Gemini crypto exchange founded by Tyler Winklevoss (L) and Cameron Winklevoss could be barred from New York's financial industry if a lawsuit filed by that state's attorney general succeeds in proving investors were duped
Tyler and Cameron Winklevoss founded crypto exchange Gemini. AFP

KEY POINTS

  • Tyler wrote a long post that slammed the Biden administration for declaring a war on crypto
  • He said the administration weaponized banks against the digital assets sector
  • Cameron said Trump can end the Biden government's hostility toward the industry

The Winklevoss twins, Tyler and Cameron, said they donated $2 million worth of Bitcoins to the 2024 presidential campaign of Republican candidate Donald Trump, marking one of the most high-profile donations the campaign has received so far.

Tyler first announced his donation of 15.47 BTC worth around $1 million to the Trump campaign on Thursday. He also declared that he will vote for the GOP frontrunner during the November 2024 elections.

The former Olympic rower explained in a long post on X (formerly Twitter) why he has decided to choose Trump, including what he said was the "war against crypto" that incumbent President Joe Biden's administration has "openly declared."

He accused the administration of weaponizing "the banking system against crypto companies and their principals," adding that in the supposed "Operation Choke Point 2.0" implemented by the Biden government, banks are ordered not to engage with crypto firms and banks that refuse the order are "threatened."

He also blasted the administration's alleged "weaponization" of the U.S. Securities and Exchange Commission (SEC), which has been criticized by the digital assets space for its hostile approach toward regulating the sector.

Finally, he praised Trump for being a "pro-Bitcoin, pro-crypto, and pro-business choice" candidate. He then urged the "crypto army" to send a message to the White House that an attack against the industry "is political suicide."

Cameron followed suit shortly, announcing he donated the same amount of Bitcoins to the Trump campaign. He said the business magnate will "put an end to the Biden Administration's war on crypto."

Prominent names in both the political, activism, and crypto space took the news positively. Former GOP congressional nominee and far-right activist Laura Loomer, thanked the crypto executives for their support.

The X handle of crypto data provider Sistine Research also hailed the donation, suggesting further that the TRUMP token should be listed on Gemini, the Winklevoss twins' crypto exchange.

However, not everyone agreed that the Winklevoss twins were supporting the right candidate. Music maker Zenn Gordon said the Tyler and Cameron were "supporting the sorest loser in the history of the universe who attempted a coup that failed."

One user said it was "sad" that Tyler was supporting a candidate who "says anything to get elected" and recommended checking out Robert Kennedy Jr., who has been advocating for Bitcoin for several years now.

News of the Winklevoss twins' donations to the Trump campaign comes as the former president has been making some promises to the crypto sector ahead of the elections. His most recent declaration was made during an event that marked his 78th birthday, wherein he said he will make sure Bitcoin and crypto's future "will be made in America" and "a lot" of the activity will revolve around Florida.

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