Cryptocurrencies

Gemini Exchange recently announced its campaign finance plan to facilitate contributions

Gemini Exchange recently announced its campaign finance plan to facilitate campaign contributions from pro-crypto candidates in the United States ahead of next November’s presidential election.

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

A Gemini social media post announcing a political giving initiative. Source: Gemini.

A scathing reproach against Biden

Minutes before Gemini announced its campaign donation initiative, Tyler Winklevoss took a lengthy rebuke to Joe Biden and the current administration’s hostility toward the cryptocurrency industry. “Crime is always successful and the reward is always ridicule, fines and even more bureaucracy,” Winklevoss wrote. The businessman and investor then clarified his position.

“To be clear, the Biden administration is not really averse to success. Only those who live outside of his control. Once it figures out how to confiscate or coerce it, the Biden administration becomes very eager to succeed and gleefully manipulates or redistributes it. “In a transparent attempt to buy votes.”

Tyler Winklevoss concluded this specific criticism of the Biden administration by saying, “Over a long enough period of time, it is easy to see how these policies will destroy our economy and our country. »

about: The Winklevoss twins pledged $2 million to Trump, claiming Biden had launched a war on cryptocurrencies..

2024 – The year of cryptopolitics

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

Earlier in June, Coinbase’s “Stand With Cryptocurrency” political action committee (PAC) announced that it had reached a milestone by collecting one million signatures of support from pro-crypto voters.

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

Recently, Fairshake, a leading cryptocurrency political action committee, announced that it had raised $169 million in donations. Unlike the Bitcoin Voter Project, Fairshake runs political ads against anti-crypto politicians and political candidates.

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