- Gemini’s founders each donated $1 million in Bitcoin to Trump’s campaign
- Trump promises to end Biden’s ‘war on crypto’
After making news with the announcement to compensate users affected by the discontinued Gemini Earn program, Gemini is once again the talk of the town.
The Winklevos twins support Trump
Gemini founders Cameron Winklevoss and Tyler Winklevoss, also known as the Winklevoss twins, have each donated $1 million to Bitcoin [BTC] to former President Donald Trump’s campaign.
For context, on May 21, Trump’s presidential campaign launched a fundraising page that allowed cryptocurrency donations through Coinbase Commerce, in accordance with federal regulations.
Citing reasons for his $1 million Bitcoin donation: Tyler Winklevoss took to X (formerly Twitter) and said:
“In recent years, the Biden administration has openly declared war on crypto. It has weaponized multiple government agencies to bully, harass and sue the good players in our industry in an effort to destroy them.”
In his statement, Winklevoss emphasized that the government’s actions constituted “an unprecedented abuse of power exercised solely for distorted political gains.” He believes this has had a detrimental impact on innovation, American taxpayers and the economy.
He added,
“There is nothing the Biden administration can do or say at this point to argue otherwise.”
Echoing similar sentiments, Cameron Winklevoss also noted:
Source: Cameron Winklevoss/X
Biden vs. Trump
This episode is just the latest chapter in this year’s election cycle, with the aforementioned donations underscoring how much people in the crypto space see Trump and Biden.
In recent months, Trump has openly expressed his support for crypto. On the contrary, President Joe Biden has taken a more cautious stance on crypto – The most recent was when he vetoed the repeal of Staff Accounting Bulletin 121, or SAB 121, despite bipartisan support.
Trump’s latest claim that he will end Biden’s so-called “war on crypto” underlines his recognition of the significance of crypto and its potential influence on voters in this election.
Trump noted the same thing in 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 is worth noting that there are also others who have been critical of Biden and the SEC. For example, billionaire entrepreneur Mark Cuban recently criticized Gensler’s regulatory actions and suggested they could impact President Biden’s reelection prospects. He said,
“Biden must choose between Gensler or crypto voters or it could cost him the White House.”