The Winklevoss twins, Cameron and Tyler Winklevoss, known for founding the Gemini exchange, just made a major move in the crypto market. They snapped up over $42 million worth of Bitcoin (BTC) today, according to reports. Ad Ad Winklevoss Twins Buy More Bitcoin Per Arkham Intelligence data, the Winklevoss twins withdrew 572 BTC worth $42.77
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]]>Tyler and Cameron Winklevoss, co-founders of the cryptocurrency exchange Gemini, have donated $21 million in Bitcoin (188 BTC) to the Digital Freedom Fund PAC. This move is a direct effort to support President Donald Trump’s vision of making the United States a global leader in cryptocurrency. Gemini Founders Winklevoss Twins Back Trump Crypto Vision The
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]]>The Winklevoss twins, co-founders of Gemini, have each contributed $1 million in Bitcoin to the reelection campaign of the former U. S. President Donald Trump.
The twins endorsed Trump, stating that he is a supporter of cryptocurrency and that President Joe Biden has declared war on the crypto space.
Winklevoss Twins’ Endorsement
Cameron and Tyler Winklevoss have stated that they will be voting for the current Republican candidate for president, Donald Trump. Each of the brothers sent 15.47 BTC, or approximately $1 million, to Trump’s campaign.
I also just donated $1 million in bitcoin (15.47 BTC) to @realDonaldTrump and will be voting for him in November.
Here’s the TL;DR — President Trump is:
Pro-Bitcoin
Pro-Crypto
Pro-BusinessAnd he will put an end to the Biden Administration’s war on crypto. Onward! https://t.co/r6iDP7BdbE
— Cameron Winklevoss (@cameron) June 20, 2024
Tyler Winklevoss claimed that Trump was “pro-Bitcoin” and “pro-crypto,” and accused President Biden of launching a war against the crypto industry. He claimed that the Biden administration was using regulatory actions against crypto firms and called it the “weaponization of the banking system against crypto companies. ”
Also, Tyler recalled that the U. S. Securities and Exchange Commission (SEC) has been taking enforcement actions against companies involved in cryptocurrencies during Biden’s administration and referred to it as Operation Choke Point 2.0.
Trump’s Legal and Political Maneuvers
Despite the cases that he is still facing in the courts, Trump has not faded from the political stage. In May, he was found guilty on 34 felony charges with a scheduled sentencing hearing for July 11. Nevertheless, he has high poll ratings as for a potential candidate for the Republican nomination for the presidency.
Trump’s positive attitude towards cryptocurrencies has brought debate among his supporters and opponents. On the one hand, many people have supported the endorsement of the Winklevoss twins, however, others have raised an eyebrow at Trump’s move since he once called Bitcoin a scam in 2021. However, Trump has since embraced the crypto space and dubbed himself the ‘Crypto President’ in a bid to woo the crypto community.
On the other hand, President Biden has come under fire for his administration’s regulatory policies. There are indications that Biden may also want to take cryptocurrency for his reelection campaign. The changing political environment indicates that cryptocurrency is becoming an essential part of the U.S. political process, and candidates from both parties are interacting with the industry to different extents.
Former President’s Commitment to Crypto
Speaking at a fundraising event in San Francisco, Trump vowed to put an end to Biden’s ‘war on crypto’ should he win the election.
This position is in line with the opinion of some international leaders including Nayib Bukele, the President of El Salvador who endorsed Trump’s bid.
Also, Trump has been making efforts to be close to the crypto community and has invited NFT buyers for a dinner, announced that his campaign will be accepting crypto donations, and met with major mining companies. According to Coingape’s report, he intends to support the crypto industry, promising all BTC would be mined within the United States.
Read Also: US Presidential Candidate Donald Trump Meets Bitcoin Miners In the US, What’s Cooking?
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- Winklevoss twins donate $2M in Bitcoin to Donald Trump’s campaign.
- The Gemini founders cited Trump’s pro-business and pro-crypto stance as reasons for their support.
- Trump’s campaign recently announced that it would start accepting crypto donations.
The founders of Gemini, Cameron Winklevoss and Tyler Winklevoss, commonly referred to as the Winklevoss twins, have each donated $1 million worth of Bitcoin (BTC) to the campaign of former president Donald Trump.
The twins’ decision to donate such a substantial amount in Bitcoin marks a significant step in the intersection of technology, finance, and political fundraising. It underscores the growing influence of cryptocurrency in mainstream politics, where digital assets are increasingly becoming a viable form of campaign contributions.
Supporting Trump for his pro-crypto stance
Announcing his donation, Tyler Winklevoss articulated his support in a statement shared on X, emphasizing Trump’s favorable stance on crypto and business. He criticized the Biden Administration’s approach, accusing it of aggressive tactics against the crypto industry.
Similarly, Cameron Winklevoss echoed his brother’s sentiments, portraying Trump as a proponent of Bitcoin and cryptocurrencies, aligning with their business interests and regulatory concerns.
Trump’s position on cryptocurrency
Donald Trump’s acceptance of Bitcoin donations from the Winklevoss twins reflects his evolving stance on cryptocurrency.
While specifics on Trump’s cryptocurrency policies during his presidency were limited, his campaign’s acceptance of Bitcoin donations signals a willingness to engage with the digital asset community. This move contrasts with the cautious approach of the current administration to cryptocurrency regulation, indicating a potential shift in political strategy regarding digital finance.
Recently, Trump sat down with Bitcoin mining experts and executives at the Mar-a-Lago Club in Palm Beach, Florida, discussing how the U.S. needs to be at the forefront when it comes to Bitcoin issues.
With various government agencies scrutinizing digital assets, the Winklevoss twins’ donation to Trump may serve as a catalyst for discussions on how political candidates and parties perceive and integrate digital currencies into their campaigns.
As reported by financial time, U.S. SEC today sued crypto trading group Gemini and Genesis. The charges have specifically been filed for Gemini’s earn program that allows crypto traders to earn interest over their deposited crypto tokens. SEC claims that crypto lending scheme offered by Gemini were not properly registered as securities.
Gemini And Genesis Under SEC Scanner
Earlier today, SEC enforcement action announced that Gemini and Genesis group are being sued for not registering their crypto lending program properly as securities. SEC claims that Gemini charged agent fees as high as 4.29% for facilitating the scheme.
During the FTX crisis, Genesis disabled withdrawals citing insufficient liquidation as a result of crypto market crash. Following this investors have not been able to withdraw their funds till date.
Not only this, Gemini Co-founder Cameron Winklevoss and DCG CEO Barry Silbert are already at cross roads. In a recent public outage Gemini Co-founder demanded firing Barry Silbert. DCG group owns Genesis along with media outlet coindesk and investment manager Grayscale.
The post Breaking: US SEC Sues Winklevoss Twin’s Crypto Exchange Gemini appeared first on CoinGape.
]]>Bitcoin, ethereum and other major cryptocurrencies have suffered a brutal crash over the last few months—with investors told to brace themselves for an economic “hurricane.”
The bitcoin price has dropped to under $30,000 per bitcoin, down from almost $70,000 late last year. The ethereum price has seen even sharper falls while other top ten cryptocurrencies BNB, XRP, solana, cardano and dogecoin have cratered (despite Elon Musk revealing one reason he thinks “people love dogecoin”).
Now, billionaire bitcoin twins Cameron and Tyler Winklevoss have been forced to lay off 10% of the workforce at their Gemini crypto exchange—warning the market has entered a “contraction phase” known as “crypto winter.”
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The bitcoin price has lost more than 50% over the last six months, plunging major coins ethereum, … [+]
“The crypto revolution is well underway and its impact will continue to be profound,” the twins wrote in a memo to staff.
“But its trajectory has been anything but gradual or predictable. Its path can best be described as punctuated equilibrium—periods of equilibrium or stasis that are punctuated by dramatic moments of hypergrowth, followed by sharp contractions that settle down to a new equilibrium that is higher than the one before. This is where we are now, in the contraction phase that is settling into a period of stasis—what our industry refers to as ‘crypto winter.'”
The crypto price crash has wiped more than $1.5 trillion worth of value from the combined crypto market in recent months as price of bitcoin, ethereum and other cryptocurrencies plummet in the face of an increasingly hawkish Federal Reserve, the economic fallout from Russia’s war in Ukraine and continued supply chain issues in China.
The twins wrote the “turbulent market conditions that are likely to persist for some time.” Following bitcoin’s huge 2017 rally, the market went into a multi-year period of contraction, with the bitcoin price losing almost 90% of its value before beginning to rebound. Other smaller cryptocurrencies saw even sharper declines and many have never recovered.
The Winklevoss brothers, who are also known for their early involvement in the creation of Facebook, are thought to have lost around 40% of their fortunes this year, according to a report by Bloomberg last month. The twins are each worth $3.6 billion, according to Forbes‘ calculations.
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The bitcoin price has swung wildly over the last year, soaring to almost $70,000 per bitcoin before … [+]
Elsewhere, another major crypto exchange Coinbase has announced it’s extending its hiring freeze indefinitely and has had to rescind some already accepted job offers.
“We will extend our hiring pause for the foreseeable future,” Coinbase chief people officer LJ Brock wrote in a blog post, pointing to the crypto crash as weighing on its business. “We will also rescind a number of outstanding offers for people who have not started yet.”
Coinbase, which has seen its stock price plummet since it made its market debut just over a year ago, recently reported a 35% revenue slump to $1.17 billion for the three months ended March 31.
Yuki Cheung/EyeEm/Getty
- Gemini has added shiba inu to its platform following meme token’s stunning rally this year.
- The crypto exchange also announced the listing of audius, mask network, quant, radicle, and fetch, among others.
- Gemini joins the growing list of exchanges in listing the new coin amid a surge in demand from retail investors.
- Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Crypto exchange Gemini has added shiba inu coin to its platform following meme token’s stunning rally this year.
Along with the dogecoin spinoff, the exchange also announced the listing of audius, mask network, quant, radicle, fetch, and wrapped centrifuge, among others.
Gemini, founded by Tyler and Cameron Winklevoss in 2014, currently offers the trading and custody for more than 60 tokens.
“Dear #SHIB army, Gemini has answered your call. To the moon!” Tyler Winklevoss tweeted on November 15.
Gemini joins the growing list of crypto exchanges in listing the new coin amid a surge in demand from retail investors.
Coinbase, the largest crypto exchange in the US listed shiba inu in September, and was followed by Public in November. Crypto.com listed shiba inu in May while eToro listed it in July.
The eye-popping rally of the dogecoin spinoff has propelled it to become the 11th largest cryptocurrency by market valuation, according to CoinMarketCap, after being created only in August 2020. It has gained almost 570% in a month, compared with a rise of 20% in bitcoin, the largest crypto by market value.
Shiba inu’s growth reinforces why some retail investors are directing their attention to newer and lesser-known coins, which have become popular for their hefty gains compared to other more established assets.
Still, some exchanges, like Robinhood, said they choose to take a more cautious approach and focus on investor protection before listing.
Shiba inu is an ethereum-based alternative to dogecoin. It was founded by someone going by the name Ryoshi, whose goal was to move away from “rigid social structures and traditional mindsets,” according to the coin’s 28-page white paper, dubbed a “woof paper.”
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