Gemini Sends $10M in Bitcoin to Trump PAC Amid Reversal Bid
The Winklevoss brothers' Gemini Trust Company made two separate contributions of more than $5 million in Bitcoin to MAGA Inc. Super PAC, which supports President Donald Trump's re-election campaign.
The donations were recorded on June 19 and total $10 million. This is not the first time the twins have supported Trump; each donated $1 million to his 2024 election campaign and made social media posts supporting him.
Gemini allegedly made false or misleading statements, leading to a January 2025 settlement with the US Commodity Futures Trading Commission (CFTC) for $5 million. The CFTC filed a joint motion with Gemini in May to reverse this settlement, but no decision has been made public yet.
CFTC Chair Michael Selig claimed that the agency under former President Joe Biden 'politically targeted' the Winklevosses through enforcement actions.