#winklevoss — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #winklevoss, aggregated by home.social.
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CFTC Mulls Reversal on Winklevoss Crypto Fine
CFTC staff are talking about ending a crypto fine for a Winklevoss business. This follows new rules on cooperation. Find out what it means for crypto firms.
#CFTC, #Winklevoss, #CryptoFine, #Regulation, #FinancialNews
https://newsletter.tf/cftc-reconsiders-winklevoss-crypto-fine-new-rules/
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The CFTC might remove a fine for a Winklevoss-linked crypto company. This comes after they released new guidelines on cooperation with regulators just 2 days ago.
#CFTC, #Winklevoss, #CryptoFine, #Regulation, #FinancialNews
https://newsletter.tf/cftc-reconsiders-winklevoss-crypto-fine-new-rules/ -
📢 Los gemelos #Winklevoss mueven 130 millones en #Bitcoin y encienden las alarmas del mercado. 👇
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"A cryptocurrency firm run by the billionaire Winklevoss twins was facing a punishing federal lawsuit. After Donald J. Trump returned to the White House, the Securities and Exchange Commission moved to freeze the case.
The S.E.C. had also sued Binance, the world’s largest crypto exchange, but then dropped the case altogether under the new administration.
And after a yearslong legal fight with Ripple Labs, the new S.E.C. tried to reduce a court-ordered penalty against the crypto firm, seeking to soften the blow of the punishment.
The agency’s pullback from these cases illustrated a wide-ranging transformation in the federal government’s treatment of the crypto industry during President Trump’s second term, a New York Times investigation has found.
It is unheard-of for the agency to retreat from a swath of lawsuits against a single industry. And yet, The Times found that the S.E.C. had eased up on more than 60 percent of the crypto cases that were ongoing when Mr. Trump returned to the White House, moving to pause litigation, lessen penalties or outright dismiss the cases.
The dismissals were particularly unusual, The Times found. Under Mr. Trump, S.E.C. dismissals came at a far higher rate for crypto firms than other cases.
And although the particulars of the crypto lawsuits differed, many of these firms had something in common: financial ties to Mr. Trump, the self-described crypto president."
#USA #Trump #Crypto #Cryptocurrencies #Kleptocracy #Plutocracy #SEC #Binance #Winklevoss #RippleLabs
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"A cryptocurrency firm run by the billionaire Winklevoss twins was facing a punishing federal lawsuit. After Donald J. Trump returned to the White House, the Securities and Exchange Commission moved to freeze the case.
The S.E.C. had also sued Binance, the world’s largest crypto exchange, but then dropped the case altogether under the new administration.
And after a yearslong legal fight with Ripple Labs, the new S.E.C. tried to reduce a court-ordered penalty against the crypto firm, seeking to soften the blow of the punishment.
The agency’s pullback from these cases illustrated a wide-ranging transformation in the federal government’s treatment of the crypto industry during President Trump’s second term, a New York Times investigation has found.
It is unheard-of for the agency to retreat from a swath of lawsuits against a single industry. And yet, The Times found that the S.E.C. had eased up on more than 60 percent of the crypto cases that were ongoing when Mr. Trump returned to the White House, moving to pause litigation, lessen penalties or outright dismiss the cases.
The dismissals were particularly unusual, The Times found. Under Mr. Trump, S.E.C. dismissals came at a far higher rate for crypto firms than other cases.
And although the particulars of the crypto lawsuits differed, many of these firms had something in common: financial ties to Mr. Trump, the self-described crypto president."
#USA #Trump #Crypto #Cryptocurrencies #Kleptocracy #Plutocracy #SEC #Binance #Winklevoss #RippleLabs
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#EpsteinFiles: not only did Jeffrey #Epstein fund the entire bitcoin development team at #MIT Media Lab from 2015-????, he took a special interest in Madars Virza, co-founder of the "privacy coin" ZCash (#ZEC).
#ZCash “fixes” the main issue with bitcoin, at least for people like Jeffrey Epstein. Zcash transactions are encrypted / private and therefore nothing about them is publicly visible in a block explorer¹ (and therefore any suspicious large transactions would not even be noticed).
ZCash, (unlike #Monero / #XMR, its prime competitor in the “privacy coin” space), is not an open source project. It’s privatized secret money created by a corporation. That corporation (Electric Coin Co.) also just so happens to have been funded by DCG, the crypto VC fund Larry Summers sat on the board of for 7 years after being introduced to Brock Pierce by Jeffrey Epstein. ZCash is actually one of #DCG’s flagship investments 🤔
Hard not to think that Epstein wasn’t meeting with #MadarsVirza to make a few “feature requests” that would make #ZCash more useful for people like Jeffrey #Epstein.
(it’s also worth at least mentioning that all of the cryptoverse’s biggest cretins like the #Winklevoss twins, Naval, Emperor Shillbertine, etc. started pushing ZCash HARD a month or two ago as the “true” bitcoin, but that’s probably a subject for a separate post)
¹ though a lot of people think the transactions are visible to #ElectricCoinCo via a backdoor, which is v. different from Monero. i haven't done the work to have an opinion on whether that's true or not, but a lot of bros call ZCash some variant of "CIAcoin"
#crypto #medialab #privacy #EpsteinFiles #madars #Virza #blockchain #LarrySummers #uspol #BarrySilbert #cryptocurrency #JeffreyEpstein
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#EpsteinFiles: not only did Jeffrey #Epstein fund the entire bitcoin development team at #MIT Media Lab from 2015-????, he took a special interest in Madars Virza, co-founder of the "privacy coin" ZCash (#ZEC).
#ZCash “fixes” the main issue with bitcoin, at least for people like Jeffrey Epstein. Zcash transactions are encrypted / private and therefore nothing about them is publicly visible in a block explorer¹ (and therefore any suspicious large transactions would not even be noticed).
ZCash, (unlike #Monero / #XMR, its prime competitor in the “privacy coin” space), is not an open source project. It’s privatized secret money created by a corporation. That corporation (Electric Coin Co.) also just so happens to have been funded by DCG, the crypto VC fund Larry Summers sat on the board of for 7 years after being introduced to Brock Pierce by Jeffrey Epstein. ZCash is actually one of #DCG’s flagship investments 🤔
Hard not to think that Epstein wasn’t meeting with #MadarsVirza to make a few “feature requests” that would make #ZCash more useful for people like Jeffrey #Epstein.
(it’s also worth at least mentioning that all of the cryptoverse’s biggest cretins like the #Winklevoss twins, Naval, Emperor Shillbertine, etc. started pushing ZCash HARD a month or two ago as the “true” bitcoin, but that’s probably a subject for a separate post)
¹ though a lot of people think the transactions are visible to #ElectricCoinCo via a backdoor, which is v. different from Monero. i haven't done the work to have an opinion on whether that's true or not, but a lot of bros call ZCash some variant of "CIAcoin"
#crypto #medialab #privacy #EpsteinFiles #madars #Virza #blockchain #LarrySummers #uspol #BarrySilbert #cryptocurrency #JeffreyEpstein
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𝗪𝗶𝗻𝗸𝗹𝗲𝘃𝗼𝘀𝘀-𝗯𝗿𝗼𝗲𝗿𝘀 𝗿𝗲𝗸𝗲𝗻𝗲𝗻 𝗼𝗽 𝗴𝗼𝘂𝗱𝗲𝗻 𝘁𝗶𝗷𝗱𝗲𝗻 𝘃𝗼𝗼𝗿 𝗯𝗶𝘁𝗰𝗼𝗶𝗻: '𝗚𝗼𝘂𝗱 2.0'
Bitcoin bestaat al een tijdje, maar het is nog vroeg, en de digitale munt zal alleen maar meer waard worden. Dat zeggen de crypto-broertjes Cameron en Tyler Winklevoss in gesprek met RTL Z. "We geloven dat bitcoin kan groeien naar een waarde van 1 miljoen dollar in de komende vijf tot...
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𝗪𝗶𝗻𝗸𝗹𝗲𝘃𝗼𝘀𝘀-𝗯𝗿𝗼𝗲𝗿𝘀 𝗿𝗲𝗸𝗲𝗻𝗲𝗻 𝗼𝗽 𝗴𝗼𝘂𝗱𝗲𝗻 𝘁𝗶𝗷𝗱𝗲𝗻 𝘃𝗼𝗼𝗿 𝗯𝗶𝘁𝗰𝗼𝗶𝗻: '𝗚𝗼𝘂𝗱 2.0'
Bitcoin bestaat al een tijdje, maar het is nog vroeg, en de digitale munt zal alleen maar meer waard worden. Dat zeggen de crypto-broertjes Cameron en Tyler Winklevoss in gesprek met RTL Z. "We geloven dat bitcoin kan groeien naar een waarde van 1 miljoen dollar in de komende vijf tot...
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ZEC is back above $500 as institutional interest rises! 📈
Cypherpunk Technologies, backed by Winklevoss Capital, plans to invest over $50M in Zcash! We cover the details here: https://auriccrypto.com/altcoins/zec/zcash-reclaims-500-as-winklevoss-backed-cypherpunk-makes-50m-bet/
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pretty much every single major #crypto trading platform crashed during friday's market panic, leaving users unable to exit their positions when it mattered most and leading to billions in dollars in losses.
- #Binance
- #Coinbase
- #Kraken
- #RobinHood
- #Gemini (#Winklevoss twins)all went down... and this isn't the first time. coinbase in particular is infamous for crashing pretty much every time there's a major market move.
imagine if every time there was a turbulent day in the stock market vanguard, schwab, fidelity, robinhood (natch), etc. all just crashed and stopped letting anyone trade at exactly the moment it matters most... and that's what the crypto market is.
https://finance.yahoo.com/news/binance-faces-intense-backlash-over-111144052.html?guccounter=1
#economics #finance #econ #cryptocurrency #uspol #memecoin #memecoins
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pretty much every single major #crypto trading platform crashed during friday's market panic, leaving users unable to exit their positions when it mattered most and leading to billions in dollars in losses.
- #Binance
- #Coinbase
- #Kraken
- #RobinHood
- #Gemini (#Winklevoss twins)all went down... and this isn't the first time. coinbase in particular is infamous for crashing pretty much every time there's a major market move.
imagine if every time there was a turbulent day in the stock market vanguard, schwab, fidelity, robinhood (natch), etc. all just crashed and stopped letting anyone trade at exactly the moment it matters most... and that's what the crypto market is.
https://finance.yahoo.com/news/binance-faces-intense-backlash-over-111144052.html?guccounter=1
#economics #finance #econ #cryptocurrency #uspol #memecoin #memecoins
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Gemini Shares Slide 6%, Extending Post-IPO Slump to 24% - Gemini Space Station (GEMI), the crypto exchange founded by Cameron and Tyler Winklevoss,... - https://www.coindesk.com/markets/2025/09/16/gemini-shares-slide-6-extending-post-ipo-slump-to-24 #winklevoss #markets #gemini #news #ipo
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Gemini Shares Slide 6%, Extending Post-IPO Slump to 24% - Gemini Space Station (GEMI), the crypto exchange founded by Cameron and Tyler Winklevoss,... - https://www.coindesk.com/markets/2025/09/16/gemini-shares-slide-6-extending-post-ipo-slump-to-24 #winklevoss #markets #gemini #news #ipo
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Gemini Crypto Exchange IPO Pops 14% as Winklevoss Twins Predict $1M Bitcoin - Gemini Space Station, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss... - https://www.coindesk.com/markets/2025/09/13/gemini-crypto-exchange-ipo-pops-14-as-winklevoss-twins-predict-usd1m-bitcoin #winklevoss #markets #bitcoin #gemini #news
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Gemini Crypto Exchange IPO Pops 14% as Winklevoss Twins Predict $1M Bitcoin - Gemini Space Station, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss... - https://www.coindesk.com/markets/2025/09/13/gemini-crypto-exchange-ipo-pops-14-as-winklevoss-twins-predict-usd1m-bitcoin #winklevoss #markets #bitcoin #gemini #news
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#Gemini, the #Winklevoss brothers’ #cryptocurrency #exchange, saw its shares rise 14% on its Nasdaq debut, valuing the company at $3.3 billion. The company, founded in 2014, offers a range of crypto-related services and has held over $21 billion in assets. Despite posting net losses in 2024 and the first half of 2025, the Winklevoss brothers remain optimistic about bitcoin’s future. https://www.cnbc.com/2025/09/12/gemini-the-winklevoss-crypto-exchange-pops-in-nasdaq-debut.html?eickercrypto.com #crypto #blockchain
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Winklevoss Twins Back $147M Raise for Treasury’s Landmark European Bitcoin Listing - Treasury BV said it raised 126 million euros ($147 million) in a private funding round le... - https://www.coindesk.com/business/2025/09/03/winklevoss-twins-back-usd147m-raise-for-treasury-s-landmark-european-bitcoin-listing #mergersandacquisitions #digitalassettreasury #publiclisting #netherlands #winklevoss #finance #bitcoin #news
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Winklevoss Twins Back $147M Raise for Treasury’s Landmark European Bitcoin Listing - Treasury BV said it raised 126 million euros ($147 million) in a private funding round le... - https://www.coindesk.com/business/2025/09/03/winklevoss-twins-back-usd147m-raise-for-treasury-s-landmark-european-bitcoin-listing #mergersandacquisitions #digitalassettreasury #publiclisting #netherlands #winklevoss #finance #bitcoin #news
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Winklevoss Twins Heave $21M Toward Republicans in Next Year's Congressional Battles - Tyler and Cameron Winklevoss said they're spending $21 million to continue the crypto pol... - https://www.coindesk.com/policy/2025/08/20/winklevoss-twins-heave-usd21m-toward-republicans-in-next-year-s-congressional-battles #campaigncontributions #politicalcampaigns #u.s.congress #donaldtrump #winklevoss #policy #news
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Winklevoss Twins Heave $21M Toward Republicans in Next Year's Congressional Battles - Tyler and Cameron Winklevoss said they're spending $21 million to continue the crypto pol... - https://www.coindesk.com/policy/2025/08/20/winklevoss-twins-heave-usd21m-toward-republicans-in-next-year-s-congressional-battles #campaigncontributions #politicalcampaigns #u.s.congress #donaldtrump #winklevoss #policy #news
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the #winklevoss twins' crypto exchange #Gemini (the same one that was sanctioned for providing fake data to the #CFTC about #bitcoin ETFs years ago) is trying to do an #IPO this year despite somehow managing to lose over a quarter billion dollars in the first half of the year of one of the biggest #crypto bull markets in history.
https://x.com/riddle245/status/1956484183968350481 -
the #winklevoss twins' crypto exchange #Gemini (the same one that was sanctioned for providing fake data to the #CFTC about #bitcoin ETFs years ago) is trying to do an #IPO this year despite somehow managing to lose over a quarter billion dollars in the first half of the year of one of the biggest #crypto bull markets in history.
https://x.com/riddle245/status/1956484183968350481 -
Industry execs who gave to #MAGA Inc were invited to a WH #crypto summit in March that included…the most influential figures in the industry. Among the attendees was an executive from Andreessen’s & Horowitz’s company. Also on the list were Tyler & Cameron #Winklevoss, who run crypto exchange #Gemini & contributed a combined total of nearly $4M to MAGA Inc through the company & personal donations, & #KyleSamani, a venture investor who donated $200k after having donated $250k to the inauguration.
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Industry execs who gave to #MAGA Inc were invited to a WH #crypto summit in March that included…the most influential figures in the industry. Among the attendees was an executive from Andreessen’s & Horowitz’s company. Also on the list were Tyler & Cameron #Winklevoss, who run crypto exchange #Gemini & contributed a combined total of nearly $4M to MAGA Inc through the company & personal donations, & #KyleSamani, a venture investor who donated $200k after having donated $250k to the inauguration.
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Winklevoss Claims JPMorgan Halted Gemini Onboarding After Data Access Fees Criticism - Tyler Winklevoss, co-founder of the crypto exchange Gemini, claimed that JPMorgan Chase h... - https://www.coindesk.com/business/2025/07/26/winklevoss-claims-jpmorgan-halted-gemini-onboarding-after-data-access-fees-criticism #jpmorganchase #winklevoss #finance #gemini #news
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Winklevoss Claims JPMorgan Halted Gemini Onboarding After Data Access Fees Criticism - Tyler Winklevoss, co-founder of the crypto exchange Gemini, claimed that JPMorgan Chase h... - https://www.coindesk.com/business/2025/07/26/winklevoss-claims-jpmorgan-halted-gemini-onboarding-after-data-access-fees-criticism #jpmorganchase #winklevoss #finance #gemini #news
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i guess "god's wrath will throw fire upon the sodomites" is what passes for a #libertarian take in 2025, because this is one of the main guys trying to build the #NetworkState.
(he's the CEO of #Praxis, "the world's first digital nation" that's funded by a lot of the crypto bros including Peter Thiel, #Balaji, Joe Lonsdale, the #Winklevoss twins, #Paradigm (big crypto fund), a #Worldcoin guy, and a bunch of others). cc: @gilduran.com @gilduran
* the tweet: https://x.com/drydenwtbrown/status/1939412375871836384
* more on Dryden Brown: https://www.motherjones.com/politics/2023/09/praxis-society-city-dryden-brown-peter-thiel/#pride #lgbt #Thiel #Pronomos #PeterThiel #crypto #cryptocurrency #NetworkState #broligarchy #Broligarchs #JoeLonsdale #TheNetworkState #gay #christianNationalism #DrydenBrown #a16z #nerdreich #thenerdreich
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i guess "god's wrath will throw fire upon the sodomites" is what passes for a #libertarian take in 2025, because this is one of the main guys trying to build the #NetworkState.
(he's the CEO of #Praxis, "the world's first digital nation" that's funded by a lot of the crypto bros including Peter Thiel, #Balaji, Joe Lonsdale, the #Winklevoss twins, #Paradigm (big crypto fund), a #Worldcoin guy, and a bunch of others). cc: @gilduran.com @gilduran
* the tweet: https://x.com/drydenwtbrown/status/1939412375871836384
* more on Dryden Brown: https://www.motherjones.com/politics/2023/09/praxis-society-city-dryden-brown-peter-thiel/#pride #lgbt #Thiel #Pronomos #PeterThiel #crypto #cryptocurrency #NetworkState #broligarchy #Broligarchs #JoeLonsdale #TheNetworkState #gay #christianNationalism #DrydenBrown #a16z #nerdreich #thenerdreich
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The founding members of the club, which has already sold many of its membership slots acc/to organizers, include Cameron & Tyler #Winklevoss, the #cryptocurrency execs whose company, #GeminiTrust, had been targeted by the #SEC until #Trump named new agency leaders, who in April put a hold on the federal lawsuit.
#law #corruption #broligarchy #plutocracy #technocracy #Constitution #EmolumentsClause #ImpeachTrump
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The founding members of the club, which has already sold many of its membership slots acc/to organizers, include Cameron & Tyler #Winklevoss, the #cryptocurrency execs whose company, #GeminiTrust, had been targeted by the #SEC until #Trump named new agency leaders, who in April put a hold on the federal lawsuit.
#law #corruption #broligarchy #plutocracy #technocracy #Constitution #EmolumentsClause #ImpeachTrump
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'Chatham House Rule'
Torenberg launched Chatham House the summer of 2024,
naming it after a British think tank that formalized the insight that
trusted conversations require a degree of privacy.Two of its conservative participants said they see the group as a way to shift centrist Trump-curious figures to the Republican side,
but its founder said he’d begun it to have “a left-right exchange where we could have real conversations because of filter bubble group chats.”Chatham House includes high-profile figures like the economist
#Larry #Summers and the historian #Niall #Ferguson,
and more partisan figures like #Shapiro and the Democratic analyst #David #Shor.#Andreessen lurks.
But several participants described it to me as something like a gladiatorial arena with #Cuban most often in the center,
sparring with conservatives.(“no idea what you are talking about :)” Cuban emailed in response to an inquiry about his arguments on Chatham House.)
The Group Chat Era depended on part of the American elite feeling shut out from public spaces,
and on the formation of a new conservative consensus.Both of those are now fading
(though Torenberg has invested in a company called #ChatBCC that wants to commercialize the heady experience of sitting in on texts among the power elite).Since Elon Musk turned X to the right
and an alternative media ecosystem emerged on Substack,
“a tremendous amount of the verboten conversations can now shift back into public view,” Andreessen told Fridman.“It’s much healthier to live in a society in which people are literally not scared of what they’re saying.”
And Trump’s destabilizing “Liberation Day” has taken its toll on the coalition Andreessen helped shape.
You can see it on X,
where investors joke that they’ll put pronouns back in their bios in exchange for a return to the 2024 stock prices,
and where #Srinivasan has been a leading critic of Trump’s tariffs.“Group chats have changed on the economy in the last few weeks,”
said #Rufo.
“There’s a big split on the tech right.”The polarity of social media has also reversed,
and while participants used to keep their conservative ideas off social media,
“now the anti-Trump sentiment is what you’re afraid to say on X,” one said.By mid-April, #Sacks had had enough with Chatham House:
“This group has become worthless since the loudest voices have TDS,”
he wrote, shorthanding
“Trump Derangement Syndrome.”Then he addressed Torenberg:
“You should create a new one with just smart people.”Signal soon showed that three men had left the group:
The Sequoia partner #Shaun #Maguire,
the bitcoin billionaire #Tyler #Winklevoss, and #Tucker #Carlson.https://www.semafor.com/article/04/27/2025/the-group-chats-that-changed-america
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'Chatham House Rule'
Torenberg launched Chatham House the summer of 2024,
naming it after a British think tank that formalized the insight that
trusted conversations require a degree of privacy.Two of its conservative participants said they see the group as a way to shift centrist Trump-curious figures to the Republican side,
but its founder said he’d begun it to have “a left-right exchange where we could have real conversations because of filter bubble group chats.”Chatham House includes high-profile figures like the economist
#Larry #Summers and the historian #Niall #Ferguson,
and more partisan figures like #Shapiro and the Democratic analyst #David #Shor.#Andreessen lurks.
But several participants described it to me as something like a gladiatorial arena with #Cuban most often in the center,
sparring with conservatives.(“no idea what you are talking about :)” Cuban emailed in response to an inquiry about his arguments on Chatham House.)
The Group Chat Era depended on part of the American elite feeling shut out from public spaces,
and on the formation of a new conservative consensus.Both of those are now fading
(though Torenberg has invested in a company called #ChatBCC that wants to commercialize the heady experience of sitting in on texts among the power elite).Since Elon Musk turned X to the right
and an alternative media ecosystem emerged on Substack,
“a tremendous amount of the verboten conversations can now shift back into public view,” Andreessen told Fridman.“It’s much healthier to live in a society in which people are literally not scared of what they’re saying.”
And Trump’s destabilizing “Liberation Day” has taken its toll on the coalition Andreessen helped shape.
You can see it on X,
where investors joke that they’ll put pronouns back in their bios in exchange for a return to the 2024 stock prices,
and where #Srinivasan has been a leading critic of Trump’s tariffs.“Group chats have changed on the economy in the last few weeks,”
said #Rufo.
“There’s a big split on the tech right.”The polarity of social media has also reversed,
and while participants used to keep their conservative ideas off social media,
“now the anti-Trump sentiment is what you’re afraid to say on X,” one said.By mid-April, #Sacks had had enough with Chatham House:
“This group has become worthless since the loudest voices have TDS,”
he wrote, shorthanding
“Trump Derangement Syndrome.”Then he addressed Torenberg:
“You should create a new one with just smart people.”Signal soon showed that three men had left the group:
The Sequoia partner #Shaun #Maguire,
the bitcoin billionaire #Tyler #Winklevoss, and #Tucker #Carlson.https://www.semafor.com/article/04/27/2025/the-group-chats-that-changed-america
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Winklevoss' crypto exchange Gemini is eyeing an IPO as soon as this year, while Bullish plans its own IPO in 2025. 🚀 The crypto market is heating up! #Gemini #IPO #Crypto #Bullish #Winklevoss #Blockchain #Cryptocurrency #CryptoNews #TechNews #2025
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Also in attendance…was #MicroStrategy founder #MichaelSaylor, wearing his trademark orange bow tie, a nod to #bitcoin…, #Ripple CEO #BradGarlinghouse & top execs at #Coinbase, including global #policy head #FaryarShirzad….
The #Winklevoss twins chatted w/Chris Dixon of #AndreessenHorowitz & his colleague, Sriram Krishnan, who left his role…at the firm to join #DavidSacks’ task force. #BoHines, #Trump’s choice to lead the Presidential Council of Advisers for #DigitalAssets, was also present.…
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Also in attendance…was #MicroStrategy founder #MichaelSaylor, wearing his trademark orange bow tie, a nod to #bitcoin…, #Ripple CEO #BradGarlinghouse & top execs at #Coinbase, including global #policy head #FaryarShirzad….
The #Winklevoss twins chatted w/Chris Dixon of #AndreessenHorowitz & his colleague, Sriram Krishnan, who left his role…at the firm to join #DavidSacks’ task force. #BoHines, #Trump’s choice to lead the Presidential Council of Advisers for #DigitalAssets, was also present.…
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Trump Boosters Expect Big Returns on Their Investment:
‘The Shackles Are Off’Wealthy donors to the president-elect’s campaign anticipate a more business-friendly atmosphere,
including the firing of Biden-era regulators.🔸Limit the reach of federal regulations on artificial intelligence.
🔸Make room for cryptocurrencies to thrive.
🔸Ease the antitrust crackdown on big tech companies.
🔸Buy more military drones. And don’t raise taxes on billionaires.The to-do list for President-elect Donald J. Trump from #Marc #Andreessen, the venture capital billionaire from California, is long, but quite specific.
Now, after donating big money to Mr. Trump, Mr. Andreessen is eager to see his candidate work through the list
“It felt like a boot off the throat,” Mr. Andreessen said about Mr. Trump’s victory during a podcast conversation this month with his business partner.
“Every morning I wake up happier than the day before.”Mr. Andreessen’s excitement is a hint of just how broadly the victory by Mr. Trump has resonated with business executives who ⚠️ invested millions of dollars in his candidacy and now stand to profit from his policies.
Theirs is a circle of deep-pocketed industry winners that extends far beyond #Elon #Musk.
It is a more diverse group, at least in terms of business interests, than the one that surrounded Mr. Trump in his first administration, where executives from the oil, gas and coal industries were particularly dominant.
#Harold #Hamm, the billionaire founder of the Oklahoma-based 💥oil and gas giant Continental Resources, is still in a position to benefit, from regulatory rollbacks that he and an affiliated trade association are already pushing.But the list also includes:
#Joe #Lonsdale, a defense technology executive who wants to help the Pentagon revamp the way it fights 💥wars;
#Cameron and #Tyler #Winklevoss, the twins who were known for their battle with Facebook, then became 💥cryptocurrency investors and now want to shape the industry’s rules;
#Brian #Evans, the chief executive of Geo Group, the 💥private prison giant that could benefit if Mr. Trump carries out his promise of large-scale deportations;
John Paulson, the hedge fund billionaire who could cash out of his investment in the federal government’s housing finance companies, Freddie and Fannie, if they are privatized under Mr. Trump.
“It will be a billionaires’ ball,” said Robert Reich, who served as secretary of labor during the Clinton administration and who has long been critical of the income disparity in the United States. -
Trump Boosters Expect Big Returns on Their Investment:
‘The Shackles Are Off’Wealthy donors to the president-elect’s campaign anticipate a more business-friendly atmosphere,
including the firing of Biden-era regulators.🔸Limit the reach of federal regulations on artificial intelligence.
🔸Make room for cryptocurrencies to thrive.
🔸Ease the antitrust crackdown on big tech companies.
🔸Buy more military drones. And don’t raise taxes on billionaires.The to-do list for President-elect Donald J. Trump from #Marc #Andreessen, the venture capital billionaire from California, is long, but quite specific.
Now, after donating big money to Mr. Trump, Mr. Andreessen is eager to see his candidate work through the list
“It felt like a boot off the throat,” Mr. Andreessen said about Mr. Trump’s victory during a podcast conversation this month with his business partner.
“Every morning I wake up happier than the day before.”Mr. Andreessen’s excitement is a hint of just how broadly the victory by Mr. Trump has resonated with business executives who ⚠️ invested millions of dollars in his candidacy and now stand to profit from his policies.
Theirs is a circle of deep-pocketed industry winners that extends far beyond #Elon #Musk.
It is a more diverse group, at least in terms of business interests, than the one that surrounded Mr. Trump in his first administration, where executives from the oil, gas and coal industries were particularly dominant.
#Harold #Hamm, the billionaire founder of the Oklahoma-based 💥oil and gas giant Continental Resources, is still in a position to benefit, from regulatory rollbacks that he and an affiliated trade association are already pushing.But the list also includes:
#Joe #Lonsdale, a defense technology executive who wants to help the Pentagon revamp the way it fights 💥wars;
#Cameron and #Tyler #Winklevoss, the twins who were known for their battle with Facebook, then became 💥cryptocurrency investors and now want to shape the industry’s rules;
#Brian #Evans, the chief executive of Geo Group, the 💥private prison giant that could benefit if Mr. Trump carries out his promise of large-scale deportations;
John Paulson, the hedge fund billionaire who could cash out of his investment in the federal government’s housing finance companies, Freddie and Fannie, if they are privatized under Mr. Trump.
“It will be a billionaires’ ball,” said Robert Reich, who served as secretary of labor during the Clinton administration and who has long been critical of the income disparity in the United States. -
Winklevoss-backed DeFi platform launches after $6.9M investment round - Azura completed a $6.9 million investment round backed by the Winklevoss... - https://cointelegraph.com/news/winklevoss-backed-defi-platform-launches-6-9-m-investment-round #defiaggregationlayer #decentralizedfinance #cryptoadoption #winklevoss #investment #azura #defi
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Winklevoss-backed DeFi platform launches after $6.9M investment round - Azura completed a $6.9 million investment round backed by the Winklevoss... - https://cointelegraph.com/news/winklevoss-backed-defi-platform-launches-6-9-m-investment-round #defiaggregationlayer #decentralizedfinance #cryptoadoption #winklevoss #investment #azura #defi
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Trump has long made a practice of telling potential supporters what they want to hear.
This year, he has also changed previous policy positions in ways that would benefit some of his party’s largest donors.
In March, for example, he publicly reversed course on forcing the sale of the Chinese-owned social-media app TikTok,
despite having signed an executive order,
in August, 2020,
stating his intention to ban the app if it was not sold to a U.S.-based buyer within forty-five days.Back then, Trump warned that a Chinese company owning so much of Americans’ personal data was a national-security threat.
But this winter, when the Biden Administration endorsed a bipartisan bill to force TikTok’s sale,
Trump came out against the measure.On Truth Social, he wrote,
“If you get rid of TikTok, Facebook and Zuckerschmuck”
—his derogatory name for Facebook’s C.E.O., Mark Zuckerberg
—“will double their business.”#Steve #Bannon, Trump’s former adviser, posted another explanation for the about-face:
“Simple: Yass Coin.”Days earlier, at an event in Florida for the conservative group Club for Growth,
Trump had met with #Jeff #Yass, a major investor in TikTok’s parent company, ByteDance.Yass, a libertarian-leaning Wall Street billionaire who started out as a professional poker player,
has not officially endorsed Trump or donated directly to him.Instead, he has given more than $25 million to the "Club for Growth" pac, which is supporting the ex-President’s reëlection.
(According to OpenSecrets, Yass and his wife have contributed more than $70 million to conservative candidates and causes this election cycle.)
Yass also appears to have had a hand in Trump’s personal enrichment.
This spring, the company behind Truth Social merged with Digital World Acquisition Corp.,
a company in which Yass’s trading firm, Susquehanna,
was the single largest institutional investor.Truth Social went public in March, and Trump’s majority stake in the company is now worth an estimated $3 billion.
Perhaps the most striking example of the former President’s donor-friendly flexibility in 2024 has been his shift on the #cryptocurrency industry.
In recent years, he was unambiguously critical of bitcoin,
the most widely traded digital currency,
saying it
“seems like a scam” and “potentially a disaster waiting to happen.”But, in 2024, he became an unapologetic promoter of it, attracting contributions from major players in the field,
such as the twin brothers #Cameron and #Tyler #Winklevoss,
each of whom donated $1 million in bitcoin to help Trump.The former rowing stars who famously sued Zuckerberg, their classmate at Harvard, for allegedly stealing the idea for Facebook,
went on to found the cryptocurrency exchange Gemini.(In a speech this summer, Trump called them “male models with a big, beautiful brain.”)
This year’s Republican Party platform offers few details on many policy issues affecting Americans,
but it is unusually specific on crypto,
promising to
“defend the right to mine Bitcoin”
and opposing the creation of a
“Central Bank digital currency,”
which could threaten the crypto industry’s biggest investors.In July, Trump flew to Nashville for the Bitcoin 2024 conference,
where he spoke shortly after one of his top fund-raisers,
#Howard #Lutnick.Lutnick, the C.E.O. of the Wall Street firm Cantor Fitzgerald, has become a leading public proponent of the crypto industry;
at the conference, he announced a plan to lend $2 billion to crypto investors,
allowing them to use bitcoin as collateral.
Onstage, Trump said that his Administration would permit the creation of so-called #stablecoins,
which, he promised, would
“extend the dominance of the U.S. dollar to new frontiers around the world.”Trump also promised to fire 🔸Gary Gensler, Biden’s chairman of the Securities and Exchange Commission,
whose pro-regulatory positions on crypto have outraged bitcoiners.The United States, Trump vowed, “will be the crypto capital of the planet.”
Lutnick, who has known Trump for thirty years and who once made a guest appearance on “The Celebrity Apprentice,”
supported Trump’s previous campaigns.But he has significantly increased his giving in 2024.
According to Bloomberg, Lutnick and his wife donated $30,200 to Republicans in 2016
(though he also gave $1 million to Trump’s 2017 Inauguration committee),
$1.3 million in 2020,
and $12.1 million so far this year.In May, during the former President’s trial in Manhattan, Lutnick hosted a fund-raiser for him at Lutnick’s apartment in the Pierre hotel.
In early August, he held another event at his forty-acre estate in Bridgehampton, which brought in $15 million; seats for a roundtable with Trump in Lutnick’s dining room went for $250,000.
The following Monday, maga Inc., a pro-Trump super pac, recorded a $5-million donation from Lutnick,
the largest individual political gift he’d ever made. -
Trump has long made a practice of telling potential supporters what they want to hear.
This year, he has also changed previous policy positions in ways that would benefit some of his party’s largest donors.
In March, for example, he publicly reversed course on forcing the sale of the Chinese-owned social-media app TikTok,
despite having signed an executive order,
in August, 2020,
stating his intention to ban the app if it was not sold to a U.S.-based buyer within forty-five days.Back then, Trump warned that a Chinese company owning so much of Americans’ personal data was a national-security threat.
But this winter, when the Biden Administration endorsed a bipartisan bill to force TikTok’s sale,
Trump came out against the measure.On Truth Social, he wrote,
“If you get rid of TikTok, Facebook and Zuckerschmuck”
—his derogatory name for Facebook’s C.E.O., Mark Zuckerberg
—“will double their business.”#Steve #Bannon, Trump’s former adviser, posted another explanation for the about-face:
“Simple: Yass Coin.”Days earlier, at an event in Florida for the conservative group Club for Growth,
Trump had met with #Jeff #Yass, a major investor in TikTok’s parent company, ByteDance.Yass, a libertarian-leaning Wall Street billionaire who started out as a professional poker player,
has not officially endorsed Trump or donated directly to him.Instead, he has given more than $25 million to the "Club for Growth" pac, which is supporting the ex-President’s reëlection.
(According to OpenSecrets, Yass and his wife have contributed more than $70 million to conservative candidates and causes this election cycle.)
Yass also appears to have had a hand in Trump’s personal enrichment.
This spring, the company behind Truth Social merged with Digital World Acquisition Corp.,
a company in which Yass’s trading firm, Susquehanna,
was the single largest institutional investor.Truth Social went public in March, and Trump’s majority stake in the company is now worth an estimated $3 billion.
Perhaps the most striking example of the former President’s donor-friendly flexibility in 2024 has been his shift on the #cryptocurrency industry.
In recent years, he was unambiguously critical of bitcoin,
the most widely traded digital currency,
saying it
“seems like a scam” and “potentially a disaster waiting to happen.”But, in 2024, he became an unapologetic promoter of it, attracting contributions from major players in the field,
such as the twin brothers #Cameron and #Tyler #Winklevoss,
each of whom donated $1 million in bitcoin to help Trump.The former rowing stars who famously sued Zuckerberg, their classmate at Harvard, for allegedly stealing the idea for Facebook,
went on to found the cryptocurrency exchange Gemini.(In a speech this summer, Trump called them “male models with a big, beautiful brain.”)
This year’s Republican Party platform offers few details on many policy issues affecting Americans,
but it is unusually specific on crypto,
promising to
“defend the right to mine Bitcoin”
and opposing the creation of a
“Central Bank digital currency,”
which could threaten the crypto industry’s biggest investors.In July, Trump flew to Nashville for the Bitcoin 2024 conference,
where he spoke shortly after one of his top fund-raisers,
#Howard #Lutnick.Lutnick, the C.E.O. of the Wall Street firm Cantor Fitzgerald, has become a leading public proponent of the crypto industry;
at the conference, he announced a plan to lend $2 billion to crypto investors,
allowing them to use bitcoin as collateral.
Onstage, Trump said that his Administration would permit the creation of so-called #stablecoins,
which, he promised, would
“extend the dominance of the U.S. dollar to new frontiers around the world.”Trump also promised to fire 🔸Gary Gensler, Biden’s chairman of the Securities and Exchange Commission,
whose pro-regulatory positions on crypto have outraged bitcoiners.The United States, Trump vowed, “will be the crypto capital of the planet.”
Lutnick, who has known Trump for thirty years and who once made a guest appearance on “The Celebrity Apprentice,”
supported Trump’s previous campaigns.But he has significantly increased his giving in 2024.
According to Bloomberg, Lutnick and his wife donated $30,200 to Republicans in 2016
(though he also gave $1 million to Trump’s 2017 Inauguration committee),
$1.3 million in 2020,
and $12.1 million so far this year.In May, during the former President’s trial in Manhattan, Lutnick hosted a fund-raiser for him at Lutnick’s apartment in the Pierre hotel.
In early August, he held another event at his forty-acre estate in Bridgehampton, which brought in $15 million; seats for a roundtable with Trump in Lutnick’s dining room went for $250,000.
The following Monday, maga Inc., a pro-Trump super pac, recorded a $5-million donation from Lutnick,
the largest individual political gift he’d ever made. -
Elon Musk and Donald Trump have reportedly been speaking together frequently in recent months,
and their bitterly reactionary politics obviously align.Within days, The Wall Street Journal reported that Musk was committing a remarkable
$45 million per month to "America PAC",
a new pro-Trump super PAC that would
also be supported by Palantir cofounder Joe #Lonsdale, Mark #Zuckerberg castoffs Tyler and Cameron #Winklevoss,
and several members of what’s sometimes called the Paypal mafia,
a right-wing network of tech industry leaders with Peter #Thiel as its presiding majordomo.If, two years ago The New York Times could make the dubious claim that tech giants like Musk were hard to pin down politically, there is no room now for even that level of credulousness.
It’s official:
Silicon Valley has been fully MAGA-pilled, and the tech authoritarians are bringing their money with them.Trump unveiled as his VP pick Ohio Senator J.D. #Vance, a former Thiel employee and venture capitalist who owes his election to the Senate to a $15 million campaign cash infusion from Thiel.
For the tech industry, whose rightward swerve has been hard to ignore this campaign cycle, the Vance selection was sensational.
“We have a former tech VC in the White House,” crowed Delian #Asparouhov, a partner at Thiel’s Founders Fund who once drew notice for sharing a comic by the neo-Nazi cartoonist known as StoneToss. “Greatest country on Earth baby.”
Musk, who had reportedly been agitating privately for Trump to choose Vance, celebrated the pick on X.
“Resounds with victory,” he wrote.
Vivek #Ramaswamy posted wistful, supportive remarks about being drinking buddies with Vance at Yale Law School.Using the term of endearment favored by his fellow mega-rich “All-In” podcast hosts,
Chamath #Palihapitiya celebrated the news: “A Bestie adjacent as the VP?!?!?!”Thiel, who is infamous for his stated aversion to democracy, has claimed that he is sitting out this election,
but his baton has been passed to a gaggle of ornery venture capitalists and tech CEOs whom you may recognize from their grievance-laden X posts: #Lonsdale, David #Sacks, Shaun #Maguire, Marc #Andreessen, et al.They are all very rich and control a lot of capital beyond their own.
They are also wielding increasing influence over the Trump campaign: Sacks spoke at the Republican National Convention in Milwaukee
https://www.thenation.com/article/politics/silicon-valley-trump-support-donations/ -
Elon Musk and Donald Trump have reportedly been speaking together frequently in recent months,
and their bitterly reactionary politics obviously align.Within days, The Wall Street Journal reported that Musk was committing a remarkable
$45 million per month to "America PAC",
a new pro-Trump super PAC that would
also be supported by Palantir cofounder Joe #Lonsdale, Mark #Zuckerberg castoffs Tyler and Cameron #Winklevoss,
and several members of what’s sometimes called the Paypal mafia,
a right-wing network of tech industry leaders with Peter #Thiel as its presiding majordomo.If, two years ago The New York Times could make the dubious claim that tech giants like Musk were hard to pin down politically, there is no room now for even that level of credulousness.
It’s official:
Silicon Valley has been fully MAGA-pilled, and the tech authoritarians are bringing their money with them.Trump unveiled as his VP pick Ohio Senator J.D. #Vance, a former Thiel employee and venture capitalist who owes his election to the Senate to a $15 million campaign cash infusion from Thiel.
For the tech industry, whose rightward swerve has been hard to ignore this campaign cycle, the Vance selection was sensational.
“We have a former tech VC in the White House,” crowed Delian #Asparouhov, a partner at Thiel’s Founders Fund who once drew notice for sharing a comic by the neo-Nazi cartoonist known as StoneToss. “Greatest country on Earth baby.”
Musk, who had reportedly been agitating privately for Trump to choose Vance, celebrated the pick on X.
“Resounds with victory,” he wrote.
Vivek #Ramaswamy posted wistful, supportive remarks about being drinking buddies with Vance at Yale Law School.Using the term of endearment favored by his fellow mega-rich “All-In” podcast hosts,
Chamath #Palihapitiya celebrated the news: “A Bestie adjacent as the VP?!?!?!”Thiel, who is infamous for his stated aversion to democracy, has claimed that he is sitting out this election,
but his baton has been passed to a gaggle of ornery venture capitalists and tech CEOs whom you may recognize from their grievance-laden X posts: #Lonsdale, David #Sacks, Shaun #Maguire, Marc #Andreessen, et al.They are all very rich and control a lot of capital beyond their own.
They are also wielding increasing influence over the Trump campaign: Sacks spoke at the Republican National Convention in Milwaukee
https://www.thenation.com/article/politics/silicon-valley-trump-support-donations/ -
🚩 The #Winklevoss's #cryptocurrency exchange Gemini #bitcoin txn history shows a huge deviation from Benford's Law. Benford's Law is the first/easiest step in any fraud analysis so if this is correct it's *extremely* likely the #Winklevi are doing more #fraud.
This is of course hardly surprising given that #Gemini was caught providing fake data to the #CFTC years back. CFTC relied on that fake data when it approved #bitcoin futures trading. That, in turn, is why the courts forced the #SEC to allow bitcoin ETFs (really ETPs) earlier this year. The grim details of how they pulled of this stunt are in Congressional testimony from Duke University's Lee Reiners here: https://docs.house.gov/meetings/BA/BA21/20240918/117661/HHRG-118-BA21-Wstate-ReinersL-20240918.pdf
The #Winklevi are all in for #trump because they want to stay out of prison.
#Election2024 #2024Election #DonaldTrump #JDVance #uspol #uspolitics #politics #Kamala2024 #KamalaHarris #GOP #MAGA #MAGAts #Vote #Republicans #RVAT #Democrats #HarrisWalz2024 #VoteBlue #bitcoin #btc #crypto
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🚩 The #Winklevoss's #cryptocurrency exchange Gemini #bitcoin txn history shows a huge deviation from Benford's Law. Benford's Law is the first/easiest step in any fraud analysis so if this is correct it's *extremely* likely the #Winklevi are doing more #fraud.
This is of course hardly surprising given that #Gemini was caught providing fake data to the #CFTC years back. CFTC relied on that fake data when it approved #bitcoin futures trading. That, in turn, is why the courts forced the #SEC to allow bitcoin ETFs (really ETPs) earlier this year. The grim details of how they pulled of this stunt are in Congressional testimony from Duke University's Lee Reiners here: https://docs.house.gov/meetings/BA/BA21/20240918/117661/HHRG-118-BA21-Wstate-ReinersL-20240918.pdf
The #Winklevi are all in for #trump because they want to stay out of prison.
#Election2024 #2024Election #DonaldTrump #JDVance #uspol #uspolitics #politics #Kamala2024 #KamalaHarris #GOP #MAGA #MAGAts #Vote #Republicans #RVAT #Democrats #HarrisWalz2024 #VoteBlue #bitcoin #btc #crypto
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Winklevoss Twins' Father Donates $4M Bitcoin to School Teaching Theory That Inspired Satoshi - His donation is the first bitcoin gift that the college has received, and will fund new b... - https://www.coindesk.com/business/2024/09/17/father-of-winklevoss-twins-donates-4m-bitcoin-to-the-institute-that-inspired-satoshi/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #winklevosstwins #winklevoss #donations #exclusive #finance #bitcoin #news
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Winklevoss Twins' Father Donates $4M Bitcoin to School Teaching Theory That Inspired Satoshi - His donation is the first bitcoin gift that the college has received, and will fund new b... - https://www.coindesk.com/business/2024/09/17/father-of-winklevoss-twins-donates-4m-bitcoin-to-the-institute-that-inspired-satoshi/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #winklevosstwins #winklevoss #donations #exclusive #finance #bitcoin #news
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Crypto Comes For Sherrod Brown:
$32 Million in Ads Boosting His Opponent
Crypto companies are spending $800,000 a day to take out one of their chief critics in Congress — and replace him with an ally
Late 2023 was not a great time for the crypto industry.
In November, #Sam #Bankman-#Fried, the founder of the FTX cryptocurrency exchange, learned that no amount of Michael Lewis gymnastics could save him from being convicted on seven charges of fraud and conspiracy.
He was eventually sentenced to 25 years in prison after disappearing $11 billion of other people’s money.
The following month, Sen. #Elizabeth #Warren sent letters to three crypto industry giants, the 🔸Blockchain Association, 🔸Coin Center, and 🔸Coinbase, criticizing them for undermining efforts to rein in crypto’s use in #terrorist #financing.
Around the same time, crypto groups began making noises about ♦️spending money in 2024 to defeat Ohio Sen. #Sherrod #Brown, the current ⭐️chairman of the Senate Banking Committee.
❇️ Brown is a profound skeptic of the industry and signed off on Warren holding hearings on crypto’s possible links to terrorism.
Asked about the threats, Brown, a mop-topped Democrat with a raspy voice and wry sense of humor, said he was unconcerned.
But Brown had no idea of what was to come.
Rolling Stone has learned that crypto interests are set to spend💥 $32 million on TV ads promoting #Bernie #Moreno, Brown’s Republican opponent, by the end of September, according to Democratic media buyers.
The spending began on August 22
— meaning 🔥the crypto interests are spending more than $800,000 per day to flip the Ohio Senate seat, and potentially control of the Senate.“Outside groups are spending record amounts to try to defeat Sherrod because they know he will always fight for Ohio, not special interests,” said Reeves Oyster, a Brown campaign spokesperson.
So far, the ads have been primarily fluffy positive spots boosting Moreno; some of the spots fearmonger about immigrants and China.
Tracing the roots of "Defend American Jobs" can be as convoluted as tracing crypto currency itself.
The group is effectively a subsidiary of #Fairshake
— the second-largest fundraiser among Super PACs this season according to OpenSecrets,
with over $200 million in its coffers.♦️The bulk of Fairshake’s money has been donated by three crypto monoliths: Coinbase, Andreessen Horowitz, and Ripple.
#Coinbase and its affiliates have donated $86 million.
The founders of the venture capital firm #Andreessen #Horowitz have together given $44 million.
#Ripple has contributed $25 million. (The #Winklevoss #Twins, who donated nearly $5 million to Fairshake, previously tried to donate $1 million in bitcoin to Donald Trump
— well beyond what is legal.)Coinbase’s CEO #Brian #Armstrong has led the latest charge to bring crypto into the political mainstream,
hosting a Super Tuesday rally with Nas in Los Angeles where he proclaimed,
“More Americans own crypto than own electric vehicles or are in a union
— yet some people in D.C. are still underestimating how much and how many people care about crypto.In 2024, it will become clear that being anti-crypto is bad politics.”
Rep. #Katie #Porter found that out the hard way.
During the California Democratic Senate primary, ⚠️Fairshake spent over $10 million against her campaign, apparently because she had the temerity to question the energy uses of the industry.
Porter didn’t make the runoff, losing to Adam Schiff, a longtime collaborator with crypto who received an ‘A’ rating from "Stand With Crypto", a self-described grassroots advocacy hub nonprofit led by Coinbase and fronted by Armstrong.
Porter got an ‘F.’
https://www.rollingstone.com/politics/politics-features/sherrod-brown-crypto-bernie-moreno-millions-1235102478/ -
Crypto Comes For Sherrod Brown:
$32 Million in Ads Boosting His Opponent
Crypto companies are spending $800,000 a day to take out one of their chief critics in Congress — and replace him with an ally
Late 2023 was not a great time for the crypto industry.
In November, #Sam #Bankman-#Fried, the founder of the FTX cryptocurrency exchange, learned that no amount of Michael Lewis gymnastics could save him from being convicted on seven charges of fraud and conspiracy.
He was eventually sentenced to 25 years in prison after disappearing $11 billion of other people’s money.
The following month, Sen. #Elizabeth #Warren sent letters to three crypto industry giants, the 🔸Blockchain Association, 🔸Coin Center, and 🔸Coinbase, criticizing them for undermining efforts to rein in crypto’s use in #terrorist #financing.
Around the same time, crypto groups began making noises about ♦️spending money in 2024 to defeat Ohio Sen. #Sherrod #Brown, the current ⭐️chairman of the Senate Banking Committee.
❇️ Brown is a profound skeptic of the industry and signed off on Warren holding hearings on crypto’s possible links to terrorism.
Asked about the threats, Brown, a mop-topped Democrat with a raspy voice and wry sense of humor, said he was unconcerned.
But Brown had no idea of what was to come.
Rolling Stone has learned that crypto interests are set to spend💥 $32 million on TV ads promoting #Bernie #Moreno, Brown’s Republican opponent, by the end of September, according to Democratic media buyers.
The spending began on August 22
— meaning 🔥the crypto interests are spending more than $800,000 per day to flip the Ohio Senate seat, and potentially control of the Senate.“Outside groups are spending record amounts to try to defeat Sherrod because they know he will always fight for Ohio, not special interests,” said Reeves Oyster, a Brown campaign spokesperson.
So far, the ads have been primarily fluffy positive spots boosting Moreno; some of the spots fearmonger about immigrants and China.
Tracing the roots of "Defend American Jobs" can be as convoluted as tracing crypto currency itself.
The group is effectively a subsidiary of #Fairshake
— the second-largest fundraiser among Super PACs this season according to OpenSecrets,
with over $200 million in its coffers.♦️The bulk of Fairshake’s money has been donated by three crypto monoliths: Coinbase, Andreessen Horowitz, and Ripple.
#Coinbase and its affiliates have donated $86 million.
The founders of the venture capital firm #Andreessen #Horowitz have together given $44 million.
#Ripple has contributed $25 million. (The #Winklevoss #Twins, who donated nearly $5 million to Fairshake, previously tried to donate $1 million in bitcoin to Donald Trump
— well beyond what is legal.)Coinbase’s CEO #Brian #Armstrong has led the latest charge to bring crypto into the political mainstream,
hosting a Super Tuesday rally with Nas in Los Angeles where he proclaimed,
“More Americans own crypto than own electric vehicles or are in a union
— yet some people in D.C. are still underestimating how much and how many people care about crypto.In 2024, it will become clear that being anti-crypto is bad politics.”
Rep. #Katie #Porter found that out the hard way.
During the California Democratic Senate primary, ⚠️Fairshake spent over $10 million against her campaign, apparently because she had the temerity to question the energy uses of the industry.
Porter didn’t make the runoff, losing to Adam Schiff, a longtime collaborator with crypto who received an ‘A’ rating from "Stand With Crypto", a self-described grassroots advocacy hub nonprofit led by Coinbase and fronted by Armstrong.
Porter got an ‘F.’
https://www.rollingstone.com/politics/politics-features/sherrod-brown-crypto-bernie-moreno-millions-1235102478/ -
Markets in Freefall, Coinbase Reports Great Q2 Revenue, and More — Week in Review - The U.S. stock market experienced significant declines, and the crypto market fell... - https://news.bitcoin.com/markets-in-freefall-coinbase-reports-great-q2-revenue-and-more-week-in-review/ #zambiakwacha #stockmarket #winklevoss #theweekly #coinbase #bybit
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“#ElonMusk is not the only #tech executive backing this effort.
“The America PAC raised >$8M between April 1 & June 30, acc/to FEC records. It has received donations from veteran investor #DougLeone, cryptocurrency investors Cameron & Tyler #Winklevoss, & a company run by longtime venture capitalist #JoeLonsdale, acc/to FEC records.
“Lonsdale, a co-founder of the software company #Palantir, is also a leader of the PAC, & 'serves as a political confidant to' #Musk….”
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Who Will Replace Gensler? Winklevoss Urges Crypto Industry to Demand SEC Chair Decision Before Election - Gemini co-founder Tyler Winklevoss has urged the crypto industry to demand to know... - https://news.bitcoin.com/who-will-replace-gensler-winklevoss-urges-crypto-industry-to-demand-sec-chair-decision-before-election/ #tylerwinkelvoss #cryptocurrency #kamalaharris #donaldtrump #garygensler #regulation #winklevoss #crypto
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The payoff from Thiel’s early gamble in Trump is a lesson that has not passed others by.
As with their other obsession, #crypto, the best time to have invested in Trump was 2016,
and the second best time is today.We already have a word for what we’re watching now:
it’s #oligarchy.And we’ve already seen how this plays out.
In Putin’s Russia, political and commercial interests are one and the same.
Thiel is betting
– again
– on the same phenomenon in America.Betting that he will be first among a new breed of tech bro oligarchs
– a new super-class of #broligarchs.In Trump’s America, there will be hard choices for everyone, including the billionaires. --
Though it may be less hard for them.Vance has said he wants to #deregulate crypto and
unshackle AI.He’s said he’d #dismantle Biden’s attempts to place safeguards around AI development.
And while he has it in for the #legacy #monopolies of Google and Facebook
– the platforms that his ideological bedfellows in the “new right” see as part of the “censorship industrial complex” suffocating rightwing speech
– Silicon Valley is betting on a gloves-off, regulation-free, pro-business #goldrush.Another Peter Thiel acolyte was on stage at the Republican National Convention last week,
electrifying the crowd:
#Hulk #Hogan.Hogan is less well known as one of Thiel’s longterm bets, though in some ways he’s even more instructive than Vance.
In 2007, the online magazine #Gawker outed Thiel and ran a series of unflattering articles about him.
It took him years, but he ultimately got his revenge, covertly funding Hulk Hogan to the tune of $10m to sue the publication for invasion of privacy and forcing it into #bankruptcy.
On stage at the RNC, the wrestler, a permatanned orange, ripped off his shirt for the man who increasingly looks like he’ll be America’s next president.
Or, if JD Vance, is correct, the man who will prove to be the #Caesar he says America needs.
A man who he has already urged to fire the nation’s civil servants to
💥 “replace them with our people”,
to defy the courts and rule his own way.Or, to put this in simple terms:
to foment a #coup.Thiel knows what every investor knows. That a crisis is an opportunity.
And that if Trump succeeds in tearing up the federal administration,
there is not only billions to be made in the ensuing market #turmoil but that a new breed of oligarchs,
close to Caesar’s throne, will be the first to share the spoils.And chief among them will be Thiel.
It’s not a stretch to see how #Palantir, his data-mining company
– that under the Conservatives got its teeth into the NHS
– will profile and surveil and target Caesar’s enemies.And Thiel’s track record in winning, in successfully betting on the longest of odds, on biding his time, is maybe the most chilling of all the factors in a fortnight that has started to feel like the start of a run on the bank.
Biden’s debate disaster,
Trump’s victorious assassination survival,
and now Silicon Valley’s ascension to the presidential ticket.The broligarchs have made their move
– and the rest of us need to understand exactly what that means.#tech #elite #Sandberg #Page #Bezos #Peter #Thiel #tech #bro #Vance #Elon #Musk #Marc #Andreessen #Ben #Horowitz #Winklevoss #Chamath #Palihapitiya #David #Sacks #Palantir #Vance #Mithril #Capital #Narya #Capital
