Cameron and Tyler Winklevoss, the co-founders of cryptocurrency exchange Gemini, have donated more than $10 million in Bitcoin ($BTC) to MAGA Inc., the Super PAC aligned with President Donald
Cameron and Tyler Winklevoss, the co-founders of cryptocurrency exchange Gemini, have donated more than $10 million in Bitcoin ($BTC) to MAGA Inc., the Super PAC aligned with President Donald Trump. The contributions landed weeks after federal regulators moved to unwind a penalty the exchange had fought for years.
According to MAGA Inc.'s July report to the Federal Election Commission, Gemini Trust Company sent two separate contributions of more than $5 million in Bitcoin on June 19, disclosed in a July FEC filing. The precise breakdown, confirmed by FEC records, shows Cameron's records total $5,006,604.47 and Tyler's total $5,011,860.44. After receiving the Bitcoin, the FEC filing shows that the committee sold the donated Bitcoin through Gemini. Under FEC rules, a political committee selling donated Bitcoin must name the exchange, though the buyer can remain anonymous and does not count as a contributor.
Together, the contributions add up to a $10 million political commitment, one of the most significant crypto donations ever reported to the FEC.The contributions were made in Bitcoin, a relatively novel form of campaign finance that Super PACs are permitted to accept, and MAGA Inc. can deploy the funds for independent expenditures in support of President Donald Trump.
The donation was recorded about three weeks after the CFTC filed a joint motion with Gemini in federal court in an attempt to reverse a January 2025 settlement over the company allegedly making false or misleading statements.The CFTC took the rare step of attempting to reverse the $5 million settlement it reached with Gemini in January 2025. In its motion, the CFTC acknowledged the original complaint was largely based on a whistleblower's account "known to be lacking in credibility," calling the exchange a "fraud victim."
CFTC Chair Michael Selig claimed at the time that the agency under former President Joe Biden "politically targeted" the Winklevosses through enforcement actions. Importantly, the donation came 23 days after the CFTC joined Gemini's effort to undo parts of its 2025 judgment, although the filing offers no evidence linking the two events, and the records provide no clear evidence that the donations caused or influenced the CFTC's action.
The Winklevoss brothers have a long track record of supporting Trump politically. In addition to the recent MAGA Inc. contributions, the Winklevoss brothers each donated $1 million to Trump's 2024 election campaign and supported the then-candidate through social media posts.Following Trump taking office in January 2025, the twins attended the signing ceremony for the GENIUS Act stablecoin payments bill and contributed $21 million in Bitcoin to the Digital Freedom Fund PAC in an effort to support the administration's efforts related to crypto policy. Gemini has now emerged as one of the largest crypto-aligned political donors backing the current administration.
Sources:Cointelegraph: Gemini Sent $10M in Bitcoin to Trump PAC after Joint Motion with CFTCCNBC: U.S. Regulator Moves to Withdraw $5 Million Penalty Against Winklevoss' Crypto ExchangeDecrypt: CFTC, Gemini File Joint Motion to Reverse $5M Settlement
