(Reuters) – The billionaire Winklevoss twins, founders of cryptocurrency company Gemini, said on Thursday they had each donated $1 million in bitcoin to support Donald Trump, the latest cryptocurrency executive to endorse the Republican presidential candidate.
Tyler and Cameron Winklevoss, whose crypto firm reached settlements with financial regulators in US states and New York in February following allegations of wrongdoing, announced the donations in posts on social media site X.
They did not specify where the donations were sent.
Tyler Winklevoss reported that President Joe Biden’s Democratic administration had “openly declared war on cryptocurrency” and that Trump was “pro-bitcoin, pro-crypto and pro-business.”
Trump has portrayed himself as a champion of cryptocurrency, including at a fundraiser in San Francisco this month with tech executives, during which he criticized Democratic attempts to regulate the crypto sector.
The crypto industry is increasingly trying to influence U.S. policymakers as it faces increased regulatory scrutiny, especially after the 2022 bankruptcies of major crypto firms spooked investors, exposed fraud and misconduct and left millions of investors out of pocket.
In February, the New York Department of Financial Services (NYDFS) said Gemini would return at least $1.1 billion to customers of its lending program distressed by a third-party bankruptcy and pay a $37 million fine for unsafe and unreasonable practices. actions within the framework of the lending program. settlement with the regulator.
Gemini also settled an SEC lawsuit alleging unsafe and frivolous practices in February for $21 million, without admitting or denying wrongdoing in the agreement.
The Winklevoss twins rose to fame after suing Facebook (NASDAQ:) and its CEO Mark Zuckerberg, claiming he stole their idea for a social network. In 2008, they agreed to a settlement in which they received cash and shares of Facebook.
The Biden administration did not immediately respond to requests for comment.