Gemini founders donate $2m in Bitcoin to support Trump

The billionaire Winklevoss twins have each donated $1 million in BTC to ex-President Donald Trump in response to the weaponization of the SEC against crypto.

The founders of the Gemini crypto exchange, Cameron and Tyler Winklevoss, have donated 30.94 BTC (worth around $2 million) to former U.S. President Donald Trump, who is hoping to return to the White House in 2024.

In an X statement, Tyler Winklevoss said he will be voting for Donald Trump in November, adding the decision was made in response to a hawkish attitude toward crypto from the Biden Administration.

“Over the past few years, the Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and sue the good actors in our industry in an effort to destroy it.”

Tyler Winklevoss

The Gemini co-founder claims the Biden Administration’s actions have been “nothing short of an unprecedented abuse of power wielded entirely for twisted political gain at the complete expense of innovation, the American taxpayer, and the American economy.”

The Winklevoss twins have been vocal about their discontent with the U.S. Securities and Exchange Commission (SEC). Tyler Winklevoss highlighted that the SEC “has not written a single rule for the crypto industry to help any of its participants understand how to navigate the regulatory landscape for this new asset paradigm.”

Cameron Winklevoss echoed his brother’s sentiments and support for Trump, asserting that the former president “will put an end to the Biden Administration’s war on crypto.”

In early 2023, the SEC charged Genesis Global and Gemini with offering and selling unregistered securities to retail investors through the Gemini Earn program, which collapsed following Genesis’ bankruptcy triggered by the November 2022 crypto market crash.