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Tags: winklevoss brothers | donald trump | bitcoin

Winklevoss Brothers Donate $1M in Bitcoin to Trump

By    |   Friday, 21 June 2024 04:03 PM EDT

Billionaire twin brothers Tyler and Cameron Winklevoss, co-founders of the cryptocurrency exchange Gemini, say they each donated $1 million in bitcoin to Donald Trump.

In posts on X, they outlined their reasons for supporting the former president over current President Joe Biden.

"Over the past few years, the Biden Administration has openly declared war against crypto," Tyler Winklevoss wrote on X."It has weaponized multiple government agencies to bully, harass, and sue the good actors in our industry in an effort to destroy it." 

Cameron Winklevoss, who also announced he is donating to Trump $1 million (115.47 BTC), wrote on X that the former president "will put an end to the Biden Administration's war on crypto," and praising Trump as "Pro-Bitcoin Pro-Crypto Pro-Business."

At a campaign event in California this month, Trump portrayed himself as the "crypto president" who will support the industry, Reuters reported.

Biden has angered crypto advocates with attempts to regulate the industry — vetoing a congressional resolution to overturn a Securities and Exchange Commission rule opposed by the industry, Axios reported.

In his endorsement, Tyler Winklevoss slammed what he called "the weaponization of the Securities and Exchange Commission (SEC) against crypto."

"The Biden Administration's SEC has not written a single rule for the crypto industry to help any of its participants understand how to navigate the regulatory landscape for this new asset paradigm," he wrote. "This is by design.

"The game is simple. Make it impossible to comply, then sue everyone for not complying. And that's exactly what the Biden SEC has done over and over again to good actors in the space."

Gemini has been banned from operating crypto-lending programs in New York, with New York state's Attorney General Letitia James saying it misled investors about the risks associated with a program it had launched.

The Winklevoss twins, who rose to fame after suing Mark Zuckerberg for allegedly stealing their ideas in his Facebook launch, are each worth $2.7 billion, Forbes estimated.

© 2024 Newsmax. All rights reserved.


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Billionaire twin brothers Tyler and Cameron Winklevoss, co-founders of the cryptocurrency exchange Gemini, say they each donated $1 million in bitcoin to Donald Trump.
winklevoss brothers, donald trump, bitcoin
328
2024-03-21
Friday, 21 June 2024 04:03 PM
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