{"id":7514,"date":"2026-07-23T21:55:50","date_gmt":"2026-07-23T21:55:50","guid":{"rendered":"https:\/\/nile1.com\/en\/?p=7514"},"modified":"2026-07-23T21:55:57","modified_gmt":"2026-07-23T21:55:57","slug":"winklevoss-led-gemini-donates-10m-in-bitcoin-to-trump-super-pac-amid-push-to-overturn-cftc-settlement","status":"publish","type":"post","link":"https:\/\/nile1.com\/en\/2026\/07\/23\/winklevoss-led-gemini-donates-10m-in-bitcoin-to-trump-super-pac-amid-push-to-overturn-cftc-settlement\/","title":{"rendered":"Winklevoss-Led Gemini Donates $10M in Bitcoin to Trump Super PAC Amid Push to Overturn CFTC Settlement"},"content":{"rendered":"

Gemini Trust Company, the cryptocurrency exchange founded by billionaires Cameron and Tyler Winklevoss, has contributed $10 million in Bitcoin<\/a> to MAGA Inc., a major super PAC backing President Donald Trump<\/a>. The high-profile donation, revealed in federal disclosures, coincided with an unusual legal maneuver by federal regulators to undo a $5 million enforcement settlement against the exchange.<\/p>\n

According to Federal Election Commission (FEC) filings submitted on Monday, Gemini transferred two separate Bitcoin transactions, each valued at over $5 million, to the political action committee on June 19. These contributions came just three weeks after the Commodity Futures Trading Commission (CFTC) and Gemini filed a joint motion in the U.S. District Court for the Southern District of New York. The motion seeks to reverse a January 2025 settlement over allegations that Gemini made false and misleading statements to regulators.<\/p>\n

Super PACs, or independent expenditure-only political action committees, are permitted to raise unlimited sums of money from corporations, unions, and individuals to advocate for or against political candidates, provided they do not coordinate directly with the campaigns. The massive Bitcoin influx highlights the growing financial muscle of the cryptocurrency sector in U.S. politics. According to data tracked by OpenSecrets<\/a>, the digital asset industry has emerged as one of the most dominant financial forces in recent election cycles, pouring hundreds of millions of dollars into campaigns to secure favorable regulatory frameworks.<\/p>\n

The attempt to roll back Gemini’s $5 million penalty has drawn sharp criticism. Senator Elizabeth Warren<\/a> voiced her concerns in a June letter to CFTC Chair Michael Selig, characterizing the joint motion as a sign of an agency “beholden to political pressures and interests of the wealthy insiders.” Warren argued that the move undermines market integrity and the rule of law.<\/p>\n

Despite the push to reverse the court order, a CFTC spokesperson stated in June that the $5 million penalty already paid by Gemini would not be refunded, even if the court approves the motion.<\/p>\n

The legal shift comes under the leadership of Selig, a Republican who was confirmed to the CFTC in December 2025. Selig currently operates as the agency’s sole commissioner due to a lack of nominations from the White House to fill the remaining four bipartisan seats. Selig has previously claimed that the CFTC politically targeted the Winklevoss brothers under the previous administration.<\/p>\n

The vacant seats at the CFTC come at a critical juncture for the industry. Congress is currently debating the Digital Asset Market Clarity (CLARITY) Act, a legislative proposal designed to establish a comprehensive regulatory framework for digital assets. If passed, the bill would significantly expand the CFTC’s jurisdiction over the crypto market, making the leadership and political alignment of the commission highly consequential for firms like Gemini.<\/p>\n

The $10 million Bitcoin contribution is part of a broader, aggressive political push by the Winklevoss twins. In addition to direct campaign donations of $1 million each to Trump, the brothers have poured $21 million in Bitcoin into the Digital Freedom Fund PAC. They have also actively supported the Trump administration’s legislative initiatives, including attending the signing ceremony for the GENIUS Act<\/a>, a stablecoin payments bill passed in early 2025, and backing a crypto mining venture, American Bitcoin, associated with Trump\u2019s sons.<\/p>\n

As of June 30, the MAGA Inc. super PAC reported total receipts exceeding $397 million. The U.S. District Court has yet to rule on the joint motion to vacate Gemini\u2019s settlement.<\/p>\n

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