Gemini's $10 Million Bitcoin Donation to Trump PAC Tied to CFTC Settlement Reversal
The Winklevoss brothers' cryptocurrency exchange, Gemini Trust Company, made two Bitcoin contributions totaling over $10 million to the MAGA Inc. Super PAC in June.
The donations were disclosed through a July report to the Federal Election Commission and sit at the crossroads of campaign finance law and crypto industry politics.
Three weeks prior to the contributions, Gemini and the US Commodity Futures Trading Commission jointly filed a motion to reverse a $5 million settlement from January 2025, which resolved allegations that Gemini made false or misleading statements to regulators.
CFTC Chair Michael Selig claimed that prior enforcement against Gemini was politically motivated under the Biden administration, suggesting that current leadership views at least some past cases as driven by politics rather than pure legal merit.