Svmuu News: The cryptocurrency exchange Gemini donated approximately $10 million worth of Bitcoin to MAGA Inc., a super PAC supporting U.S. President Donald Trump.According to a report filed with the Federal Election Commission (FEC), Gemini co-founders Cameron Winklevoss and Tyler Winklevoss made the donation in two separate installments on June 19, each worth more than $5 million.
The donation came about three weeks after the CFTC and Gemini jointly filed a motion with the U.S. District Court for the Southern District of New York seeking to rescind the $5 million settlement agreement reached between the two parties in January 2025. That settlement stemmed from the CFTC’s prior allegations that Gemini had made false or misleading statements.MAGA Inc. may use these funds to support Donald Trump’s independent political expenditures.
Previously, the Winklevoss brothers each donated $1 million to Donald Trump’s 2024 campaign and $21 million to the Digital Freedom Fund PAC Bitcoin to support the cryptocurrency policy direction of a Donald Trump administration.Currently, the court has not yet ruled on the CFTC’s and Gemini’s motions to rescind the settlement. Meanwhile, CFTC Chairman Michael Selig remains the agency’s sole commissioner. As of June 30, MAGA Inc. reported having received more than $397 million in funds.