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Tyler Winklevoss and Cameron Winklevoss (L-R), creators of crypto exchange Gemini Trust Co., on stage at the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mana Convention Center in Wynwood in Miami, Florida, on June 4, 2021.

Joe Raedle | Getty Images

Cameron and Tyler Winklevoss are the biggest individual crypto donors this election cycle, giving a combined $10.1 million, or slightly over $5 million each, according to Federal Election Commission data compiled by crypto market and blockchain analyst James Delmore and independently verified by CNBC.

With 50 days to go until the November general election, political donations from, or in support of, the crypto industry are up to around $190 million, as some of the biggest names in the sector open their digital wallets to help elect candidates sympathetic to their interests.

The Winklevoss twins gave around $1.7 million combined in bitcoin to the Trump 47 Committee, which raises money for Republican former President Donald Trump, over $700,000 combined to the pro-Trump Make America Great Again PAC, $250,000 each to the pro-Trump America PAC, and $4.9 million to the bipartisan pro-crypto Fairshake PAC.

Top executives from blockchain giant Ripple Labs have collectively given more than $3 million to candidate committees and super PACs so far this cycle, with co-founder Chris Larsen donating nearly $2.4 million of that, mostly to help Democratic candidates. Ripple CEO Brad Garlinghouse has donated more than $384,000 to multiple PACs and candidates, including to Rep. Ro Khanna (D-Calif.) and John Deaton, a Republican running against Democratic Sen. Elizabeth Warren in Massachusetts. The company’s chief legal officer, Stuart Alderoty, gave $300,000 to the Trump 47 Committee.

At a fundraiser for Trump in June, Alderoty explained how Ripple had spent over $100 million litigation to defend itself against civil charges brought by the SEC. The event was held at the San Francisco mansion of venture capitalist David Sacks.

The Winklevoss twins, Coinbase and Ripple didn’t immediately respond to requests for comment.

The month after the San Francisco fundraiser, Trump promised to fire SEC Chair Gary Gensler if he were elected, even though U.S. presidents do not have the authority to fire members of independent commissions without cause. While the incoming president could unseat Gensler from his position as chairman, he would remain on as a commissioner until the end of his term.

Tech for Trump: Silicon Valley investors turn against Biden

Under Gensler, the SEC has taken on major industry players, including centralized cryptocurrency exchanges Kraken and Coinbase.

Executives from the two companies have been spending big this cycle. Coinbase CEO Brian Armstrong has given over $1.3 million to a mix of PACs including Fairshake and JD Vance for Senate Inc., as well as directly to Democrats and Republicans running for both House and the Senate seats. Chief Legal Officer Paul Grewal has attended at least two Trump fundraisers, including one in Nashville on the sidelines of the biggest bitcoin event of the year.

Kraken co-founder and Chairman Jesse Powell has donated just over $1 million to the Trump campaign.

Individual crypto contributors include ex-Bitfinex strategy chief Phil Potter (over $1.6 million), Multicoin Capital’s Kyle Samani ($878,600), Paradigm co-founder Fred Ehrsam ($735,400), Union Square Ventures partner Fred Wilson ($1,4 million), Paxos CEO and co-founder Charles Cascarilla ($198,500), BitGo CEO Mike Belshe ($119,825), Solana co-founder Anatoly Yakavenko ($67,100), and Gibraltar-based Xapo Bank founder Wences Casares ($374,899).

According to Delmore’s report, no known donations have been made in cryptocurrency to the Future Forward PAC, which is raising funds for Vice President Kamala Harris, the Democratic nominee for president. Future Forward began accepting crypto donations this month through a partnership with Coinbase Commerce. It appears the donation page on the website still doesn’t offer a crypto option.

Crypto companies outspend Big Oil and banks in 2024 elections

CNBC reached out to two representatives from Future Forward listed on the PAC’s FEC filing to ask about the tally of crypto donations thus far and when it plans to add a crypto payment option on its website. They didn’t immediately respond.

Harris’ fundraising operation has taken off since President Biden dropped out of the race, with her campaign raising $47 million in the first 24 hours after her first, and perhaps only, debate against Trump on Tuesday.

Huge jump from 2020

Delmore, who has been assembling reports on crypto donations in the 2024 election for blockchain analytics platform Breadcrumbs, told CNBC that industry spending is nearly double where it was in the mid-terms — more than $190 million in the 2024 election versus $98 million in the 2022 election. It’s nearly 13 times spending in 2020 of $15 million — a figure based on a mix of data from FEC and OpenSecrets filings.

Unlike the past two election cycles, which featured spending from the now-bankrupt crypto exchange FTX and founder Sam Bankman-Fried, this year’s contributor list is more robust and diverse. Bankman-Fried was sentenced to 25 years in prison in March for stealing $8 billion worth of customer money through FTX.

“Most of the crypto donations in 2022 were from FTX and SBF and almost all of them went to Democrats or PACs that support Democrats,” Delmore said.

Delmore said that spending is more balanced between the two parties, but “more has definitely gone to Republican candidates and PACs that supported Republicans and opposed Democrats.”

A Public Citizen report last month found that nearly half of all the corporate money flowing into this year’s election has come from the crypto industry, with Coinbase and Ripple leading the pack.

There is a lot of overlap between crypto’s biggest corporate and individual spenders.

The majority of funds for Fairshake, one of the top-spending PACs this year, can be traced to four sources: Coinbase, Ripple, Jump Crypto and venture firm Andreessen Horowitz.

Widening the category to all of crypto, Delmore’s research finds that billions of dollars are at play, including more than $20 million in sales generated by non-fungible tokens (NFT) released by Trump, according to Bloomberg reporting, Trump-branded meme tokens, the $190 million in political donations from or in support of crypto, and another $1.1 billion on betting on the platform Polymarket.

So far, $922 million in bets have been placed on who will be the winner of the election, and another $206 million on who will win the popular vote

Electing pro-crypto candidates ultimately comes down to turning out the vote.

The Stand With Crypto Alliance, launched by Coinbase last year, is in the midst of a cross-country bus tour through battleground states to get people registered to vote. The campaign culminates in an event on DC on Wednesday that will include speeches by members of Coinbase’s C-suite, as well as a live performance by music duo The Chainsmokers.

WATCH: How Trump was ‘orange-pilled’

How Trump was ‘orange-pilled’ by three bitcoiners in Puerto Rico

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Parker launches Mobile Electrification Technology Center training program

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Parker launches Mobile Electrification Technology Center training program

Last week, Parker Hannifin launched what they’re calling the industry’s first certified Mobile Electrification Technology Center to train mobile equipment technicians make the transition from conventional diesel engines to modern electric motors.

The electrification of mobile equipment is opening new doors for construction and engineering companies working in indoor, environmentally sensitive, or noise-regulated urban environments – but it also poses a new set of challenges that, while they mirror some of the challenges internal combustion faced a century ago, aren’t yet fully solved. These go beyond just getting energy to the equipment assets’ batteries, and include the integration of hydraulic implements, electronic controls, and the myriad of upfit accessories that have been developed over the last five decades to operate on 12V power.

At the same time, manufacturers and dealers have to ensure the safety of their technicians, which includes providing comprehensive training on the intricacies of high-voltage electric vehicle repair and maintenance – and that’s where Parker’s new mobile equipment training program comes in, helping to accelerate the shift to EVs.

“We are excited to partner with these outstanding distributors at a higher level. Their commitment to designing innovative mobile electrification systems aligns perfectly with our vision to empower machine manufacturers in reducing their environmental footprint while enhancing operational efficiency,” explains Mark Schoessler, VP of sales for Parker’s Motion Systems Group. “Their expertise in designing mobile electrification systems and their capability to deliver integrated solutions will help to maximize the impact of Parker’s expanding METC network.”

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The manufacturing equipment experts at Nott Company were among the first to go through the Parker Hannifin training program, certifying their technicians on Parker’s electric motors, drives, coolers, controllers and control systems.

“We are proud to be recognized for our unwavering dedication to advancing mobile electrification technologies and delivering cutting-edge solutions,” says Nott CEO, Markus Rauchhaus. “This milestone would not have been possible without our incredible partners, customers and the team at Nott Company.”

In addition to Nott, two other North American distributors (Depatie Fluid Power in Portage, Michigan, and Hydradyne in Fort Worth, Texas) have completed the Parker certification.

Electrek’s Take

electric bobcat track loader
T7X all-electric track loader at CES 2022; via Doosan Bobcat.

With the rise of electric equipment assets like Bobcat’s T7X compact track loader and E10e electric excavator that eliminate traditional hydraulics and rely on high-voltage battery systems, specialized electrical systems training is becoming increasingly important. Seasoned, steady hands with decades of diesel and hydraulic systems experience are obsolete, and they’ll need to learn new skills to stay relevant.

Certification programs like Parker’s are working to bridge that skills gap, equipping technicians with the skills to maximize performance while mitigating risks associated with high-voltage systems. Here’s hoping more of these start popping up sooner than later.

SOURCE | IMAGES: Parker Hannifin.

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ReVolt extended range electric semi trucks score their first customer

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ReVolt extended range electric semi trucks score their first customer

Based on a Peterbilt 579 commercial semi truck, the ReVolt EREV hybrid electric semi truck promises 40% better fuel economy and more than twice the torque of a conventional, diesel-powered semi. The concept has promise – and now, it has customers.

Austin, Texas-based ReVolt Motors scored its first win with specialist carrier Page Trucking, who’s rolling the dice on five of the Peterbilt 579-based hybrid big rigs — with another order for 15 more of the modified Petes waiting in the wings if the initial five work out.

The deal will see ReVolt’s “dual-power system” put to the test in real-world conditions, pairing its e-axles’ battery-electric torque with up to 1,200 miles of diesel-extended range.

ReVolt Motors team

ReVolt Motors team; via ReVolt.

The ReVolt team starts off with a Peterbilt, then removes the transmission and drive axle, replacing them with a large genhead and batteries. As the big Pete’s diesel engine runs (that’s right, kids – the engine stays in place), it creates electrical energy that’s stored in the trucks’ batteries. Those electrons then flow to the truck’s 670 hp e-axles, putting down a massive, 3500 lb-ft of Earth-moving torque to the ground at 0 rpm.

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The result is an electrically-driven semi truck that works like a big BMW i3 or other EREV, and packs enough battery capacity to operate as a ZEV (sorry, ZET) in ports and urban clean zones. And, more importantly, allows over-the-road drivers to hotel for up to 34 hours without idling the engine or requiring a grid connection.

That ability to “hotel” in the cab is incredibly important, especially as the national shortage of semi truck parking continues to worsen and the number of goods shipped across America’s roads continues to increase.

And, because the ReVolt trucks can hotel without the noise and emissions of diesel or the loss of range of pure electric, they can immediately “plug in” to existing long-haul routes without the need to wait for a commercial truck charging infrastructure to materialize.

“Drivers should not have to choose between losing their longtime routes because of changing regulatory environments or losing the truck in which they have already made significant investments,” explains Gus Gardner, ReVolt founder and CEO. “American truckers want their trucks to reflect their identity, and our retrofit technology allows them to continue driving the trucks they love while still making a living.”

If all of that sounds familiar, it’s probably because you’ve heard of Hyliion.

Hyliion electric semi truck

Hyliion Hypertruck ERX; via Hyliion.

Before it changed its focus to develop Carnot-cycle generators and gensets, Austin-based Hyliion built a number of EREV Peterbilts using the then-new 15L Cummins diesel as a generator and employing the same sort of battery and e-axle-arrangement as ReVolt.

In addition to being located in the same town and employing the same idea in the same Peterbilt 579 tractor, ReVolt even employs some of the same key players as Hyliion: both the company’s CTO, Chandra Patil, and its Director of Engineering, Blake Witchie, previously worked at Hyliion’s truck works.

Still, Hyliion made their choice when they shut down their truck business. ReVolt seems to have picked up the ball – and their first customer is eager to run with it.

“Our industry is undergoing a major transition, and fleet owners need practical solutions that make financial sense while reducing our environmental impact,” said Dan Titus, CEO of Page Trucking. “ReVolt’s hybrid drivetrain lowers our fuel costs, providing our drivers with a powerful and efficient truck, all without the need for expensive charging infrastructure or worrying about state compliance mandates. The reduced emissions also enable our customers to reduce their Scope 2 emissions.”

Page Trucking has a fleet of approximately 500 trucks in service, serving the agriculture, hazardous materials, and bulk commodities industries throughout Texas. And, if ReVolt’s EREV semis live up to their promise, expect them to operate a lot more than 20 of ’em.

SOURCES | IMAGES: ReVolt; via Power Progress, TTNews.

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Costco Executive members get MASSIVE $31,500 off Chevy Brightdrop van

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Costco Executive members get MASSIVE ,500 off Chevy Brightdrop van

With 272 miles of range and more room inside its walls than your first apartment, GM’s Chevy Brightdrop electric van is one of the best commercial EVs you can buy. And if you’re a Costco Executive member, you can get one for yourself or your business with an absolutely incredible $31,500 discount. (!)

Fleet electrification expert Tony Nisam took to LinkedIn yesterday to post a deal that he ran across at a Washington State Costco that stacks a $25,500 manufacturer rebate with $3,000 in “regular” Costco Member Savings, $2,750 in “LIMITED-TIME” Manufacturer to Member Incentives, plus an additional $250 for Costco Executive members.

Do a bit of math (add up 25,500 + 3,000 + $2,750 + 250), and you’ll calculate an almost unheard of $31,500 discount on one of the best, most capable commercial vans on the market – ICE or electric. And that’s before you factor in the 0% interest financing (72 mo.) being advertised at Blade Chevrolet, the Mount Vernon, Washington, where VIN 2G58J2TY6S9104313 (the exact van shown, below) is shown as stock number 16757.

If you’re not a Costco member yet and you’re looking for a new truck for your business or even a unique #vanlife ride with zero emissions, modern tech, and a nationwide dealer network, GM makes that $130 Executive membership seem like a no-brainer.

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Kind of a big deal

“But wait,” says the floating, disembodied ghost of the great Billy Mays. “There’s more!” In addition to the $31,500 worth of discounts Costco Executive members get, there are deals to be had on chargers AND a number of other state and local utility incentives your business might qualify for, bringing the cost of adding a new Chevy Brightdrop to your fleet even lower. In northern Illinois, for example, ComEd commercial customers can get up to $7,500 in rebates for a new Brightdrop Zevo van.

Is a $39,000 price cut enough to get you to take a look at a new Brightdrop? At $45,235 (from a starting price of $84,235), can you afford not to? Head down to the comments and let us know.

SOURCE | IMAGES: Tony Nisam.

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