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Gemini sends $10M in Bitcoin to Trump super PAC as CFTC case weighs
The transfer came about three weeks after the CFTC and Gemini filed a joint motion to revisit a January 2025 $5 million settlement, according to the super PAC’s FEC report.
Gemini Trust Company sent $10 million in Bitcoin to a Trump-aligned super political action committee as a New York court considers whether to reverse a prior settlement involving the firm and the US Commodity Futures Trading Commission, Cointelegraph reports. In a Federal Election Commission filing, the MAGA Inc. Super PAC said Gemini made two separate Bitcoin contributions, each worth more than $5 million, on June 19. The super PAC reported that the funds may be used for independent expenditures supporting President Donald Trump. The donation was recorded roughly three weeks after the CFTC filed a joint motion with Gemini in federal court seeking to overturn a January 2025 settlement. The dispute centers on allegations that Gemini made false or misleading statements, and the CFTC said at the time the agency, under the Biden administration, “politically targeted” the Winklevosses through enforcement actions. Cointelegraph also notes the Winklevoss brothers have been active in pro-Trump political giving and crypto-related efforts. After Trump took office in January 2025, they attended the signing ceremony for the GENIUS Act, backed an American Bitcoin venture tied to stablecoin payments, and contributed $21 million in Bitcoin to the Digital Freedom Fund PAC.
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