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Kraken Donates $1M to Pro-Trump PAC to Support Crypto Privacy Rights

by admin September 24, 2025



In brief

  • Kraken co-CEO Arjun Sethi announced $1 million donation to the Digital Freedom Fund PAC and increased the commitment to America First Digital to $1 million.
  • Arjun Sethi said crypto embodies “the right to self-determination” and warned of “attempts to criminalize infrastructure.”
  • Winklevoss twins previously donated over $21 million in Bitcoin to launch the explicitly pro-Republican Digital Freedom Fund PAC.

Crypto exchange Kraken said Tuesday it will donate $2 million to a pro-Trump crypto group as the platform mobilizes in “a fight for the core rights of individuals in a digital age.”

Kraken co-CEO Arjun Sethi announced a $1 million donation to the Freedom Fund PAC and said the company would also raise its 2025 commitment to the pro-Trump group America First Digital to $1 million.

“The fight for crypto in the United States is far from over,” Sethi tweeted Tuesday.

He warned crypto’s foundational principles face threats from “regulatory uncertainty,” “enforcement by headline,” “attempts to criminalize infrastructure,” and “bans on privacy tools,” calling these “constitutional questions about how financial freedom fits into a free society.”



Sethi tied Bitcoin’s origins to “a peaceful revolution” and noted how that crypto’s ideals are “the right to self-determination” and “extensions of the Bill of Rights, rendered in code.”

America First Digital is led by Jason Thielman, former executive director of the National Republican Senatorial Committee, and senior advisor Kristin Walker, a former chief of staff to Senator Cynthia Lummis, who reintroduced the BITCOIN Act in March to authorize $80 billion in Bitcoin purchases for a strategic reserve.

“By explicitly tying campaign financing to the ideals of ‘financial freedom,’ crypto leaders are no longer content with defensive lobbying,” Raj Kapoor, founder and CEO of the India Blockchain Alliance, told Decrypt. “They are moving into ideological territory, aligning digital assets with constitutional values.”

Federal authorities have recently targeted the founders of Bitcoin mixer Samourai Wallet and Ethereum privacy protocol Tornado Cash, with developers facing criminal charges for allegedly facilitating money laundering.

With the donation, Sethi said Kraken backs the right to “self-custody” assets, building decentralized systems “without permission,” opting out of “surveillance-based finance,” and accessing “open, composable infrastructure.”

The announcement drew immediate support from crypto industry figures, including Gemini co-founder Tyler Winklevoss, who welcomed Kraken’s participation.

It was the Winklevoss twins who contributed over $21 million in Bitcoin last month to launch the Digital Freedom Fund.

Unlike other crypto PACs that maintain nonpartisan facades, Cameron and Tyler Winklevoss explicitly stated their PAC will work to support Republicans, defeat Democrats, and advance Trump’s crypto agenda in the 2026 midterms.

Meanwhile, Fairshake, crypto’s largest super PAC, raised nearly $300 million in 2024 from Coinbase, Ripple, and Andreessen Horowitz, spending across both parties to keep digital assets from becoming a partisan wedge issue.

“Such political donations are common in the U.S., and these funds are expected to increase industry influence, as crypto leaders push for more pro-friendly policies from the current administration,” Sudhakar Lakshmanaraja, founder of blockchain education platform Digital South Trust, told Decrypt. 

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September 24, 2025 0 comments
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Meta created its own super PAC to politically kneecap its AI rivals
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Meta created its own super PAC to politically kneecap its AI rivals

by admin September 16, 2025


Mark Zuckerberg created a personal super PAC to kneecap his AI rivals

In late August, two pro-AI super PACs were announced on the same day, intent on shaping the upcoming midterm elections. One was a fairly traditional super PAC, announced via a splashy press release, with multiple major industry players planning to donate over $100 million to boost AI-friendly candidates across the country.

The other was far more unusual. Meta had quietly filed to create the Mobilizing Economic Transformation Across (Meta) California, a state-only super PAC that would allow Meta to spend its own money to run political ads on behalf of their AI interests — and only their interests.

After the Supreme Court’s 2010 decision in Citizens United loosened campaign finance restrictions, corporations and the super-wealthy have poured billions into super PACs: political action committees that can accept unlimited amounts of corporate money to spend on ads, advocacy, and voter turnout during elections. (The only requirement is that they cannot directly coordinate with candidates or campaigns, or directly donate to them.)

But while corporations and individual billionaires have donated to super PACs, campaign finance experts tell The Verge that to their knowledge, it is exceedingly rare for a company to create its own super PAC — especially a company controlled by one person.

Thanks to a unique corporate ownership structure that gives him complete control of Meta, Mark Zuckerberg has essentially created his own personal California super PAC, allowing him to spend Meta’s money on politically protecting his priorities in the heart of the tech industry — and, possibly, against the interests of his corporate rivals. Meta confirmed that the company plans to spend tens of millions of dollars as part of the initial investment and said that it would figure out who had ultimate decision-making power over candidates to back, and whether Meta’s own social media products were used to promote those candidates, once the super PAC was up and running.

“It’s essentially a way for [Zuckerberg] to spend the company’s money on his political choices, whereas at a company like Google, there’s not a single person who’s a majority shareholder who can dictate what the company does,” Rick Hasen, a UCLA law professor specializing in election law, told The Verge. “It’s interesting, because Zuckerberg could just spend his own personal money to do this. But instead, he’s doing it through the company.”

In a statement to The Verge, Meta’s VP of public policy, Brian Rice, said that Meta launched the super PAC in order to back “candidates regardless of party who recognize California’s vital role in AI development and embrace policies that will keep the state at the forefront of the global tech ecosystem.”

”As home to many of the world’s leading AI companies, California’s innovation economy has an outsized impact on America’s economic growth, job creation, and global competitiveness,” Rice said. “But Sacramento’s regulatory environment could stifle innovation, block AI progress, and put California’s technology leadership at risk.”

Certain aspects of the Meta super PAC are not unprecedented. In 2024, the crypto industry launched several super PACs to push anti-crypto elected officials out of office and replace them with allies. Nor is it unprecedented for an individual billionaire to fund a super PAC: in the same election Elon Musk spent over $235 million to boost Republican candidates via his own personal super PACs.

But Musk used his own personal funds for those super PACs, giving him the freedom to back his candidates without answering to shareholders. The crypto super PACs were coalitions, and all the participating companies would benefit as a whole industry.

Individual tech companies have entered the super PAC game occasionally. Earlier this year, Airbnb established one in New York City to influence the heated mayoral election. And Uber has several super PACs across the country, including California. But neither company was operating in a landscape so full of other potential competitors, and neither has remotely the same financial clout.

Leading the Future, the other AI super PAC, is running the crypto playbook. On launch day, LTF announced that it had already brought several AI heavy hitters on board — Andreessen Horowitz, Perplexity AI, Ron Conway, and Joe Lonsdale, to name a few — and planned to bring in more. They also planned to launch committees both on the state and federal level, leaving open the possibility that they could launch a California super PAC. (Leading the Future did not respond to a request asking if Meta had been invited to participate, or if they planned to file in California.)

But why, then, would Zuckerberg go it alone? “There’s nothing preventing this Meta super PAC from adding new partners,” Saurav Ghosh, the director of federal campaign finance reform at the Campaign Legal Center, told The Verge. “But I think what they would give up in that situation is the control that you have when [the super PAC] is entirely funded by one company.”

In other words, Meta’s first priority is not to convince the public to come to their side, since holding Big Tech accountable is often a bipartisan issue — especially during a time when Meta is being lambasted over reports of suppressing research on child online safety. Instead it’s about convincing politicians to vote Meta’s way, and for that matter, Zuckerberg’s way.

That means Meta’s strategy could be the same as that of the crypto super PACs, with one twist. Though they often disagreed on whom to back, the crypto PACs ultimately had the shared goal of ousting politicians threatening to crack down on the industry. But Meta could run attack ads against candidates that don’t support their interests — even if they’re pro-AI, but in a way that favors Meta’s competition.

“The threat of a super PAC is not that, Oh, Big Tech is going to be running pro-Facebook messaging in my race and a voter might come to me and say, ‘Now, why aren’t you standing up for Facebook?’ No, the threat is that a big tech company is going to give hundreds of millions of dollars to help your opponent win,” Sacha Haworth, executive director of the nonprofit Tech Oversight Project, told The Verge.

It makes sense for Meta to focus its fire specifically on California. Although the AI industry and lawmakers fully agree that there should be a nationwide law regulating the use of artificial intelligence, it’s highly unlikely that Congress will pass any comprehensive AI regulatory bill anytime soon. Their last attempt to vote on a major AI-related bill — a 10-year moratorium on states writing their own AI laws — died in the Senate, 99 to 1, during the passage of the One Big Beautiful Bill earlier this year.

California, meanwhile, has passed some of the strongest AI laws in the US and is now proposing what would be the most stringent standards in the country. SB 53, for instance, would compel AI companies to disclose and publicly adhere to their safety protocols; its critics claim that the regulations would stifle the industry’s growth and drive companies out of state.

In the absence of Congress, California’s proposed laws would effectively set the standards for the entire AI industry. The industry is largely based in California, and so are nearly 40 million residents those companies are competing to serve.

As such, the timing of Meta’s and LTF’s announcements was not lost on Sacramento’s lawmakers. Just as the California state legislature is wrapping up its yearly session — just before Gov. Gavin Newsom enters a 30-day decision period to sign or veto bills — they received an announcement that “there are two new AI super PACs focusing on California coming after them,” Haworth said. “It was designed for maximum intimidation.” The timing could be aimed at Newsom himself; there’s a governor’s race next year, after all, and the 2028 presidential election after that.

“Don’t forget, every politician, especially the governor of California — people have larger ambitions,” Haworth said. “What happens now will follow them. There are all kinds of implied threats here.”

Even before August, lobbying was ramping up in California. According to data from the state of California, Big Tech companies spent about $2.5 million on lobbying in the state during the first half of this year. For reference, in 2024, Google, Amazon, Waymo, Meta, and the Computer & Communications Industry Association were all among the top 100 lobbying expenditures in California. Those specific companies spent a combined $22.5 million for the whole year. Barring the fact we don’t have public third-quarter data available yet, there’s a good chance we’re likely to see tens of millions spent for the rest of 2025.

“They have oodles and oodles of lobbyists, and this is when they’re meeting with lawmakers multiple times a day — and all of this is happening at the same time members in California wake up in the morning and they see an announcement [about the super PAC],” Haworth said. “They’re trying to do at the ballot box what they can’t do legally. They’re going to try to buy off politicians.”

The fact that LTF and Meta are running two separate pressure campaigns, however, is telling.

“I just don’t think Meta was invited to the other AI party,” Haworth said, adding, “Look, you have Mark Zuckerberg trying to poach employees from every other AI company, from OpenAI especially, offering them packages in the hundreds of millions of dollars, and failing in a lot of cases.”

Dave Kasten, head of policy at Palisade Research, made a similar point — that at their core, people are people, and Zuckerberg may have ruffled too many feathers in his quest to poach top-tier research talent. “If I were listing hypotheses, that’s probably pretty high on my list of why this is happening,” he said.

On the other hand, Zuckerberg’s decision to fly solo, at least when it comes to protecting Meta’s own political interests, is not completely unprecedented. In 2022, during Big Tech’s fight against proposed bipartisan antitrust laws, Meta primarily funded its own tech industry advocacy group, the American Edge Project, to further its agenda. And more than 10 years ago, Zuckerberg spearheaded the launch of FWD.us, an immigration reform nonprofit, with tens of millions pooled from himself and others in the tech industry looking to champion white-collar tech talent.

“I think part of it might just be that, attitudinally, that’s how he rolls,” Kasten said, adding that Meta’s past posture on open-source AI may also set its strategy apart if it chooses to continue on that route — meaning Meta may want to advocate for things that uniquely benefit its own AI strategy.

And it might not stop there. Hasen, the UCLA election law professor, told The Verge that there was nothing preventing Zuckerberg from using the Meta super PAC on issues beyond supporting pro-AI candidates.

In California alone, Meta could weigh in on tech-related ballot initiatives, which allow citizens to pass laws with a majority vote without going through the legislative process. There is some precedent for industry influence: in 2020, Uber, DoorDash, Postmates, Instacart, and Lyft spent over $180 million to pass Proposition 22, which would let rideshare companies classify their drivers as “independent contractors” and not employees. However, Yes on 22 was a political alliance between several direct competitors donating to one campaign.

But Zuckerberg could also play a role in state elections with implications far beyond tech. In November, Californians will vote on whether to redraw California’s congressional map to add five more Democrat districts — a direct response to Texas Republicans redrawing their own map to gain a five-vote advantage in the House of Representatives. And next year, with Newsom ineligible to run for reelection due to term limits, Californians will have to vote for a new governor — a person that any tech corporation, Meta included, would love to directly influence.

“It doesn’t mean [Zuckerberg has] made the choice” to do that, Hasen added. “But since he controls the company, if [a super PAC] is something he didn’t want to do, I’m sure they wouldn’t be doing it.”

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September 16, 2025 0 comments
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Crypto Trends

Fellowship PAC Launches With $100M to Advance Crypto Policy Goals

by admin September 16, 2025



In brief

  • The PAC says it has lined up more than $100 million to support pro-Trump candidates in upcoming races.
  • FEC records show that the group was registered in August, but filings have listed no receipts or expenditures to date.
  • Its launch comes as crypto political spending grows.

Crypto is once again taking the stage in Washington with the launch of The Fellowship PAC, a new super political action committee that says it has lined up more than $100 million to back pro-Trump candidates.

A document from the Federal Election Commission confirms that the committee filed its statement of organization on August 7, but it wasn’t until Monday that the committee publicly announced its formation. The New York Times first reported the news.

“Transparency and trust is our differentiator,” the committee said in a statement, adding that the PAC aligns with the interests of crypto entrepreneurs, policymakers, and the public, alongside the broader goal of keeping America’s lead in “digital assets and entrepreneurship.”



It’s worth noting, however, that the Fellowship PAC has only filed its registration paperwork so far. The gap between pledged money and official reports leaves questions about how much cash the PAC has actually banked.

Per the filing, no contributions or expenditures have been reported, with the PAC being designated as an “independent expenditure-only political committee.”

Representatives for the committee did not immediately return Decrypt’s request for comments on this point.

The Fellowship PAC outlines a mission to safeguard America’s role as the global leader in digital assets and entrepreneurship.

Its stated focus includes supporting candidates who back predictable rules for crypto, protecting the nation’s competitive edge in technology, and preventing the flight of talent overseas.

The Fellowship PAC’s emergence comes as lawmakers weigh multiple crypto-related bills on Capitol Hill, including those on market structure, while regulators continue to press for stricter oversight of digital assets.

The timing suggests the industry is preparing to defend its position heading into the 2026 midterms, when control of both chambers will be contested.

Political action committees aligned with the crypto industry have been steadily expanding their footprint in U.S. elections, pouring at least $119 million in the 2024 cycle prior to the November elections, according to a study from Public Citizen.

As the polls closed, the total surpassed $300 million, according to a D.C. insider who told Decrypt at the time that many other industries are likely to take note of what the crypto industry has achieved.

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Crypto Trends

New US Crypto PAC With $100 Million Fund: Three Essential Priorities Outlined

by admin September 16, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A new pro-crypto political action committee (PAC) has been established in the United States amid increased favorable legislation surrounding digital assets in the country under President Donald Trump’s second term in the White House. 

$100 Million To Boost Pro-Crypto Candidates

The Fellowship PAC, unveiled through a press release on Monday, has pledged over $100 million to support candidates who advocate for innovation and the cryptocurrency sector, aiming to maintain America’s status as a global leader in digital assets. 

What sets the Fellowship PAC apart from previous political efforts, according to their statement, is its commitment to transparency and trust. The organization emphasizes that its mission is to foster a political environment that supports the broader crypto ecosystem rather than serving narrow interests.

The new political action committee aims to build on the crypto regulatory framework being established under the Trump administration, which is viewed as a pathway for the US to become the world’s digital asset capital.

Progress has already been made in the form of the passage of the GENIUS Act for dollar-pegged cryptocurrencies, also known as stablecoins, being one of the most notorious successes for the cryptocurrency industry this year. 

Super PACs Gear Up For 2026 Midterms

The Fellowship PAC’s objectives are clear: it seeks to support candidates dedicated to creating transparent and predictable regulations for digital assets. Additionally, the PAC aims to protect America’s edge in technology and entrepreneurship, ensuring that the innovation economy reflects American values of openness and fairness. 

A crucial focus will also be on preventing the migration of talent and entrepreneurs overseas by maintaining the US as the premier destination for innovation, supported by clear regulatory guidelines. The PAC’s press release also noted:

Our differentiator is transparency and trust. This initiative is designed to align the interests of crypto entrepreneurs, policymakers, and the public, fostering accountability as we work to advance the ecosystem. This is just the beginning; we have more initiatives planned.

The launch of the Fellowship PAC follows a year of notable activity among crypto-focused political action committees, which are gearing up to increase their influence in upcoming special elections across the country. 

As previously reported by Bitcoinist, super PACs like Fairshake, along with its affiliates Defend American Jobs and Protect Progress, have already invested approximately $136 million in supporting over 58 pro-crypto candidates during the 2024 election cycle. 

With over $100 million in resources ready for the 2026 midterms, Fairshake is positioned to make a significant impact, bolstered by contributions from major players in the digital asset space, including Coinbase, Andreessen Horowitz, and Ripple.

The daily chart shows the market’s total capitalization at $3.9 trillion. Source: TOTAL on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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September 16, 2025 0 comments
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AI Titans Back $100 Million Super PAC to Boost Industry’s Status in Washington

by admin August 25, 2025



In brief

  • Top AI firms and tech leaders, including Andreessen Horowitz and OpenAI’s Greg Brockman, unveiled a $100 million fund to back pro-AI candidates.
  • The fund, which mirrors crypto PAC Fairshake, will target races in California, New York, Illinois, and Ohio this year before moving to federal contests and the 2026 midterms.
  • Supporters say the effort is needed to secure U.S. leadership in AI and to push back against policies that could slow innovation.

A handful of America’s most powerful AI companies, investors and tech entrepreneurs announced Monday the creation of a $100 million political spending fund aimed to support candidates “aligned with the pro-AI agenda” in state and federal races over the next two years. 

Leading the Future shares much DNA with similar political spending operations used by the crypto industry. The AI fund is backed by Andreessen Horowitz, one of the core contributors to Fairshake—-the $300 million pro-crypto PAC that successfully upended the 2024 election. Both Leading the Future and Fairshake are also helmed by the same political strategist, Josh Vlasto. 

Other backers of Leading the Future include OpenAI co-founder Greg Brockman, Silicon Valley venture capitalist Ron Conway, Palantir co-founder Joe Lonsdale, and Perplexity.



Leading the Future plans to get involved in primary and general elections at both the state and federal level, and will oppose candidates who do not support a “pro-innovation” agenda ensuring the United States’ global dominance in AI, the group said. 

The organization intends to, through a network of super PACs and nonprofits, begin spending this year on state races in California, New York, Illinois, and Ohio—hotbeds of AI development in the United States. It will then expand to federal races ahead of the 2026 midterm elections. 

A source familiar with the fund’s operations told Decrypt that the success of pro-crypto political spending groups like Fairshake offered a blueprint for AI leaders to now follow.

AI and crypto, though, while both emergent tech industries with deep pockets, are two different beasts in the policy arena. Going into 2024, crypto was struggling, with a slew of scandals plummeting the industry to an all-time low level in political salience. A historic political spending spree reversed those fortunes entirely, partly by directing ire squarely at easily identifiable enemies like then-SEC chair Gary Gensler and Sen. Elizabeth Warren (D-MA).

AI, on the other hand, does not currently have its own version of a Gensler or Warren to target. The industry is a firmly ascendant cause in the second Trump administration, and no contingent of the Democratic Party has staked out positions in opposition, as once occurred with crypto. 

But crypto’s remarkable political spending success story didn’t just influence election outcomes. It also appears to have put substantial pressure on lawmakers to quickly pass legislation favorable to the industry. Amid hyper-partisan tensions in Washington, Congress passed a major crypto bill at breakneck speed, with crucial support from Fairshake-backed candidates.

When asked whether any lawmakers currently in office should be considered “anti-AI”—or if not, what the purpose of Leading the Future then is, a spokesperson for Andreessen Horowitz referred Decrypt to an X post made this morning by Collin McCune, the venture firm’s head of government affairs. 

“Policymakers in Washington and our state capitals are weighing thousands of proposals right now that could make it impossible to build,” McCune said. “The only way to counter entrenched interests and outdated thinking is to make sure builders have a voice at the table.”

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August 25, 2025 0 comments
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Winklevoss Twins Donate $21 Million in Bitcoin to Pro-Trump, Anti-Democrat Crypto PAC

by admin August 21, 2025



In brief

  • Cameron and Tyler Winklevoss donated over $21 million in Bitcoin to help launch the Digital Freedom Fund, a pro-crypto PAC.
  • Unlike most crypto PACs, which aim to stay nonpartisan, the twins explicitly said their PAC will work to support Republicans, defeat Democrats, and back Trump’s crypto agenda in the 2026 midterms.
  • The PAC’s goals include pushing for a lightly regulated crypto market structure bill, blocking a U.S. central bank digital currency (CBDC), and protecting software developers.

Cameron and Tyler Winklevoss announced Wednesday that they have donated over $21 million worth of Bitcoin to a new pro-crypto PAC—one they proudly unveiled will be principally focused on defeating Democrats and supporting Republicans in the 2026 midterms.

“We will identify and support champions of President Trump’s crypto agenda in primary races and the midterm elections,” Tyler Winklevoss said. “If the Republicans lose either the House or Senate in the midterms […] then Democrats will have power to slow down and interfere with President Trump’s agenda.”

The PAC, dubbed the Digital Freedom Fund, will be focused first and foremost on supporting President Donald Trump’s crypto agenda, the brothers said. To kick-start the initiative, they have donated 188.4547 BTC—a sum worth about $21.5 million at writing.

Today, @cameron and I donated $21 million in bitcoin (188.4547 BTC) to the Digital Freedom Fund PAC. The mission of the @FreedomFundPAC is to help realize President Trump’s vision of making America the crypto capital of the world. Since inauguration, @POTUS and his Administration…

— Tyler Winklevoss (@tyler) August 20, 2025

The openly partisan move from the Gemini co-founders is perhaps unsurprising in light of their enthusiastic endorsement of the president’s campaign in mid-2024, months before other industry leaders embraced the polarizing leader. 

But most other pro-crypto political spending groups have taken pains to, at the very least, appear nonpartisan. 

In 2024, top donors to Fairshake, the $300 million crypto super PAC behemoth, made what they at the time considered to be a difficult choice to endorse certain pro-crypto Democrats over reliably supportive Republican candidates, in the aim of not making crypto a partisan issue. 



Even now, as leaders of crypto’s most powerful companies lavish the Trump administration with praise and hobknob with the president’s advisors, they continue to publicly frame their lobbying efforts as decidedly politically agnostic.

The Winklevoss twins, however, are taking a different path into the 2026 midterms. 

They do maintain that their new political spending organ will be focused on crypto policy matters, including aiding the passage of a “skinny” crypto market structure bill that imposes few regulations on the sector, banning an American central bank digital currency, or CBDC, and legally enshrining protections for software developers.

But the brothers also explicitly stated Wednesday that they believe they can only achieve said goals by defeating Democrats in the upcoming midterms. 

“We know from their past behavior that they will resort to whatever bad faith tactics and tricks they can think of (e.g., bogus impeachments, lawfare, etc.) to try to derail the president,” Tyler Winklevoss said of the Democratic Party, should it regain control of either chamber of Congress next year. 

“We want the American Golden Age and we are ready to fight for it,” he continued. “And we don’t just want another year of it, we want three more years of it.”

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