Summary of Main Points:
- Winklevoss twins donate $1 million each in BTC to ex-President Donald Trump
- Response to SEC’s actions against crypto
- Strong support for Donald Trump in 2024 election
- Criticism of Biden Administration’s stance on crypto
- Discontent with U.S. Securities and Exchange Commission
- SEC charges Genesis Global and Gemini with unregistered securities offerings
Winklevoss Twins Donate $1 Million in BTC to Donald Trump
The billionaire Winklevoss twins, founders of the Gemini crypto exchange, have each donated $1 million in BTC to former U.S. President Donald Trump. This donation comes in response to the SEC’s actions against the crypto industry, with the twins expressing their support for Trump in the upcoming 2024 election.
Support for Trump and Criticism of Biden Administration
In a statement, Tyler Winklevoss announced his intention to vote for Donald Trump in November, citing the Biden Administration’s hostile approach towards crypto. He criticized the administration for using government agencies to target and undermine the industry, accusing them of abusing power for political gain at the expense of innovation and the economy. The Winklevoss twins have been vocal about their discontent with the SEC, highlighting the lack of clear regulations for the crypto industry.
SEC Charges Genesis Global and Gemini
In early 2023, the SEC charged Genesis Global and Gemini for offering and selling unregistered securities to retail investors. This charge stemmed from the collapse of the Gemini Earn program following Genesis’ bankruptcy triggered by the November 2022 crypto market crash. The Winklevoss twins’ donations to Trump reflect their dissatisfaction with the regulatory environment and their hope for a more supportive stance towards crypto under a new administration.
