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.
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.
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.
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