. With ongoing debates surrounding crypto regulation, it is crucial for crypto enthusiasts like you to stay informed and actively support politicians who align with your vision for the industry’s future.
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