The Winklevoss twins, famous for establishing the Gemini crypto exchange, have decided to back crypto-friendly candidates in the upcoming US elections by making significant financial contributions.
Each brother donated $2.45 million to the Fairshake super PAC, resulting in a total contribution of $4.9 million.
Fairshake, a prominent player in the crypto-political arena, boasts a substantial war chest of $72.8 million. Other notable donors include Kraken ($750,000), Electric Capital ($500,000), and Andreessen Horowitz ($14 million combined).
This infusion of funds bolsters Fairshake’s mission to support candidates who are “dedicated to making the United States the hub for innovators shaping the future of the internet.” With the crypto industry facing regulatory scrutiny and recent market instability, Fairshake aims to counter potential over-regulation by backing politicians who are supportive of crypto.
Their largest campaign expenditure to date ($3.6 million) is directed towards California Senate candidate Katie Porter, known for her critical views on crypto. This underscores the significant influence super PACs can wield, a concern voiced by Senator Elizabeth Warren, who worries that such groups could unduly influence elections.
