Home Winklevoss twins donate $1M in Bitcoin to Trump’s campaign

Winklevoss twins donate $1M in Bitcoin to Trump’s campaign

TL:DR

  • The Winklevoss twins each donated $1 million in Bitcoin to Trump's 2024 campaign.
  • Tyler Winklevoss criticized the Biden administration for being hostile to crypto.
  • Trump has positioned himself as pro-Bitcoin and pro-crypto in his campaign.

Gemini CEO Tyler Winklevoss and his twin brother Cameron donated $1 million worth of Bitcoin (BTC) each to Donald Trump’s 2024 presidential campaign.

The presumptive Republican nominee’s campaign recently started accepting cryptocurrency donations. In a posts on X, the Winklevoss brothers explained their support for Trump.

Tyler Winklevoss explained that the Biden administration has been hostile to crypto. He also highlighted that — while under his purview — United States government agencies were quite aggressive towards crypto firms:

The Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and sue the good actors in our industry in an effort to destroy it.

On the other hand, Tyler Winklevoss claimed that presidential candidate Trump want to strengthen the crypto sector and businesses in general. He wrote:

President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice. This is not even remotely open for debate. […]

It’s time for the crypto army to send a message to Washington. That attacking us is political suicide. This is why I will be casting my vote for President Trump.

Who are the Winklevoss twins?

The Winklevoss twins, Cameron and Tyler, are American entrepreneurs, investors, and former Olympic rowers. Born on August 21, 1981, in Southampton, New York, they gained fame for their involvement in the early stages of Facebook and their subsequent legal battle with Mark Zuckerberg, the company’s founder.

The twins attended Harvard University, where they met Zuckerberg. In 2004, they enlisted Zuckerberg to develop a social networking site called ConnectU, which they claimed he later used as the basis for Facebook.

Since then, the Winklevoss twins have been actively involved in various business ventures, particularly in the cryptocurrency space. They founded Winklevoss Capital Management, a venture capital firm that invests in early-stage startups.

In 2014 they launched Gemini, a cryptocurrency exchange that allows users to buy, sell, and store digital assets such as Bitcoin and Ethereum. The twins have also been strong advocates for the mainstream adoption of cryptocurrencies and have worked to establish regulatory frameworks for the industry.

Trump’s pro-crypto bid

The popularity of the Trump family in crypto circles is not a new trend. Presidential candidate Donald Trump recently said that he wants all Bitcoin to be mined in the United States. In late May, he also expressed his support for the cryptocurrency industry. He said:

I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry. […] Our country must be the leader in the field, there is no second place.

The former president has been positioning himself as the candidate most likely to support the cryptocurrency industry if elected. The 15.47 BTC donations — valued at approximately $2 million total — come as Trump ramps up his campaign to retake the White House in the November 2024 election.

The crypto industry is likely to be a key issue, with the Biden administration pursuing tighter regulations in the wake of several high-profile bankruptcies and scandals. The Winklevoss twins, early Bitcoin investors who founded the Gemini exchange, have been vocal proponents of cryptocurrency.

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Radek Zielinski
Tech Journalist

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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