Odaily Planet Daily report: Cryptocurrency exchange Gemini donated approximately $10 million worth of Bitcoin to MAGA Inc., a super PAC supporting U.S. President Donald Trump. According to filings with the U.S. Federal Election Commission (FEC), Gemini co-founders Cameron Winklevoss and Tyler Winklevoss made two separate donations on June 19, each valued at over $5 million. This donation occurred approximately three weeks after CFTC and Gemini jointly filed a motion with the U.S. District Court for the Southern District of New York seeking to vacate a $5 million settlement agreement they reached in January 2025. The settlement stemmed from prior CFTC allegations that Gemini had issued false or misleading statements. MAGA Inc. may use these funds to support independent political expenditures for Donald Trump. Previously, the Winklevoss brothers each donated $1 million to Donald Trump’s 2024 campaign and contributed $21 million in Bitcoin to the Digital Freedom Fund PAC to support the Trump administration’s cryptocurrency policy direction. As of now, the court has not yet ruled on the motion to vacate the settlement between CFTC and Gemini. Meanwhile, CFTC Chair Michael Selig remains the agency’s sole commissioner. As of June 30, MAGA Inc. reported having received over $397 million in contributions.
Gemini donates $10 million in Bitcoin to MAGA Inc., which supports Trump.
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Summary
Bitcoin breaking news: Gemini donated $10 million in Bitcoin to MAGA Inc., a pro-Trump super PAC. The Winklevoss twins transferred the funds in two installments on June 19. This followed Gemini and the CFTC filing a court motion to rescind a $5 million settlement from January 2025. The case remains pending. As of June 30, MAGA Inc. reported over $397 million in funding. CFTC Chair Michael Selig is the agency’s only active commissioner.
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