Key Takeaways:
- The Winklevoss twins had $2 million donations each to Trump’s campaign refunded for exceeding the federal Bitcoin donation limit of $844,600.
- The refunded funds were distributed among Trump’s campaign, a PAC, the RNC, and state Republican committees.
- The incident highlights the crypto industry’s growing involvement in political campaigns, with the Winklevoss twins supporting pro-crypto candidates.
The Winklevoss twins, founders of the Gemini crypto exchange, had their donations to former President Donald Trump’s election campaign refunded after exceeding the federal limit for Bitcoin donations.
They had donated $2 million each, surpassing the $844,600 legal maximum.
The Winklevoss twins were refunded after their Bitcoin donations to Trump’s presidential campaign exceeded the maximum amount allowed under federal law https://t.co/cZ6BUh5aFS
— Bloomberg Crypto (@crypto) June 21, 2024
It is unclear if the excess funds were refunded in Bitcoin or as cash equivalents.
[BLOOMBERG] Winklevoss Twins Refunded After #Trump Crypto Gift Exceeded Limit https://t.co/uCegUU0t0M
— BecauseBitcoin.com (@BecauseBitcoin) June 22, 2024
The returned funds were allocated among Trump’s campaign, a leadership PAC, the Republican National Committee, and various state Republican Party committees.
The incident underscores the growing relationship between the crypto industry and political campaigns, particularly as crypto advocates support candidates with favorable regulatory views.
🔵 TRUMP CAMPAIGN REFUNDS WINKLEVOSS TWINS AFTER BITCOIN DONATIONS EXCEED LIMIT, BLOOMBERG NEWS REPORTS
— PiQ (@PiQSuite) June 21, 2024
The billionaire Winklevoss twins, founders of cryptocurrency company Gemini, were refunded after their bitcoin donations to Donald Trump's presidential campaign exceeded the… pic.twitter.com/IqnKgtEHHb
The Winklevoss twins also attended a high-cost fundraiser for Trump and have supported the Fairshake PAC, which targets anti-crypto lawmakers.
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