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Elena R
Elena R
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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Jun 22, 2024 13:10 UTC
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Trump Campaign Refunds Excessive Bitcoin Donation from Winklevoss Twins
Tyler and Cameron Winklevoss donated $2 million in Bitcoin to Donald Trump's campaign.
However, the contributions exceeded legal limits, resulting in a refund of the excess amount.
The twins praised Trump for his positive stance on cryptocurrencies, while criticizing President Biden's regulatory policies.
Co-founders of the Gemini crypto exchange, Tyler and Cameron Winklevoss, recently made headlines by pledging $2 million in Bitcoin donations ($1 million each) to Donald Trump’s presidential campaign. However, this significant contribution exceeded federal legal limits. Each twin’s donation, amounting to 15.47 BTC, surpassed the individual campaign contribution cap of $844,600.
As a result, the Trump campaign had to refund the excess to comply with campaign finance regulations.
Here’s what you need to know.
Crypto-Friendly Trump for the Win?
In their public statements, the Winklevoss twins praised Trump for his positive stance on cryptocurrencies and his commitment to business freedom. Tyler Winklevoss likened Trump to the leader of a “crypto army,” encouraging the digital asset community to support the Republican nominee.
Their support for Trump also served as a critique of President Joe Biden’s administration. The twins accused the current administration of fostering hostility towards the crypto sector and stifling innovation through excessive regulations.
Political Funding, Crypto, and More
The Winklevoss twins’ large donation highlights the influence crypto leaders have on political funding strategies. Their support for Trump reflects a trend of industry experts backing political candidates who promise favorable regulatory environments for digital assets.
Also Read: Massive $54.2 Million Transfer Causes AVAX to Plummet 10%
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