Gemini Sends $10M in Bitcoin to Trump-Supporting Super PAC Amid CFTC Case Review

Gemini Trust Company sent more than $10 million in Bitcoin to MAGA Inc., a super PAC that supports President Donald Trump. This move came after Gemini and the U.S. Commodity Futures Trading Commission (CFTC) jointly requested to vacate ongoing terms of their settlement.

The two Bitcoin contributions were made on June 19, with each valued at more than $5 million. The committee can use these funds for independent spending that supports Trump. This donation follows Gemini and the CFTC's joint motion in a New York federal court filed three weeks ago.

Senator Elizabeth Warren has questioned the agency's independence and accused it of being beholden to political pressures and interests of wealthy insiders. She tied her concerns to the regulator's reversal request and staffing cuts, which have led to a 25% reduction in the CFTC workforce since January 2025.