The Winklevoss brothers donate $2 million to Donald Trump’s campaign, say Biden is using the SEC as a weapon against cryptocurrencies.

Cameron and Tyler Winklevoss, co-founders of Gemini, have pledged to donate $2 million worth of Bitcoin to former US President Donald Trump’s re-election campaign.

“It’s time for the crypto army to send a message to Washington,” Tyler Winklevoss said in a post on X. He added: “Attacking us is political suicide. This is why I will cast my vote for President Trump in November.”

In posts on X, the Winklevoss twins accused the Biden administration of using the US Securities and Exchange Commission (SEC) as a weapon against cryptocurrencies. They said Trump is “pro-bitcoin, pro-crypto, and pro-business.”

You just donated $1 million worth of Bitcoin (15.47 BTC) to… @RealDonaldTrump He will be voted on in November. Here’s why:

Over the past few years, the Biden administration has openly declared war against cryptocurrencies. It has weaponized numerous government agencies to bully, harass, and… pic.twitter.com/qOQSpmanBR

– Tyler Winklevoss (@tyler) June 20, 2024

This donation comes on the heels of Trump’s open support for the cryptocurrency industry during his election campaign. Include some of his promises Support Bitcoin mining and American encryption companies.

Biden declared war on cryptocurrencies

Tyler said his decision to endorse Trump came after a series of anti-crypto actions by the Biden administration.

He accused the US government of using the banking system to fight cryptocurrency companies. According to Tyler, US banks are threatened with fines and new supervisory rules if they try to do business with cryptocurrency companies.

He also claimed to have lost multiple bank accounts due to owning crypto assets.

Tyler also took a swipe at the Securities and Exchange Commission (SEC) for failing to develop clear rules for the cryptocurrency industry. He added that this failure was “intentionally” to cripple the industry.

“The game is simple,” Tyler said. “Make it impossible to comply, then sue everyone for non-compliance.”

However, there are still some members of the cryptocurrency community Skeptical That Trump will bring meaningful change to this industry, because he did nothing to support it while he was president.

Meanwhile, the Biden campaign has reached out to senior members of the cryptocurrency industry and appears to have softened its stance against it.

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