Billionaire twins Cameron Winklevoss and Tyler Winklevoss have made the first major presidential contributions from well-known crypto CEOs, supporting ex-President Donald Trump’s bid to take down President Biden’s re-election campaign with a total of $2 million worth of Bitcoin.
‘Crypto President’ Trump Scores $2M BTC Donation From Winklevoss Bros
The pair, who co-founded the digital asset exchange Gemini and are heavyweight Bitcoin (BTC) investors, each donated 15.47 BTC — roughly $1 million at the time of publication — to the presidential campaign of presumptive Republican Party candidate Donald Trump.
“President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice,” Tyler Winklevoss said in a lengthy post on X. “This is not even remotely open for debate. Anyone who tells you otherwise is severely misinformed, delusional, or not telling the truth. It’s time to take our country back.”
Tyler accused the Biden administration of declaring war against the crypto industry and initiating enforcement actions against good actors in a bid to destroy it. The Gemini CEO further asserted that Biden had weaponized the banking system against crypto — a reference to the Operation Choke Point 2.0 policies first established under the Obama regime, where Biden served as Vice President.
He also criticized the Securities and Exchange Commission (SEC) for taking the hostile stance that the majority of cryptocurrencies are securities while not formulating any rules for the road. “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,” he added.
Tyler’s twin brother Cameron followed suit, also sharing his reasons for donating to self-proclaimed crypto President Trump and why he believes the ex-POTUs is a better choice for president than Biden.
“President Trump is: Pro-Bitcoin, Pro-Crypto, and Pro-Business. And he will put an end to the Biden Administration’s war on crypto.”
I also just donated $1 million in bitcoin (15.47 BTC) to @realDonaldTrump and will be voting for him in November.
Here’s the TL;DR — President Trump is:
Pro-Bitcoin
Pro-Crypto
Pro-BusinessAnd he will put an end to the Biden Administration’s war on crypto. Onward! https://t.co/r6iDP7BdbE
— Cameron Winklevoss (@cameron) June 20, 2024
The funds were reportedly sent to the Trump 47 Committee Inc., as per a representative. This is a “joint fundraising committee” that could split the money to comply with legal limits on donations to candidates and political parties, meaning the money could be distributed across several Republican benefactors.
Trump Is Best For Crypto?
Not only does Trump’s campaign accept donations in Bitcoin and other cryptocurrencies, but the former president has also made serious efforts to position himself as the pro-crypto candidate.
He recently met with execs from leading Bitcoin mining companies, where he told them of his plans to have all the remaining BTC — roughly 2.1 million units — mined in the United States, contending that it would help the nation become energy-dominant and counter the development of a central bank digital currency (CBDC).
Notably, analysts at British multinational bank Standard Chartered have indicated that a Trump win in November would be a boon for Bitcoin. The analysts tip $150,000 BTC by 2024-end if Trump is re-elected.
This marks an about-face for Trump, however. The American politician has historically not been “a fan of crypto”, claiming it’s “based on thin air” in 2019 while in office. In 2021, after leaving the White House, Trump labeled Bitcoin as a “scam” that threatened the U.S. Dollar as the world reserve currency.
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