Bitcoin News Today: Winklevoss Twins Invest in Trump Family's Bitcoin Mining Venture

The Winklevoss twins, co-founders of Gemini, have made a significant investment in American Bitcoin, a cryptocurrency mining company co-founded by Donald Trump Jr. and Eric Trump [1]. While the exact amount of the investment has not been disclosed, the move signifies a deepening relationship between the crypto entrepreneurs and the Trump family [2]. American Bitcoin announced plans to go public through a merger with Gryphon Digital Mining, a deal that would bring the company into the spotlight in the competitive Bitcoin mining industry [3].

The investment adds to the Winklevoss twins’ broader engagement with the Trump administration. Earlier this year, the brothers contributed $2 million to Donald Trump’s 2024 presidential campaign [1]. They have also participated in key administration events related to cryptocurrency, including a March White House crypto summit and the July 18 signing ceremony for the GENIUS Act, a piece of legislation aimed at regulating payment stablecoins [4].

The connection appears to have yielded tangible benefits for Gemini. In February, the SEC, under the leadership of Trump appointee Paul Atkins, dropped an investigation into Gemini’s Earn program over allegations of offering unregistered securities [5]. In June, Gemini filed for an IPO, a move that would transition the privately held exchange into a publicly traded company, potentially increasing its capital and market presence [6].

According to Politico, the Winklevoss twins may have played a role in the delay of Brian Quintenz’s nomination for chair of the CFTC [7]. Although the Senate Agriculture Committee had scheduled a vote on his nomination before the August recess, the vote was postponed at the request of the White House. This suggests that the influence of the Winklevoss twins may extend beyond financial support into regulatory and policy realms [8].

The Winklevoss twins’ public alignment with the administration has continued to grow. During the GENIUS Act signing ceremony, President Trump personally acknowledged their contributions, and the brothers stood alongside other industry leaders as the legislation was enacted [9]. Their political and financial engagement reflects a broader trend in the crypto industry, where business strategy is increasingly intertwined with political influence [10].

Gemini has not disclosed the specific terms of the American Bitcoin investment, and a spokesperson has yet to comment on the matter [11]. The company’s involvement in this venture highlights the expanding influence of the Winklevoss twins in both the cryptocurrency market and the political landscape [12].

Source:

[1] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

https://blockonomi.com/winklevoss-twins-invest-in-trump-family-bitcoin-mining-venture/

[2] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[3] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[4] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[5] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[6] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[7] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[8] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[9] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[10] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[11] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture

[12] Winklevoss Twins Invest in Trump Family Bitcoin Mining Venture