Gemini sent $10M in Bitcoin to Trump PAC after joint motion with CFTC
Summary
Gemini Trust sent $10 million in Bitcoin to MAGA Inc., a super PAC backing President Trump, split into two transfers of more than $5 million each on June 19. The donation came weeks after the CFTC and Gemini filed a joint motion to undo a January 2025 settlement tied to allegations that Gemini made false or misleading statements. CFTC Chair Michael Selig has said the prior enforcement action was politically motivated under the Biden administration. The Winklevoss twins have repeatedly backed Trump and pro-crypto causes, including earlier donations and support for related PACs and ventures. The move drew criticism from Sen. Elizabeth Warren, who warned about political pressure and wealthy insider influence.
