In preparation for the upcoming Presidential election in November, the Gemini Exchange has unveiled its campaign finance project aimed at supporting pro-crypto candidates in the United States. This announcement comes shortly after Cameron and Tyler Winklevoss contributed $2 million to former President Trump’s re-election campaign on June 20, 2024.
Tyler Winklevoss expressed his discontent with the current administration’s negative attitude towards the crypto industry just minutes before Gemini’s campaign donation initiative was revealed. In a detailed statement, he criticized Joe Biden and outlined his concerns about the potential consequences of the administration’s policies on the economy and the country as a whole.
These recent developments indicate a growing trend of political involvement within the cryptocurrency industry. Coinbase’s “Stand with Crypto” political action committee (PAC) achieved a significant milestone in June by gathering 1 million signatures from pro-crypto voters. Additionally, executives from CleanSpark, Marathon Digital, and Riot Platforms established “The Bitcoin Voter Project” after a meeting with former President Trump. This non-profit organization aims to educate the American public about Bitcoin without endorsing any specific candidates.
On the other hand, Fairshake, a crypto super PAC, has taken a more aggressive approach by accumulating $169 million in donations and using them to launch political advertisements against anti-crypto politicians and candidates.
Meanwhile, in Senegal, Bitcoin has gained popularity, prompting the African country to adopt the cryptocurrency for various purposes.