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Tyler and Cameron Winklevoss, the co-founders of Gemini, have announced their donations of $1 million each in Bitcoin to former President Donald Trump’s campaign. Both have publicly declared their support for Trump in the upcoming November election, criticizing the Biden administration for weaponizing multiple government agencies to bully and sue the cryptocurrency industry. Biden Administration War Against Crypto In a June 20 X post, Tyler Winklevoss stated, “I just donated $1 million in Bitcoin (15.47 BTC) to @realDonaldTrump and will be voting for him in November.” He accused the Biden administration of engaging in a “war against crypto” by leveraging federal agencies to undermine the industry. Winklevoss specifically pointed to what he termed “Operation Choke Point 2.0,” a reference to alleged actions by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to discourage banks from engaging with cryptocurrency companies. I just donated $1 million in bitcoin (15.47 BTC) to @realDonaldTrump and will be voting for him in November. Here’s why: Over the past few years, the Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and… pic.twitter.com/qOQSpmanBR — Tyler Winklevoss (@tyler) June 20, 2024 According to Tyler, these agencies have pressured banks behind closed doors, using their regulatory powers to threaten those that continue to provide services to crypto firms. “The conversation goes something like this: ‘That’s a nice bank you got there. It sure would be a shame if something were to happen to it because you bank some crypto folks,’” he elaborated. Tyler claimed these tactics force banks to choose between severing ties with crypto companies or facing regulatory repercussions, effectively stifling the industry. SEC’s Crypto Policies and Biden’s Business Antagonism The brothers also criticized the Securities and Exchange Commission (SEC) for…

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Filed under: News - @ June 21, 2024 12:14 pm