Tyler Winklevoss@tyler
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 have been delivering on the promises they made on the campaign trail and then some. We want this unprecedented progress and momentum to continue. Our goal is to support President Trump and his Administration’s efforts to continue to usher in America’s Golden Age. To do so, the Digital Freedom Fund will focus on the following:
Winning the Midterms. We will identify and support champions of President Trump’s crypto agenda in primary races and the midterm elections. President Trump’s victory on November 5, 2024, was a historic landslide. Not only did he win the popular vote and the Electoral College, he helped Republicans win back control of the Senate and the House. This cleared the way for President Trump to execute on his agenda with unparalleled speed since his inauguration almost 7 months ago. But if the Republicans lose either the House or Senate in the midterms on November 3, 2026 (only 1 year and 2 months away), then Democrats will have power to slow down and interfere with President Trump’s agenda. 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. 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.
Thoughtful Legislation. We will fight for thoughtful Market Structure legislation that enshrines the freedoms that will allow the crypto industry to thrive and avoids the pitfalls of overregulation, bloated licensing regimes, and increased red tape that only serves to choke off innovation, grow the Regulatory Industrial Complex, and empower the swamp. We will fight against legislation that attempts to recreate Dodd-Frank for crypto, impose double standards, and force double registration, duplicative costs, and solutions in search of problems upon our industry. Which means we will fight for a Skinny Market Structure Bill that is lean and mean. One that cements timeless, permanent ideas into law, limits government overreach, and clears the path for builders to build. Builders don’t need more paperwork that requires them to hire lawyers, consultants, and lobbyists. They need fundamental protections, fair treatment, and for the government to stop meddling. This entails:
-Bitcoin & Crypto Bill of Rights. We will fight for legislation that includes a Bitcoin & Crypto Bill of Rights that codifies your right to own, self-custody, and transact peer-to-peer (p2p) with bitcoin and crypto.
-Protections for Software Developers. We will fight for legislation that protects software developers and publishers. We must protect those who write and publish code. Liability should not run directly to those who build technology, but rather to bad actors who misuse technology. In just 26 words, Section 230 of the Communications Decency Act of 1996 “created the Internet” by providing similar protections and immunities for online web platforms, which allowed the Internet to flourish. Similar protections will enable crypto to flourish too.
-Anti-CBDC. We will fight for legislation that bans Central Bank Digital Currencies (CBDCs) and other totalitarian technologies that tread on your freedoms and can be easily wielded by power hungry politicians and unelected bureaucrats to encroach upon and take away your liberty.
-Fair Access to Banking. We will fight for legislation that ensures Fair Access to Banking for all and codifies your right to be banked, regardless of your political beliefs, religious beliefs, or the lawful business activities that you are engaged in. This legislation should make it a criminal offense for anyone to try to mastermind Operation Chokepoint 3.0.
-Open Banking. We will fight for legislation that protects and promotes Open Banking, which allows you to access your financial and banking data for free via third-party apps that you authorize. You should be able to easily link your bank accounts to whatever financial app you so choose, so you can move your capital to wherever you see fit. Ownership and control of your financial and banking data is a human right and foundational to the proper functioning of the system of capitalism that our country was founded on.
-Mandatory Rulemaking and Exemptions. We will fight for legislation that requires the appropriate financial regulators to engage in mandatory rulemaking and use their existing statutory exemptive authority to open their doors and expand their existing licensing regimes to accommodate crypto in a technology neutral way, forever.
Propel Project Crypto. The release of the President’s Working Group report (PWG Report) — Strengthening American Leadership in Digital Financial Technology — on July 30, 2025, was a watershed moment in the history of our industry and our country. Building on these recommendations, SEC Chairman @SECPaulSAtkins delivered a speech a day later titled, “Project Crypto,” that shook the earth. For those of us who have been building in crypto for a while, it was almost hard to believe. It was everything we had ever hoped for and more. For the first time, a regulator was meeting the moment with the kind of leadership and a plan that would allow America to become the crypto superpower of the world. The following day, CFTC Acting Chairman @CarolineDPham announced the “Crypto Sprint” to begin implementing the recommendations of the PWG Report at the CFTC and “work closely with SEC Chairman Paul Atkins and Commissioner Hester Peirce to achieve Project Crypto.” Together, these recommendations and efforts support the vision for the future that the crypto industry wants and needs. We will fight for this vision and help bring it to life.
Reject Regulatory Capture. We will fight for a level playing field for all. We believe in the power and morality of free markets for everyone and reject any strategy, individual, or group that attempts to engage in behavior that creates unfair regulatory moats, increases barriers to entry for market participants, or puts a thumb on the scale for one company over another. The cost to enter the crypto market and do business in a licensed, compliant, and regulated manner should be within reach of any startup, including those founded in a dorm room or garage, not just deep-pocketed incumbents.
For example, the average cost to register a company in the United States is $150 dollars and takes a few minutes online. This is attainable for a kid in high school or college. In contrast, the average cost to register a company in Haiti is more than $23,000 US dollars and takes 25 weeks or half a year. This is not attainable for a kid in high school or college, let alone the vast majority of people. For obvious reasons, we want the experience for crypto startups in the United States to be more like registering a company in the United States than like registering a company in Haiti. Regulatory capture (e.g., a Fat Market Structure Bill or the end of Open Banking) creates, intentionally or unintentionally, Haiti-like conditions. In theory anyone can enter the market, but in practice the cost of doing business is just too high for the kid with an idea and a dream. We want everyone to be able to compete. If you can’t win in a free and open market, then you don’t deserve to win at all.
The above focuses are not exhaustive. The Digital Freedom Fund will work with similarly aligned pro-crypto groups and look to identify and support other issues, like the de minimis tax exemption for bitcoin and other crypto transactions, that will unleash the potential of these technologies, our industry, and America. And our private position will always be the same as our public position on these matters. If you have suggestions of other policy areas that we should focus on, please let us know. And if your world view aligns with ours and you want to fight to make America the crypto capital of the world, please join us. Thank you for your attention to this matter!
