Bitcoin
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 crypto.
The founders of Twins crypto exchange, Cameron and Tyler Winklevossdonated 30.94 Bitcoin (worth approximately US$2 million) to the former US President donald trumpwho hopes to return to the White House in 2024.
In an X statementTyler Winklevoss said he will vote for Donald Trump in November, adding that the decision was made in response to an aggressive attitude towards encryption by the Biden administration.
“In recent years, the Biden administration has openly declared war on encryption. He has weaponized various government agencies to intimidate, harass and prosecute the good players in our industry in an effort to destroy it.”
Tyler Winklevoss
The Gemini co-founder claims the Biden administration’s actions were “nothing short of an unprecedented abuse of power, exercised entirely for distorted political gain, at the complete expense of innovation, the American taxpayer, and the American economy.”
The Winklevoss twins have been vocal about their displeasure 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, stating that the former president will “put an end to the Biden administration’s war on encryption.”
In early 2023, the SEC loaded Genesis Global and Gemini with the offering and sale of unregistered securities to retail investors through the Gemini Earn program, which collapsed following Genesis’ bankruptcy triggered by the crypto market crash in November 2022.