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Gemini co-founders Cameron and Tyler Winklevoss have pledged to donate $2 million worth of Bitcoin to former US President Donald Trump for his reelection campaign.
“It’s time for the crypto army to send a message to Washington,” said Tyler Winklevoss in a post on X. “That attacking us is political suicide. This is why I will be casting my vote for President Trump in November.”
In posts published on X, the Winklevoss twins accused the Biden administration of weaponizing the US Securities and Exchange Commission (SEC) against crypto. They said that Trump is “pro-Bitcoin, pro-crypto, and pro-business choice.”
I just donated $1 million in bitcoin (15.47 BTC) to @realDonaldTrump and will be voting for him in November. Here’s why:
Over the past few years, the Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and… pic.twitter.com/qOQSpmanBR
— Tyler Winklevoss (@tyler) June 20, 2024
The donation follows Trump’s open support for the crypto industry on his campaign trail. Some of his promises include supporting Bitcoin mining and US crypto businesses.
Biden Declared War Against Crypto
Tyler said his decision to endorse Trump followed a series of anti-crypto actions by the Biden administration.
He accused the US government of using the banking system to fight crypto companies. According to Tyler, US banks are threatened with fines and new supervisory rules if they attempt to bank crypto companies.
He also alleged losing multiple bank accounts because of owning crypto assets.
Tyler also took a swing at the SEC for failing to develop explicit rules for the crypto industry. That failure was “by design” to cripple the industry, he added.
“The game is simple,” Tyler said. “Make it impossible to comply, then sue everyone for not complying.”
Still, some members of the crypto community remain skeptical that Trump will bring meaningful change for the industry, as he did nothing to support it when he was president.
The Biden campaign has in the meantime reached out to senior members of the crypto industry, and seemingly softened its stance against it.
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