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Crypto enthusiast billionaires, including the Winklevoss brothers, are making donations to the presidential candidates. (AP Photo/Richard Drew)
Associated Press
Here’s Whom Pro-Crypto Billionaires Have Endorsed
The three-comma club is bringing big money and bigger opinions to the campaign stage. Gemini cofounders Tyler and Cameron Winklevoss—each with an estimated net worth of $2.7 billion—donated about $1 million in bitcoin to Trump’s campaign. Meanwhile, Ripple’s cofounder Chris Larsen, worth an estimated $3.1 billion, has publicly endorsed Harris, with $1.9 million in donations so far and an additional pledge of $10 million in Ripple’s native currency, XRP.
Mark Cuban, owner of the Dallas Mavericks and who Forbes estimates is worth $5.7 billion, has also voiced support for Harris, though he hasn’t contributed financially to her campaign. Marc Andreessen, cofounder of the powerhouse venture capital firm Andreessen Horowitz with an estimated worth of $1.8 billion, reportedly donated $2.5 million to a pro-Trump super PAC, while Ben Horowitz, his firm partner and a former Trump supporter, has flipped to back Harris. And in a rare bipartisan approach, venture capitalist Tim Draper said he had donated “roughly equal amounts” to both Harris and Trump, citing his optimism about “either path.” Read more.
This Startup Promises Fully Private VPNs
In a world where personal data is the new currency, virtual private networks (VPNs) have become essential for protecting privacy. However, many VPN providers ironically fund their operations by selling user data—undermining the very privacy they promise to protect. Nym Technologies, a Swiss-based blockchain startup, is taking a radically different approach with its product, NymVPN, which claims to deliver a truly private VPN experience.
Unlike conventional VPNs that rely on subscription revenue and data sales, NymVPN operates on blockchain-backed “self-sustaining economics.” Founder Harry Halpin’s approach ties into a new crypto category called DePIN or decentralized physical infrastructure. Here, blockchain and native tokens act as the VPN’s payment rail, eliminating the need to monetize user data. Read more.
Sources: Forbes Digital Assets, CoinGecko. Prices as of 3:40 p.m. on October 25, 2024.
Solana Rallies On Memecoins
Solana’s native token, SOL, has been on a tear, rocketing past $175 for the first time in nearly three months—all thanks to a speculative memecoin mania that’s made Solana the blockchain of choice for viral assets (The network is known for high-speed, low-cost transactions).
AI-driven agents like Truth Terminal, a Marc Andreessen-funded bot, are pushing this frenzy to new heights. The biggest name in this spectacle: memecoin named Goatseus Maximus (GOAT). Launched on October 10 by an anonymous developer using the fast-growing launchpad pump.fun, GOAT soared from zero to above $600 million in market value within two weeks, largely fueled by Truth Terminal’s social media endorsements. This hype hasn’t just boosted GOAT’s value—it’s driving network revenues in excess of $4 million per day in transaction fees (a tenfold increase since September, according to Token Terminal) and pushing active users to record-breaking numbers above 8 million.
Elsewhere
How Two Allies Wrestled Over A Crypto Giant and a Prisoner [New York Times]
Meet ZachXBT, The Masked Vigilante Tracking Down Billions In Crypto Scams And Thefts [Wired]
A Wave Of Crypto-Friendly Lawmakers Is About To Crash Congress [Politico]