Winklevosses Send $10M in BTC to Trump Super PAC Amid CFTC Settlement Drama
The Gemini co-founders, Cameron and Tyler Winklevoss, sent $10 million in Bitcoin to MAGA Inc., a super PAC supporting President Donald Trump. This donation was made on June 19, just three weeks after the US Commodity Futures Trading Commission (CFTC) filed a joint motion with Gemini in federal court to reverse a January 2025 settlement.
The CFTC had initially fined Gemini $5 million for allegedly making false or misleading statements. However, in May, both sides agreed that the penalty would not be returned if granted by the court. Senator Elizabeth Warren expressed concerns about this joint motion and other factors, calling them 'concerning signs of a CFTC beholden to political pressures'.
The Winklevoss brothers have been vocal supporters of President Trump's crypto policies. They each donated $1 million to his 2024 election campaign and contributed $21 million in Bitcoin to the Digital Freedom Fund PAC, which aimed to 'support President Trump and his administration's efforts' related to crypto policy.
The CFTC remains without a full complement of commissioners, with Chair Michael Selig being the sole member. This has raised concerns among lawmakers, who are pressing Trump to announce additional nominations for the financial regulator as Congress considers comprehensive crypto market structure legislation.