Winklevoss brothers donate Bitcoin to support Trump
Cameron and Tyler Winklevoss, founders of the Gemini cryptocurrency exchange, announced that they will each donate $1 million worth of Bitcoin (approximately 15.47 coins) to support former US President Donald Trump’s re-election campaign. The news sparked heated discussions on social media on June 21.
The Winklevoss twins stated that they will vote for Trump in the US presidential election on November 5 and believe that Trump is "the best choice to support Bitcoin, support cryptocurrency, and support business." They criticized current President Joe Biden for waging an "open war" on cryptocurrencies and accused the Biden administration of using government agencies such as the U.S. Securities and Exchange Commission (SEC) to suppress cryptocurrency companies.
Source: The Winklevoss brothers, founders of X Gemini, announce a donation of Bitcoin to Trump
Tyler Winklevoss specifically mentioned the Biden administration's "weaponization" of the banking system of cryptocurrency companies, known as Operation Choke Point 2.0, which is said to have caused harm to the cryptocurrency industry. great impact.
The brothers actively donate to crypto-friendly organizations
Cameron and Tyler Winklevoss reportedly attended a fundraiser for Trump, spending up to $300,000 each. In addition, they donated approximately $5 million to the Fairshake Political Action Committee (PAC) and its affiliates, groups responsible for launching attack ads and supporting specific Democratic and Republican candidates.
Credit: Teddy Schleifer Winklevoss donates $5 million to Fairshake
However, their donations did not mention the 34 felonies Trump was convicted of in May, which could interfere with his plans to run again. Still, Trump remains the leading Republican presidential candidate and faces a sentencing hearing in New York on July 11.
Controversy over returned Bitcoin donations
Additionally, the Winklevoss twins’ Bitcoin donation sparked new controversy. According to the report, their donations exceeded the limit for individual political contributions allowed by federal law, resulting in the excess being refunded. Under Federal Election Commission rules, each person can donate up to $844,600 to Trump's campaign committee.
When the Winklevoss twins announced the donation on the X platform, they were met with an outpouring of support and criticism. Some see Trump as a beneficial candidate for the cryptocurrency industry, while others question his reliability and true attitude toward Bitcoin. It is worth noting that Trump publicly criticized Bitcoin and other cryptocurrencies in 2019, saying that they were "not real currencies" and that their "values are highly volatile and based on air."
Recently, however, Trump seems to have changed his attitude and begun to embrace Bitcoin, even announcing plans to move all Bitcoin mining activities to the United States. This move undoubtedly caught the attention of many cryptocurrency enthusiasts.
Cryptocurrency Community Reaction
The Winklevoss twins’ move sparked widespread concern and discussion in the cryptocurrency community. The Gemini exchange also recently announced its political donation program aimed at promoting donations to pro-crypto candidates. This move is undoubtedly part of the political mobilization of the cryptocurrency industry.
Source: X Gemini announces launch of its political donation program
While Trump’s stance remains controversial, the Winklevoss twins believe he is the best presidential candidate to defend the cryptocurrency industry from government overreach. As the 2024 U.S. presidential election approaches, the cryptocurrency community will pay close attention to the movements of Trump and other candidates, as well as their attitudes and policies toward cryptocurrency.
