Gemini executives Tyler and Cameron Winklevoss have significantly backed former President Donald Trump’s 2024 campaign with $1 million each in Bitcoin, marking a major move by crypto leaders against the current administration’s stance on cryptocurrency. Tyler Winklevoss criticized the Biden Administration for its aggressive approach towards the crypto industry, which included a lawsuit from the SEC against Gemini last year.

Tyler argues that Trump represents a pro-Bitcoin, pro-crypto, and pro-business choice, contrasting sharply with Biden’s policies which he views as hostile to the sector. The contributions, made in Bitcoin to Trump’s newly receptive campaign fund, align with the brothers’ ongoing political strategy, having previously supported various Republican candidates and contributing to industry-related PACs.

The funds directed to the Trump 47 Committee may be distributed among various Republican benefactors to adhere to campaign finance laws, showing the twins’ strategic approach to bolstering pro-crypto candidates. This move underscores the growing political influence of cryptocurrency leaders and their efforts to shape a favorable regulatory environment through targeted campaign support.

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