The Winkleboss twins play politically with fire. What began as a tech rebellion has become the center of a full-fledged right-winger that will break the political neutrality of the cryptocurrency industry that has been carefully constructed in Washington.
The twins quickly turned to MAGA since President Trump announced his support for cryptocurrency in his campaign last year. Tyler Winklevoss and Cameron Winklevoss, best known for their feud with Mark Zack at Harvard University, are committed to Trump.
They now have major influence within the Republican Party, pushing for appointments, hindering nominations and determining what the image of cryptocurrency will look like on the hill.
Tyler and Cam’s influence came into full force when Trump declined as a candidate for CFTC chairman in July after personal conversations with his brothers. Candidate Brian Quintz was considered a promising candidate across the partisan line, but he was not a good candidate for the twins. As Cryptopolitan widely reported, it was unfavourable that he refused to “pay” his past regulatory measures against Gemini, a cryptocurrency exchange.
Crypto’s bipartisan masks are off
Until now, the cryptocurrency world has tried to put both sides. The Democrats may have hit the field hard with regulations, but a bipartisan position has always been the goal. This means that virtual currency can secure a seat no matter who controls the parliament.
Now, the Winkleboss twins have donated $1 million each in Bitcoin to Trump, supporting the pro-Trump PAC, and have led Republicans to donate more than $5 million in donations only. Their new favorite toy is the Digital Freedom Fund PAC, the MAGA-friendly tool they use to fund Trump’s crypto policy.
Incidentally, Tyler and Cam once supported the Democrats, and in 2018 their political funds literally drifted to the left. In the 2024 cycle, he also spread donations to both parties, contributing to Fairshake, the leading bipartisan cryptocurrency super PAC. There’s no more. Despite having another $140 million in 2026, they are kicking out the fairshakes, now running their own stores, choosing ideological loyalty over a broad coalition government.
However, in other words, the Biden administration has given its imperative on cryptocurrency. The twin company Gemini has been sued by the SEC and CFTC. They paid $5 million to resolve one of them. The crackdown was enraged and now they are fighting back dollars at a time. But other industries are sweating while Trump grins. If Congress needs to have both sides pass a real crypto bill, then no one wants to be tagged as a Republican project.
Rebellion from within and outside the party
Some Republicans are excited. People like Senator Cynthia Lumith have a crush on the Winkleboss twins and even consulted them about their policies. She doesn’t hide her belief that Democrats do little to help the cryptocurrency industry.
But not everyone is applauding. Former Democrat Rep. Wiley Nickel criticized the dangerous inclination and warned that cryptocurrency is the fast path to political irrelevance for political irrelevant.
People are also becoming more and more nervous within the industry. Insiders have confirmed off the record that making cryptocurrency a problem solely in the Republican Party is a bad bet. Once the pendulum returns to the Democrats, and that will happen.
The industry is at risk of being frozen. Some of the same Democrats the Winkleboss brothers ignore are pushing for the next big cryptocurrency bill. If we burn those bridges now, everything that this sector was trying to build in Washington, DC could be destroyed.
Still, the twins’ momentum has not diminished. Trump loves them. They are in his ears and the checkbook is always open. And while most crypto fans still want bipartisan coverage, the Winkleboss brothers are writing their own strategies and together they are dragging the industry into the deficit.
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