Tyler and Cameron Winklevoss, the executives at Gemini, recently made headlines by donating $1 million each to the campaign of former President Donald Trump. This announcement came as a surprise to many, as the Winklevoss twins had already been significant donors to various 2024 U.S. campaigns, contributing around $2.7 million each, mainly to the industry’s super PAC, Fairshake.
In a detailed statement posted on X, Tyler Winklevoss explained their decision to support Trump, citing the Biden Administration’s stance on cryptocurrency as the primary reason for their donation. According to Winklevoss, the Biden Administration has been hostile towards the crypto industry, using government agencies to target and undermine legitimate businesses like Gemini. This perceived hostility led the Winklevoss twins to throw their support behind Trump, who they believe is more favorable towards Bitcoin, crypto, and business in general.
Both Tyler and Cameron Winklevoss made their contributions in the form of bitcoin, with Tyler donating 15.47 bitcoin and Cameron following suit. The money was directed to the Trump 47 Committee Inc., a joint fundraising committee that distributes funds to various Republican candidates to comply with campaign contribution limits.
The Winklevoss twins’ donation to Trump 47 adds to a growing list of contributions from prominent figures in the crypto industry, including Jeffrey Sprecher, Kelly Lynn Loeffler, Joe Ricketts, and Robert Bigelow. These donations are part of a larger trend of crypto executives supporting political candidates who are seen as allies to the industry.
Overall, the Winklevoss twins’ decision to support Trump reflects their belief in the importance of protecting the crypto industry from government overreach. By aligning themselves with a candidate who they see as pro-business and pro-crypto, the Winklevoss twins are making a statement about where they stand on the future of cryptocurrency regulation in the United States.