Winklevoss Twins Donate $2 Million in Bitcoin to Support Trump

Cryptocurrency billionaires Tyler and Cameron Winklevoss announced on Thursday that they are each donating $1 million worth of bitcoin to support Donald Trump’s 2024 presidential campaign. The twins, known for their cryptocurrency exchange Gemini, join other billionaires in backing the former president, who has increasingly embraced cryptocurrencies on the campaign trail.

In a post on X, Tyler Winklevoss revealed his donation of 15.47 BTC (equivalent to $1 million) and expressed his intention to vote for Trump in November. He praised Trump for being “pro-Bitcoin, pro-crypto, and pro-business choice” and urged the “crypto army” to support him as well. Tyler criticized the Biden administration for what he described as a “war against crypto,” accusing it of using government agencies to “bully, harass, and sue the good actors in our industry.”

Cameron Winklevoss echoed his brother’s sentiments, also donating 15.47 BTC to Trump’s campaign. He stated that Trump would “put an end to the Biden Administration’s war on crypto.” According to CoinDesk, citing an unnamed spokesperson, the donations will go to the Trump 47 Committee, a joint fundraising entity that will ensure compliance with federal campaign donation limits.

“The Biden Administration has consistently attacked American business across the board and villainized its greatest heroes. The crime is always success and the reward is always ridicule, fines, and even more red tape,” Tyler Winklevoss wrote in his post.

The Winklevoss twins and their cryptocurrency exchange, Gemini, have faced multiple lawsuits from investors and the government following the 2022 collapse of their high-interest earning program, Gemini Earn. In February, Gemini agreed to a settlement with the New York Department of Financial Services, committing to return $1.1 billion to customers of the Earn program and pay a $37 million fine for compliance failures.

Tyler and Cameron Winklevoss each have an estimated net worth of $2.7 billion, placing them at the 1,242nd spot on the Real Time Billionaires List.

Trump’s campaign has recently adopted a pro-crypto and pro-bitcoin stance, a notable shift from his earlier skepticism. During his presidency, Trump criticized cryptocurrencies as “not money” and “highly volatile” assets “based on thin air,” which facilitated “unlawful behavior.” However, in recent months, Trump has sought support from the tech and crypto industry, accepting cryptocurrency donations and advocating for the mining of bitcoin in the U.S. He has positioned bitcoin as a “last line of defense against” a Central Bank Digital Currency (CBDC) and criticized Biden’s “hatred of Bitcoin,” claiming it benefits “China, Russia, and the Radical Communist Left.”