Winklevoss Twins Boost Trump’s Campaign with $2 Million Bitcoin Contribution

Winklevoss Twins Boost Trump’s Campaign with $2 Million Bitcoin Contribution

Billionaire brothers Tyler and Cameron Winklevoss, founders of the crypto firm Gemini, announced on Thursday that they have each donated $1 million in Bitcoin to support Donald Trump’s presidential campaign.

Twins Contribute to Trump’s Campaign via Bitcoin

The Winklevoss twins revealed their contributions on social media platform X but did not specify the address to which they sent the Bitcoin. Tyler Winklevoss cited the Biden Administration’s aggressive stance on cryptocurrency as the primary reason for their support of Trump. He criticized the administration for weaponizing government agencies to target the crypto industry, thereby stifling its growth.

Regulatory Challenges Under the Biden Administration

Tyler Winklevoss further condemned the SEC under Biden for failing to establish new regulations for the cryptocurrency industry. He pointed out that the SEC relies on outdated rules, formulated long before the advent of the internet, leaving industry participants without clear guidance.

Crypto Industry Criticism of SEC and Biden Administration

The crypto industry has broadly criticized SEC Chair Gary Gensler and the Biden administration for their stringent regulatory measures. The SEC has taken legal action against several major crypto entities in recent years, drawing ire from industry players.

Trump’s Pro-Crypto Stance Gains Support

Republican presidential nominee Donald Trump has shown support for the crypto industry by accepting cryptocurrency donations for his campaign since last month. He has suggested that he would end the hostility toward crypto in the US if re-elected. Trump has been vocal about his understanding and appreciation of cryptocurrency, particularly the role of miners in stabilizing the energy grid. He promised to support miners if he wins the presidency.

Trump Criticizes Biden and Democrats on Crypto Policies

During a recent meeting with crypto miners, Trump criticized Biden for his lack of understanding of cryptocurrency and condemned Democrats for their opposition to the industry. He emphasized his commitment to fostering a favorable environment for crypto in the US.

Alleged Discussions with Elon Musk

Last month, Bloomberg reported that Trump had been in discussions about cryptocurrency policy with billionaire Elon Musk. However, Musk denied these reports, stating he was “pretty sure” he had never discussed crypto with Trump.

This significant contribution from the Winklevoss twins underscores the growing political divide over cryptocurrency regulation and highlights the crypto industry’s increasing influence in US politics.

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