- Gemini founders donated $1 million each in Bitcoin to Trump’s campaign
- Trump is pledging to end Biden’s “war on crypto”
After making news with its announcement to compensate users affected by the discontinued Gemini Earn program, Gemini is once again the talk of the town.
Winklevoss twins supports Trump
The founders of Gemini, Cameron Winklevoss and Tyler Winklevoss, aka the Winklevoss twins, have each donated $1 million worth of Bitcoin [BTC] to former President Donald Trump’s campaign.
For context, on 21 May, Trump’s presidential campaign initiated a fundraising page enabling cryptocurrency donations through Coinbase Commerce, in compliance with federal regulations.
Citing reasons for his $1 million Bitcoin donation, Tyler Winklevoss took to X (formerly Twitter) and said,
“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.”
In his statement, Winklevoss emphasized that the administration’s actions constituted “an unprecedented abuse of power wielded entirely for twisted political gains.” He believes this has detrimentally impacted innovation, American taxpayers, and the economy.
He added,
“There is nothing the Biden Administration can do or say at this point to pretend otherwise.”
Echoing similar sentiments, Cameron Winklevoss also observed,
Source: Cameron Winklevoss/X
Biden vs. Trump
This episode is just the latest chapter in this year’s election cycle, with the aforementioned donations underlining how many in the crypto space see Trump and Biden.
Over the last few months, Trump has openly come out in support of crypto. On the contrary, President Joe Biden has taken a more cautious position towards crypto – The most recent being when he vetoed the repeal of Staff Accounting Bulletin 121, aka SAB 121, despite bipartisan backing.
Trump’s latest assertion that he will end Biden’s purported “war on crypto” underscores his acknowledgment of crypto’s significance and its potential influence on voters in this election.
Remarking on the same, Trump in a June meeting had claimed,
“I will end Joe Biden’s war on crypto, and we will ensure that the future of crypto and the future of Bitcoin will be made in America.”
Here, it’s worth noting that there are others too who have been critical of Biden and the SEC. For example – Billionaire entrepreneur Mark Cuban recently criticized Gensler’s regulatory actions, suggesting they could impact President Biden’s re-election prospects. He said,
“Biden has to choose between Gensler or crypto voters or it could cost him the White House.”