The Winklevoss twins made $2 million in BTC for Trump’s presidential campaign

Gemini co-founders Tyler and Cameron Winklevoss have announced that they have each donated $1 million in Bitcoin to former President Donald Trump's campaign.

Both have publicly declared their support for Trump in the upcoming November election and criticized the Biden administration for arming several government agencies to prosecute and prosecute the cryptocurrency industry.

The Biden Administration's War on Crypto

In a June 20 X post, Tyler Winklevoss said: “I just gave $1 million in Bitcoin (15.47 BTC) to @realDonaldTrump and will vote in November. He accused the Biden administration of engaging in a “war on crypto” by encouraging federal agencies to undermine the industry.

Winklevoss specifically mentioned what he called “Operation Choke Point 2.0.”

I just gave $1 million in bitcoin (15.47 BTC) to @realDonaldTrump and will vote in November. This is the reason.

Over the past few years, the Biden administration has officially declared war on crypto. To intimidate, harass, and…pic.twitter.com/qOQSpmanBR multiple government agencies

— Tyler Winklevoss (@tyler) June 20, 2024

According to Tyler, these agencies have used their regulatory powers to pressure behind-the-door banks to intimidate those who continue to provide services to crypto companies.

“The conversation goes something like this: ‘That's a good bank you got there.' It would be a shame if something happened to some of the crypto folk you're paying for, he explained. Tyler says these tactics force banks to choose between cutting ties with crypto companies or face the consequences of being regulated, effectively stifling the industry.

The SEC's crypto policies and Biden's business antagonism

The brothers criticized the Securities and Exchange Commission's (SEC) handling of cryptocurrency regulation. Tyler believes the SEC's lack of clear rules for the industry has allowed it to use outdated rules, such as the Supreme Court's 1946 Howey test, to classify most cryptocurrencies as securities, creating legal ambiguities and stifling innovation.

“The game is simple. Make it impossible to comply, then sue everybody for not complying,” Tyler said, accusing the Biden SEC of intentionally creating a hostile environment for crypto businesses. He warned that this approach not only stifles innovation but also leads to economic waste, with companies facing endless legal battles.

He also denounced the Biden administration for what it sees as widespread hostility toward American businesses and successful industries, accusing it of seeking control and political gain at the expense of the American economy.

Tyler concluded, “President Donald J. Trump is pro-crypto, pro-business, and pro-Bitcoin,” he confirmed. He called for the “crypto army” to rally behind Trump, saying that a vote for the former president is a vote against the current administration's brutality and hatred of the crypto industry.