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Tyler and Cameron Winklevoss According to new filings with the US Federal Elections Committee, he has donated $4.9 million to the political action committee Fairshake. It’s the latest windfall for Fairshake, which is spending millions to run aggressive ads against Democrat Katie Porter, who is running for Dianne Feinstein’s old U.S. Senate seat in California.
New donation from the Winklevoss twins, first reported crypto telegraph Wednesday, this comes after big players in the crypto industry made massive donations to Fairshake at the end of 2023. According to the latest data, Ripple Labs and Coinbase donated $20 million and $20.5 million respectively. open secret, Venture capitalists Marc Andreessen and Ben Horowitz of the firm a16z have donated $9.5 million through October 2023, according to OpenSecrets.
The Winklevoss twins are best remembered by some for their public feud with Mark Zuckerberg at Facebook in the early days of the social media company. But lately, the Winklevoss brothers have focused on the world of crypto, even as Gemini, the crypto firm they founded in 2014, has fallen on hard times. Gemini was forced to freeze accounts in 2022 in the wake of the FTX implosion, and New York Attorney General Letitia James filed a lawsuit against Gemini. at the end of last year,
Fairshake PAC has set its sights on Rep. Katie Porter, a Democrat from California, who is buying both local broadcast TV ads and digital ads to go against the congresswoman who is currently running for California Senate. But it was previously occupied by Dianne Feinstein. The ads do not make it entirely clear to viewers who is actually attacking Porter.
“Katie Porter makes fools of us by lecturing California on its values. She claims not to take corporate PAC money. No, instead, Katie Porter took over $100,000 in cash directly from Big Pharma, Big Oil, and Big Bank executives for her campaign,” the ad’s narrator claims.
“This is not moving the Senate. This is deceitful politics as usual. And we won’t be fooled,” the ad continues.
The ad includes text that details the donations, which include a $500 donation from a pharmaceutical executive, a $2,000 donation from an oil company vice president, and a $2,900 donation from the president of a bank. But there is some debate about whether these donations made by individuals who work for these companies rather than the companies themselves should actually be eligible to receive money from those same industries.
In fact, sacramento bee Recently wrote an article explaining how misleading it is for any of these donations to be from Big Pharma, Big Oil, and Big Banks. But misleading or not, it’s harder for YouTube users in California to avoid ads. This ad has been viewed more than 6 million times On video-sharing platforms according to google Advertising Transparency Center,
It’s not entirely clear what Porter did to upset people in Fairshake, but Porter is running in the primary against fellow Democrats Rep. Adam Schiff and Rep. Barbara Lee. Republican and former Major League Baseball player Steve Garvey is also in the running, though is ranked fourth in the polls. The top two finishers in the March 5 primary will advance to the November 5 general election, even if both are Democrats.
Cryptocurrencies were not discussed during the final debate between the four leading candidates on TuesdayAlthough Schiff has expressed support for crypto campaign website,
California is at the forefront of new developments in technology ranging from Web3 and quantum computing to cryptocurrency and blockchain technology, as well as biotechnology and climate technology. We need to develop comprehensive regulatory frameworks to ensure that these companies and jobs stay here and grow here, and that the United States remains a global leader in these important new technologies.
Porter’s campaign did not respond to emailed questions, but said in a press release on the congresswoman’s website that the attack ads Were, “Funded by shady crypto billionaires.” Porter also answered ads on X last week when ads really started covering the YouTube landscape in California.
“Californians Are Not Fools: Obscure Crypto Billionaires Don’t Want a Strong Voice for Consumers in the Senate. They are afraid of those who cite corporate greed, so they are spending millions on dishonest dark money ads against me,” Porter wrote on X. 13 February, “Their ads will never stop me from fighting for you.”
According to Fairshake, there are two affiliated crypto groups known as Defend American Jobs and Protect Progress new York Times, Protect progress currently running youtube ads In support of Shomari Figures, a Democrat who is running for Congress in Alabama.
With over $85 million in donations, it’s probably safe to say that Fairshake will never stop trying to influence the California primary election for US Senate. After all, there is a presidential election this year. And with the prices of both Bitcoin and Ethereum surging in recent months, the crypto industry is clearly ready to throw its weight behind influencing public policy.
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