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Gemini Founders Donate $2 Million in Bitcoin to Support Trump
The billionaire Winklevoss twins each donated $1 million in BTC to former President Donald Trump in response to the SEC’s weaponization of cryptocurrencies.
The founders of Twins cryptocurrency exchange, Cameron and Tyler Winklevossthey donated 30.94 Bitcoin (worth approximately $2 million) to the former president of the United States Donald Trumpwho hopes to return to the White House in 2024.
In an X instructionTyler Winklevoss said he will vote for Donald Trump in November, adding that the decision was made in response to the Biden administration’s aggressive stance on cryptocurrencies.
“In recent years, the Biden administration has openly declared war on cryptocurrencies. He has weaponized multiple government agencies to intimidate, harass and expose good players in our industry in an effort to destroy it.”
Tyler Winklevoss
The Gemini co-founder argues that the Biden administration’s actions were “nothing short of an unprecedented abuse of power, exercised entirely for twisted political gain, to the total detriment of innovation, the American taxpayer, and the American economy ”.
The Winklevoss twins have openly expressed their discontent with the US Securities and Exchange Commission (SEC). Tyler Winklevoss pointed out that the SEC “has not written a single rule for the cryptocurrency industry to help 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, saying the former president will “end the Biden administration’s war on cryptocurrencies.”
In early 2023, the SEC charged Genesis Global and Gemini offered and sold unregistered securities to retail investors through the Gemini Earn program, which failed following the Genesis bankruptcy triggered by the November 2022 cryptocurrency market crash.