“Good Guys Wearing White Hats”: John Deaton Praises the Winklevoss Twins’ $21M Donation

• The Winklevoss twins supported the Digital Freedom Fund PAC to help the Republicans retain control of both houses.
• The $21 million donation will play a crucial role in introducing clear crypto regulations in the United States.
• John Deaton lost the U.S. Senate race in Massachusetts to incumbent Senator Elizabeth Warren.

Crypto lawyer John Deaton has commended Gemini co-founders Cameron and Tyler Winklevoss for their latest move to champion pro-crypto regulations in the U.S. On Wednesday, the Winklevoss twins donated 188.4547 Bitcoin (BTC), valued at about $21 million, to the recently created Digital Freedom Fund PAC.

Deaton praised the Winklevoss twins as part of the “good force” in the industry, counteracting bad actors like Sam Bankman-Fried and Do Kwon. Moreover, the Gemini co-founders have remained consistent in enabling mainstream adoption of digital assets including donating more than $1 million to the Donald Trump campaign in 2024.

“Crypto has plenty of good guys wearing white hats and Cameron and Tyler are definitely on that list,” Deaton noted.

Worth noting that Deaton has been eying the Massachusetts Senate seat, which he lost to Elizabeth Warren. 

What Will the Digital Freedom Fund PAC Focus On?

According to Tyler Winklevoss, the $21 million donation is specifically focused on helping President Donald Trump retain control of both Houses in the upcoming midterm elections. He warned that if Democrats regain control, the President’s pro-crypto agenda would be “derailed.”

“We know from their past behavior that they will resort to whatever bad faith tactics and tricks they can think of to try to derail the President. We don’t want that. We want the American Golden Age and we are ready to fight for it. And we don’t just want another year of it, we want three more years of it,” Tyler noted. 

Tyler noted that the Digital Freedom Fund PAC will work with other crypto groups to make America the crypto capital of the world.

The Broader Push for US Crypto Adoption

The expected impact of the Digital Freedom Fund PAC is mainstream adoption of crypto assets and Web3 products. The United States controls about 25% of global economic activities, thus making its crypto adoption a huge deal.

The Trump administration has already passed the GENIUS Act to clarify stablecoin rules, a move lauded by the US Treasury Secretary. Meanwhile, lawmakers have been working on other key legislation. As detailed in our report, the US House Prepares to Approve Crypto Market Structure Bill, which will bring about regulatory clarity.

This clearer regulatory environment has already helped institutional investors enter the space. Data from BitcoinTreasuries shows 297 entities including governments and private companies have accumulated 3.67 million Bitcoins for their treasury management.

Additionally, the U.S. spot BTC ETFs and spot Ether ETFs have grown exponentially to total net assets of about $147 billion, $26.8 billion respectively.