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.
Under Gensler, the SEC has taken on major industry players, includingcentralized cryptocurrency exchanges Kraken and Coinbase.
Executives from the two companies have been spending big this cycle. Coinbase CEO Brian Armstronghas 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.
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.
The latest automotive numbers in Europe were released for August, confirming that Tesla’s decline is continuing, but it has slowed down, with the company “only” being down 22%.
However, the most worrying part for Tesla is that it is happening while battery-electric vehicle sales were up 30% last month.
Tesla’s decline in Europe has been well-documented for the last two years, but it has accelerated significantly in 2025, with Tesla experiencing a monthly decrease of 30-40% year-over-year.
In somewhat good news for the company, the decline has slowed in August.
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The European Automobile Manufacturers’ Association (ACEA) released its report for sales in August 2025.
It confirms that Tesla delivered 14,831 vehicles in Europe (EU + EFTA + UK) in August 2025, down 22% from August 2024.
In comparison, the decline is not as alarming as previous months, but it now brings Tesla’s total deliveries year-to-date to 133,857 vehicles compared to 198,474 vehicles in 2024. That’s down -32.6%.
Where things start to get more alarming for Tesla is when you compare it to the broader EV market.
ACEA reports:
The YOY variation in August 2025 showed a rise of 30.2% for battery-electric and 14.1% for hybrid-electric cars, while plug-in-hybrid electric recorded its sixth consecutive month of continuous strong growth with a 54.5% increase.
Here are the results for August and year-to-date in EU + EFTA + UK:
Electrek’s Take
It should be alarming when the world’s biggest electric automaker sees its sales decline 22% in a market where electric vehicle sales are surging 30%.
There’s certainly something wrong that should be addressed.
Musk even commented on this ACEA report. Reuters published it and claimed that BYD outsold Tesla in the EU. Musk retweeted and commented on a post claiming that Reuters was misleading:
Reuters is not being misleading. BYD outsold Tesla 9,130 units to 8,220 units in the EU last month.
If they had said “Europe” rather than the EU, it would have been misleading, but they didn’t.
Tesla did outsell BYD in broader Europe, if you include EFTA (Iceland, Liechtenstein, Norway, and Switzerland) and the UK: 14,831 to 11,455 units.
Either way, I don’t know why he would want to get into that conversation whatsoever because in EU+EFTA+UK, BYD was up 215% last month compared to Tesla being down 22%.
Year-to-date, BYD is up 280% compared ot Tesla being down 32%.
At this pace, BYD is likely to outsell Tesla for the entire year, and the Chinese automaker is operating under tariffs in Europe, a market where it has only been present for about three years.
Elon has fully lost the plot.
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Hyundai Motor is recalling nearly 8,000 2023-2025 Genesis GV60 EVs due to a potential issue with the molding at the top of the windshield that may cause it to fall off.
Why is Hyundai recalling Genesis GV60 EVs?
After issuing a recall for nearly 600,000 Pallisade, IONIQ 5, and IONIQ 6 vehicles last week, you can add a few more to the list.
Hyundai is recalling certain 2023-2025 model year Genesis GV60 EVs due to a potential issue with the molding at the top of the windshield, which may peel or even detach while driving.
Those with impacted vehicles may hear a wind noise or whistling coming from the upper part of the windshield. After running internal tests, Hyundai found the issue was due to insufficient adhesion from the supplier.
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Although no crashes or injuries were reported, Hyundai is aware of 112 reports of molding detachment from October 26, 2022, through August 8, 2025.
Hyundai has since fixed the issue and estimates that only 1% of the 7,855 Genesis GV60 EVs being recalled actually have the defect.
The 2025 Genesis GV60 (Source: Genesis)
The company expects to mail owner notification letters on November 17, 2025. GV60 owners can contact Genesis customer service at 844-340-9741 with questions. Hyundai’s recall number is 028G.
Owners can also contact the National Highway Traffic Safety Administration Vehicle Safety hotline at 1-888-327-4236 or visit NHTSA.gov for more information. The NHTSA campaign number for the recall is 25V624.
The 2025 Genesis GV60 (Source: Genesis)
According to Cox Automotive, Hyundai sold 3,400 Genesis GV60 models in the US in 2023, 2,866 in 2024, and another 1,192 in the first half of 2025. So, that would be just about all Genesis GV60s sold in the US from 2023 through the first few months of 2025.
After dropping the Electrified G80 from its lineup earlier this year, Genesis now sells just two EVs in the US: the GV60 and Electrified GV70.
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A new software update from Rivian was sighted earlier this month, and it’s being prepared for a full rollout to Gen 2 R1S and R1T EVs. The latest Rivian update includes upgrades to the American automaker’s Enhanced Highway Assist driving, more energy-conscious home charging capabilities, and a slew of other improvements outlined below.
Update September 25, 2025: Rivian has confirmed the details of software update 2025.34 outlined below. However, we still do not have a concrete timeline for when the update will roll out to current R1S and R1T owners.
Like most software-defined vehicles, Rivian models like the R1S and R1T receive periodic updates over-the-air (OTA). As a Rivian owner and an enthusiast, software updates are often exciting news to report on, as they usually result in new features or abilities to existing technology or enable various efficiencies (and bug fixes fixes, of course).
Over the past six months, we’ve seen updates like 2025.10, which rolled out to the public in early April, and 2025.14, which updated the BEV’s Highway Assist feature. In late May, RivianTrackr shared that software update 2025.18 was rolling out internally before launching wide to Rivian owners, and it was one of the more robust rollouts we had seen for a while.
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Most recently, a similar site called RivianRoamer has reported on a new software update, 2025.34, which has already been spotted before it makes its way out to the public
Source: Rivian.com
Rivian software update adds new “Co-Steer” feature
Per reports, Rivian software update 2025.34 is in the works in a beta version before it inevitably makes its way to the community of R1S and R1T owners. That being said, please note that any of these listed features or improvements could change or be removed altogether before the update goes out wide.
The first notable upgrade pertains to the Enhanced Highway Assist ADAS in Gen 2 Rivian models. Right now, the pending software update will enable a new assist feature called “Co-Steer,” which will allow a driver to adjust their given position within a lane using “gentle steering inputs” without the Enhanced Highway Assist disengaging.
Speaking of Enhanced Highway Assist, Rivian shared that the availability of the ADAS feature has increased by up to 50%, particularly on urban and suburban highways. Lastly, the 2025.34 update includes a new perception model that improves lane centering performance, especially on curves.
Additionally, Rivian’s latest pending software update will allow your vehicle to automatically charge itself during off-peak times at your home when electricity is cheaper, ensuring your vehicle is ready when you need it.
According to the report, “smart scheduling” can cut annual home EV charging costs by 20% or more and increase your use of clean energy. You can enable this feature and monitor everything through your account in the Rivian app (version 3.5 or later).
Other updates and big fixes from 2025.34 (subject to change)
Audio improvements (Gen 2 Rivian models)
Fine-tuned equalization and delays to make the bass feel richer and more impactful
Soundstage improvements for better localization, separation, and layering
Improved blending of Dolby Atmos content for all listening positions
Performance improvements
Updated and improved media apps, including increased touchscreen responsiveness
Improved Navigation stability and responsiveness
Improved responsiveness to mobile commands while vehicle is asleep
Resolved rare issue that prevented users from accepting the terms of service for Rivian Navigation with Google Maps
Fixed issue that kept Gear Guard video thumbnails from displaying properly on the Motion Cam and Incidents screens
Resolved rare issue where the tonneau cover position is displayed incorrectly on certain screens of Gen 1 R1T models
Resolved rare issue that caused fog lights to turn off and exterior lights to revert to Auto mode (Gen 1)
Fixed issue that caused trip energy and efficiency data to fluctuate unexpectedly
Improvements to the accuracy of battery range on arrival estimates, including adding location air density as a factor for locations at higher elevations
Resolved rare issue that prevented the door handles from presenting for an unlock request while Car Wash mode is active (Gen 2 EVs)
Reduced excessive blower noise during climate control start-up in mild conditions while maintaining cooling performance in extreme temperatures (Gen 2 EVs)
Fixed rare issue that caused cabin conditioning requests initiated from the Rivian mobile app to fail on the first attempt (Gen 2 EVs)
Additional improvements for 12V battery health detection, including in-vehicle and mobile app notifications to alert you when the 12V battery needs to be replaced (Gen 2 EVs)
That’s all for now. As a reminder, the above release notes pertain to a beta version of the software update, and 2025.34 could be different when it reaches Rivian owners in the coming weeks. Keep an eye out for it!
In the meantime, I recommend scheduling a test drive with Rivian if you haven’t done so yet. See if you can get behind the wheel of an upcoming R2. It’s a winner!
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