Gemini launches campaign finance initiative for pro-crypto candidates

The Gemini Exchange recently announced its campaign finance project to facilitate campaign contributions to pro-crypto candidates in the United States ahead of the Presidential election this November.

Gemini’s announcement followed $2 million in campaign contributions from Cameron and Tyler Winklevoss on June 20, 2024, to former President Trump’s re-election campaign.

Gemini’s social media post announcing the political donation initiative. Source: Gemini.

A scathing rebuke of Biden

Minutes before Gemini announced its campaign donation initiative, Tyler Winklevoss issued a lengthy rebuke of Joe Biden and the current administration’s hostility toward the crypto industry. “The crime is always success and the reward is always ridicule, fines, and even more red tape,” Winklevoss wrote. The entrepreneur and investor then clarified his stance even further.

“To be clear, the Biden Administration doesn’t hate success outright. Only the kind that lives outside of its control. Once it figures out how to confiscate or coerce it, the Biden Administration becomes quite enthusiastic about success, gleefully manipulating it or redistributing it in a transparent attempt to buy votes.”

Tyler Winklevoss concluded this specific criticism of the Biden administration by stating, “Over a long enough time scale, it’s easy to see how these policies will lead to the destruction of our economy and our country.”

Related: Winklevoss twins pledge $2M for Trump, claiming Biden waged war on crypto.

2024—the year of Cryptopolitik

The recent actions from the Winklevoss twins and the announcement from Gemini are the latest examples of political mobilization from the cryptocurrency industry.

Earlier in June, Coinbase’s “Stand with Crypto” political action committee (PAC) announced it reached a significant milestone by garnering 1 million advocate signatures from pro-crypto voters.

Following a recent meeting with former President Trump, industry executives from CleanSpark, Marathon Digital, and Riot Platforms, established “The Bitcoin Voter Project”—a non-profit voter education organization. The Bitcoin Voter Project is non-partisan and is not endorsing candidates, at least not yet. At this point, the goal is simply to raise awareness and educate the American public about Bitcoin (BTC).

More recently, Fairshake, a crypto super PAC, announced it accumulated $169 million in donations. Unlike The Bitcoin Voter Project, Fairshake launches political advertisements against anti-crypto politicians and political candidates.

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