The Winklevoss brothers, Cameron and Tyler, have become notable figures in the crypto world. Now, they are making headlines for crossing a significant threshold: making substantial campaign contributions to the presidential race.
Major Contributions to Trump Campaign
Gemini CEO Tyler Winklevoss and his twin brother Cameron, the company’s president, each donated $1 million to support former President Donald Trump. Tyler announced this in an extensive post on X, expressing their stance against the Biden Administration.
Opposition to Biden’s Crypto Policies
Tyler Winklevoss criticized President Joe Biden’s administration, accusing it of waging a war against the crypto industry. He claimed the administration weaponized various government agencies to harass and sue crypto businesses, aiming to destroy the industry. Last year, the U.S. Securities and Exchange Commission targeted Gemini in a case accusing the exchange of offering unregistered securities, which Tyler referred to as a “manufactured parking ticket.”
Support for Pro-Crypto Trump
According to Tyler, former President Trump is the pro-Bitcoin, pro-crypto, and pro-business choice. The brothers’ contributions were made in Bitcoin, with Tyler giving 15.47 BTC and Cameron following suit. The donations went to the Trump 47 Committee Inc., a joint fundraising committee that distributes funds in compliance with legal campaign contribution limits.
Historical Political Contributions
The Winklevoss twins have a history of donating matching amounts to U.S. election efforts. Before this latest contribution, they had each given about $2.7 million to various campaigns, including those of Vivek Ramaswamy, Nikki Haley, Sen. Tim Scott, and Florida Gov. Ron DeSantis.
Supporting the Crypto Industry
Most of the brothers’ donations have gone to Fairshake, the industry’s main political action committee (PAC). Their combined $5 million contribution is a small but significant portion of Fairshake’s nearly $169 million in contributions. These funds aim to support congressional candidates who favor the crypto industry.
Joining Other Major Donors
The Winklevoss twins join other significant donors to the Trump 47 campaign, including Jeffrey Sprecher, the CEO of Intercontinental Exchange, and his wife Kelly Lynn Loeffler, Joe Ricketts, the founder of TD Ameritrade, and Robert Bigelow of Budget Suites of America.
By aligning their contributions with other major industry players, the Winklevoss brothers are not only supporting a presidential candidate but also advocating for the future of the crypto industry.