Cameron and Tyler Winklevoss, the visionary founders of Gemini, have made a bold move by donating $2 million worth of Bitcoin to former President Donald Trump.
Their donation underscores their strong support for Trump and sharp criticism of the current Biden administration's approach to cryptocurrency.
This move comes amidst a backdrop of increasing tension between the crypto industry and government regulators, positioning Trump as a clear advocate for the future of digital currencies.
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Gemini Founders Announce Support for Trump
On June 21, 2024, Cameron and Tyler Winklevoss, founders of the American cryptocurrency exchange Gemini, announced their donation of $1 million each in Bitcoin (BTC) to former President Donald Trump. This makes a total donation of $2 million worth of BTC.
Both Cameron and Tyler Winklevoss have expressed strong support for Trump while criticizing the current Biden administration.
In a lengthy post, Tyler Winklevoss detailed the administration's attacks on the cryptocurrency industry.
Criticism of the Crypto-Hostile Biden Administration
Despite recent news suggesting the Biden administration might support cryptocurrencies—such as considering accepting crypto donations and participating in Bitcoin-related roundtables—Tyler Winklevoss explained that the administration has publicly declared war on cryptocurrency over the past few years.
He specifically commented that various government agencies have been used as weapons to threaten, harass, and litigate against the good actors in the crypto industry, aiming to destroy it.
He also pointed out that the U.S. Securities and Exchange Commission (SEC) has deliberately avoided setting clear rules for cryptocurrency.
The SEC had not clarified whether Ethereum (ETH) was considered a security until recently. Tyler Winklevoss noted that if ETH were a security, sending it to a friend would violate securities laws since only securities brokers can transfer securities.
He likened the situation to telling a car to behave like a horse, criticizing the SEC for trying to kill cryptocurrency by undermining its practicality.
Trump as a Clear Cryptocurrency Supporter
Regarding Donald Trump, Tyler Winklevoss stated that Trump supports Bitcoin, cryptocurrency, and business unequivocally, leaving no room for debate.
Tyler Winklevoss emphasized that those who claim Trump is not a cryptocurrency supporter are either highly mistaken, delusional, or not telling the truth. He stressed that now is the time for the cryptocurrency community to send a message to Washington and reclaim the country.
In recent weeks, Trump has made several pro-cryptocurrency statements and initiatives, including:
- Stating that "coexistence with Bitcoin is possible"
- Urging cryptocurrency supporters to vote for Trump
- Aspiring to become a leader in the cryptocurrency industry
- Accepting multiple cryptocurrency donations for the U.S. presidential election
- Supporting BTC donations via the Lightning Network
- Announcing his desire to mine all remaining BTC in the U.S.
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“Bitcoin Mining as the Last Line of Defense Against CBDCs” - Former President Trump
Former President Donald Trump declares Bitcoin mining as the last defense against CBDCs, pledges to intensify Bitcoin mining in the U.S., and commits to protecting Bitcoin-related rights if re-elected.
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