- Winklevoss twins each donated $2.45 million to pro-crypto PAC Fairshake, bringing its total war chest to over $70 million
- Fairshake aims to support political candidates who want to make the US a hub for crypto innovation and opposes those viewed as anti-crypto
- Donations come ahead of 2024 US elections where crypto regulation expected to be a major issue, with Fairshake seeking to influence outcome
The Gemini co-founders Tyler and Cameron Winklevoss have donated nearly $5 million to the crypto-focused Fairshake super political action committee (PAC). This brings the PAC’s war chest to over $70 million to support crypto-friendly candidates in upcoming US elections.
Winklevoss Twins Each Donate $2.45 Million
According to Federal Election Commission (FEC) filings, the Winklevoss twins each donated $2.45 million to Fairshake on February 20th. This comes on top of several other large donations from crypto industry players like Kraken, Electric Capital Partners, and Blockchain Capital.
Fairshake Aims to Support Crypto Innovation
Fairshake describes itself as backing candidates who want to make the US a global hub for innovators building the next generation of the internet. This support is seen as critical with increased regulatory scrutiny facing the crypto industry after high-profile collapses.
Targeting Anti-Crypto Candidates
On February 13, it was revealed Fairshake spent $3.6 million opposing California Senate candidate Katie Porter, who has expressed anti-crypto views. The group aims to fight over-regulation by supporting crypto-friendly candidates across the political spectrum.
2024 US Election Looms
The donations come as the 2024 US elections approach in November. All 435 House seats, 33 Senate seats, and the presidency itself will be up for grabs. Crypto regulation is expected to be a hot topic during the campaigns.
With tens of millions in funding from crypto industry leaders, Fairshake is gearing up to be an influential force in the upcoming US elections. Its spending so far signals an aggressive stance against anti-crypto candidates, as debates around digital asset legislation heat up. The outcome of these races could shape crypto regulation for years to come.
