[NEWS] Gemini founders Winklevoss brothers donate more than 3 million yen worth of Bitcoin to Trump

The Winklevoss brothers, known as the founders of the cryptocurrency exchange Gemini, announced on the 20th that they have each donated $1 million (approximately 160 million yen) worth of Bitcoin (BTC) to support Republican presidential candidate Donald Trump. This appears to be a recognition of Trump's stance on cryptocurrencies.

Tyler Winklevoss and Cameron Winklevoss made the announcement on X.

Tyler posted that while the current Joe Biden administration has "openly declared war on cryptocurrencies," Trump is "pro-Bitcoin, pro-cryptocurrency, and pro-cryptocurrency business." He added that "Trump will put an end to the Biden administration's cryptocurrency war," once again appreciating Trump's stance on cryptocurrencies.

Tyler also posted a lengthy critique of Biden's crypto policy on X, saying, "It's time to take back our country. It's time for the crypto army to send a message to Washington. Attacking us is political suicide," and claimed that the current administration has used regulators to stifle the crypto industry, "tainting the mission and undermining the integrity of these institutions."

He added, "The Biden administration has tried to destroy all of this. I'm not going to stand by and let them. I'm going to keep fighting for what I know is right."

Trump is a crypto advocate

Trump also blasted the current crypto-related regulatory efforts in San Francisco this month, declaring himself a "crypto advocate."

Regulators, including the SEC, have tightened their grip on the crypto industry since the collapse of cryptocurrency exchange FTX in 2022. Gemini was also sued by the NYDFS (New York State Department of Financial Services) over its lending service, Gemini Earn.

The lawsuit alleges that Gemini handled Gemini Earn improperly and seeks restitution and compensation for investors who suffered losses. Gemini settled in February of this year by returning $1.1 billion (approximately 176 billion yen) and paying a fine of $37 million (approximately 5.9 billion yen).

Reference:Tyler X,Cameron X
Image: Shutterstock

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