Gemini, a famous cryptocurrency exchange, suddenly announced funding for former President Donald Trump's re-election campaign, just days after founder brothers Cameron and Tyler Winklevoss contributed $2 million to June 20.
The move marks a sharp rise in “Cryptopolitik” (cryptopolitics) in the US, as the industry becomes increasingly actively involved in the political process, lobbying and influencing related policies.
Prior to the funding announcement, Tyler Winklevoss publicly criticized President Biden's administration for its hostile policies toward cryptocurrency, accusing the current administration of seeking to control and redistribute the industry's success. He warned that these policies would harm the US economy.
“The crime is always success and the reward is always ridicule, fines and even more barriers,” Winklevoss wrote. He believes that the Biden administration does not hate success completely, but only hates successes that are beyond their control. As they found ways to confiscate or coerce, the Biden administration became enthusiastic about success, gleefully manipulating or redistributing it for vote-buying purposes. Winklevoss concluded that these policies would lead to the destruction of the American economy and nation over a long period of time.
The move by the Winklevoss brothers is the clearest example of the wave of political lobbying from the cryptocurrency industry. In early June, Coinbase's “Standing for Crypto” Political Action Committee (PAC) collected 1 million signatures of support from voters.
At the same time, the leaders of CleanSpark, Marathon Digital and Riot Platforms, after meeting with Mr. Trump, established the “Bitcoin Voters Project” – a non-profit organization to raise awareness about Bitcoin to the public. America.
More recently, Fairshake, a cryptocurrency super PAC, announced it had accumulated $169 million in contributions. Unlike The Bitcoin Voter Project, Fairshake launches political ads against politicians and candidates who take anti-cryptocurrency stances. This difference in strategy shows the diversity of institutional approaches in the cryptocurrency industry.
The increasing influence of cryptocurrencies in American politics reflects the increasingly important role this sector plays in the economy. 2024 is predicted to be the year of “Cryptopolitik” when the industry actively participates in the political process, lobbying and influencing relevant policies.
With increasing community participation and growing financial resources, the cryptocurrency industry is expected to become a formidable political force in the US in the future.