Gemini Exchange has set the stage for a groundbreaking campaign finance initiative, designed to boost pro-crypto candidates in the United States as the Presidential election looms this November.

This bold move follows a hefty $2 million donation from Gemini founders Cameron and Tyler Winklevoss to former President Trump’s re-election campaign on June 20, 2024, signaling their commitment to supporting political allies of the crypto industry.

Gemini’s social media post announcing the political donation initiative. Source: Gemini.

Gemini’s announcement came with a splash on social media, laying out their ambitious plans to influence the political landscape. The Winklevoss twins are clearly stepping up their game, highlighting the increasing political clout of the cryptocurrency industry.

In a fiery statement just minutes before the announcement, Tyler Winklevoss lambasted President Joe Biden’s administration for its perceived hostility toward crypto. He declared that

“The crime is always success and the reward is always ridicule, fines, and even more red tape.”

Winklevoss accused the administration of only embracing success when it can control or manipulate it for political gain.

2024—the year of Cryptopolitik

The Winklevoss twins’ initiative with Gemini is part of a larger wave of political activism sweeping through the crypto world.

Earlier this month, Coinbase’s “Stand with Crypto” PAC celebrated a significant milestone, rallying 1 million pro-crypto advocates to their cause.

Following a high-profile meeting with former President Trump, executives from CleanSpark, Marathon Digital, and Riot Platforms launched “The Bitcoin Voter Project,” a non-partisan voter education organization. Their mission: to inform the American public about Bitcoin without endorsing any candidates—at least, for now.

Adding to the momentum, Fairshake, a crypto super PAC, has amassed an impressive $169 million in donations. Unlike The Bitcoin Voter Project, Fairshake is taking a more aggressive stance, running political ads aimed squarely at anti-crypto politicians.

With these bold moves, the crypto industry is making it clear: they’re ready to play hardball in the political arena. The 2024 election could very well be a turning point, marking the rise of crypto influence in American politics.