- Gemini founders each donated $1 million in Bitcoin to the Trump campaign
- Trump vows to end Biden’s ‘cryptocurrency wars’
Gemini is back in the headlines after it made headlines for announcing it would compensate users affected by the discontinued Gemini Earn program.
The Winklevoss twins support Trump
Gemini founders Cameron and Tyler Winklevoss, better known as the Winklevoss Twins, have each donated $1 million worth of Bitcoin. [BTC] Former President Donald Trump’s campaign.
Incidentally, on May 21, the President Trump campaign launched a fundraising page allowing cryptocurrency donations through Coinbase Commerce in accordance with federal regulations.
The reason for the $1 million Bitcoin donation: Tyler Winklevoss I said this on X (formerly Twitter).
“Over the past few years, the Biden Administration has openly declared war on cryptocurrencies, weaponizing multiple government agencies to intimidate, harass, and sue good players in the cryptocurrency industry in an attempt to destroy the industry.”
In a statement, Winklevoss called the administration’s actions an “unprecedented abuse of power exercised entirely for distorted political gain,” which he believes is damaging to innovation, American taxpayers and the economy.
He added,
“There’s nothing the Biden administration can do or say at this point to pretend that’s not the case.”
Cameron Winklevoss echoed similar sentiments, saying:
Source: Cameron Winklevoss/X
Biden vs. Trump
The episode is just the latest chapter in this year’s election cycle, and the aforementioned donations underscore how many in the crypto industry view Trump and Biden.
Over the past few months, President Trump has openly supported cryptocurrencies. In contrast, President Joe Biden has taken a more cautious stance on cryptocurrencies. In the most recent example, they refused to repeal Staff Accounting Bulletin 121 (SAB 121), despite bipartisan support.
Trump’s recent claims that Biden will end his “cryptocurrency wars” underscore his recognition of the importance of cryptocurrencies and their potential influence on voters in this election.
Trump said the same thing in a June interview. meeting He claimed,
“I will end Joe Biden’s war on cryptocurrency and ensure that the future of cryptocurrency and the future of Bitcoin is made in America.”
It’s worth noting here that some are critical of Biden and the SEC. For example, billionaire entrepreneur Mark Cuban recently criticized Gensler’s regulatory actions and suggested they could affect President Biden’s reelection prospects. He Said,
“Biden must choose between Gensler and crypto advocates or he may lose the White House.”
