The post Excess Winklevoss Brothers’ Trump Campaign Donation Returned appeared on BitcoinEthereumNews.com.

Winklevoss brothers refunded the excess $311,400 to Trump’s campaign after $1M Bitcoin donations exceeded the legal limit. Winklevoss twins refunded $155,400 each. Winklevoss twins, who are the founders of the cryptocurrency company Gemini, got their excess Bitcoin donation to Donald Trump’s presidential campaign returned because the contributions they made exceeded the maximum legal limit. Cameron and Tyler Winklevoss each contributed $1 million in Bitcoin to the Trump campaign, a contribution that exceeded the $844,600 limit for individuals to contribute to political campaigns. Excess Of Winklevoss Brothers Trump Bitcoin Campaign Donation Returned A campaign official, speaking anonymously, clarified that the excess amount was refunded to the Winklevoss twins, each $ 155,400.  However, whether the refund was in Bitcoin or its cash equivalent remains to be determined. The Trump campaign has accepted Bitcoin donations, reflecting the former president’s embrace of the cryptocurrency community.  The contributions are divided among Trump’s campaign, his leadership political action committee, the Republican National Committee, and 42 state GOP committees. Such donations arrived as Trump sided with the crypto community and voiced against the democrats’ efforts to regulate the industry.  The Winklevoss twins, who are also known for their Bitcoin investment, have openly supported Trump and labeled him as a “pro-Bitcoin” and “pro-crypto” candidate. Regulatory Challenges and Industry Relations Gemini, a crypto exchange founded by the Winklevoss twins, has also been through some regulatory challenges such as a settlement with the US and New York state financial regulators and a lawsuit by the Securities and Exchange Commission (SEC). Nevertheless, the Winklevoss brothers still stand for Trump and consider him as the protector of the crypto industry from regulatory actions.  Some activities that demonstrate Trump’s crypto friendship are his meetings with Bitcoin miners in a recent round table. Although Trump has been charged with 34 felonies and has faced…

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Filed under: News - @ June 23, 2024 6:22 am