Gemini Sends Massive $10M Bitcoin Donation to Trump-Linked Super PAC
Gemini Trust Company, led by the Winklevoss twins, has made a high-stakes political move by donating $10 million in Bitcoin to the MAGA Inc. Super PAC, a group supporting Donald Trump. This massive Bitcoin contribution comes at a critical juncture as the exchange fights to overturn a $5 million settlement with the CFTC in a New York court.
The timing of the donation is significant, occurring just weeks after the CFTC filed a joint motion with Gemini to reverse a previous settlement involving allegations of misleading statements. As the legal battle unfolds, the funds may be utilized for independent expenditures to bolster Trump's campaign, highlighting the growing intersection between crypto giants and US political financing.
Gemini Trust Company, run by co-founders Cameron and Tyler Winklevoss, has sent two separate Bitcoin contributions of over $5 million each to the MAGA Inc. Super PAC, which supports Donald Trump. According to FEC filings, the donation was recorded on June 19.
The donation arrives as a New York court considers whether to reverse a $5 million settlement between the CFTC and Gemini. This legal maneuver follows a joint motion filed by the CFTC and Gemini in federal court to contest a January 2025 settlement regarding alleged false or misleading statements. CFTC Chair Michael Selig has previously suggested that the agency, under the Biden administration, 'politically targeted' the Winklevoss brothers through enforcement actions.
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