Winklevoss Twins' Bitcoin Donation to Trump Campaign Raises Questions About Their Crypto Involvement

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Winklevoss Twins' Bitcoin Donation to Trump Campaign Raises Questions About Their Crypto Involvement

The Winklevoss Twins and Their Bitcoin Donation to Trump's Campaign

The Winklevoss twins, Cameron and Tyler, known for their dispute with Facebook founder Mark Zuckerberg and their current role managing Winklevoss Capital Management, donated Bitcoin equivalent to $1 million each to Donald Trump's 2020 presidential campaign. However, this donation exceeded the legal limit of $844,600 per person, and the excess amount was refunded to the twins.

The details of the refund remain unclear, with reports suggesting it could have been in Bitcoin or cash. The donated funds were distributed among Trump's campaign, his legal bills, the Republican National Committee, and various GOP state party committees.

This incident has raised questions about the twins' involvement in the crypto industry, particularly after their joint venture with the now-bankrupt Genesis led to difficulties for users trying to recover funds invested in Gemini Earn, a yield-earning crypto assets program. The New York attorney general recently recovered $50 million from Gemini for users who were allegedly defrauded.

Despite these controversies, the Winklevoss twins remain active in the crypto space. They operate the Gemini crypto exchange and have expressed support for Bitcoin and other cryptocurrencies. Trump, on the other hand, has also been actively courting the crypto industry, accepting crypto donations and discussing cryptocurrency policy with figures like Elon Musk.

It remains to be seen how these developments will impact the future of both the Winklevoss twins and the crypto industry as a whole.