Gemini's $10M Bitcoin Donation to Trump PAC Draws Scrutiny Amid Ongoing CFTC Case

Gemini's $10 million Bitcoin donation to MAGA Inc., a pro-Trump super PAC, has drawn attention amidst an ongoing lawsuit against the crypto exchange by the U.S. Commodity Futures Trading Commission (CFTC).

The Federal Election Commission (FEC) revealed in recent records that Gemini sent over $10 million worth of Bitcoin to MAGA Inc. on June 19, with two transactions valued at roughly $5 million each and several smaller transfers.

This donation is one of the largest reported crypto contributions in U.S. elections so far, with super PACs not limited in how many contributions they can accept.

The CFTC lawsuit against Gemini is still pending, with both parties requesting reconsideration of a previous settlement earlier this year.