Winklevoss Twins Contribute $2 Million in Bitcoin to Trump’s Campaign
The billionaire Winklevoss twins, who are the founders of the crypto company Gemini, made an announcement on Thursday that they each donated $1 million in Bitcoin to support the presidential candidate Donald Trump.
Tyler and Cameron Winklevoss shared their contributions on the social media platform X without specifying the address they sent the Bitcoin to.
Tyler Winklevoss mentioned that he is supporting Trump due to the Biden Administration’s aggressive “war against crypto,” which has led to the weaponization of multiple government agencies to bully and sue the good actors in the industry in an effort to destroy it.
He also criticized the SEC for failing to establish new regulations for the cryptocurrency industry under the Biden administration, leaving participants without clear guidance on navigating regulatory challenges. Additionally, he criticized the SEC for relying on outdated rules that were formulated decades ago.
The crypto industry has been critical of the SEC Chair Gensler and the Biden administration for their strict regulatory stance on digital assets, initiating legal actions against numerous prominent crypto entities in recent years.
On the other hand, Republican presidential nominee Trump has shown support for the industry by accepting crypto donations for his campaign since last month. He has indicated that he would ease hostility toward crypto in the US if re-elected.
During a recent meeting with crypto miners, Trump expressed his understanding and support for cryptocurrency, highlighting how miners help stabilize the energy grid and promising to back miners if he wins the White House.
Trump has also criticized Biden for his lack of understanding of cryptocurrency and has accused Democrats of being vehemently against crypto. Last month, Bloomberg reported that Trump had been in discussions about cryptocurrency policy with billionaire Elon Musk, although Musk denied this, stating he was “pretty sure” he had never talked about crypto with Trump.
