Cameron and Tyler Winklevoss, co-founders of cryptocurrency exchange Gemini, have donated $1 million each in bitcoin to former US President and presidential candidate Donald Trump. The twins aim to support Trump's pro-bitcoin and pro-business stance, which they believe will end the Biden administration's alleged "war on crypto."

Tyler Winklevoss criticized the Biden administration for weaponizing government agencies and the US Securities and Exchange Commission (SEC) against the crypto industry. He accused the administration of pressuring banks to avoid crypto companies, describing this as the "weaponization of the banking system against crypto companies and their principals." Cameron Winklevoss echoed these sentiments, declaring Trump as the pro-bitcoin, pro-crypto, and pro-business choice.

Trump has promised to foster crypto innovation, stop Biden's "crusade to crush crypto," support the right to self-custody, and commute Ross Ulbricht's sentence to time served. His presidential campaign recently began accepting crypto donations. However, Bloomberg reported that the Winklevoss twins' bitcoin donations were refunded due to exceeding the maximum amount allowed under federal law.

The donation highlights the ongoing debate between crypto enthusiasts and regulators. The Winklevoss twins' support for Trump underscores their belief in the need for a pro-crypto and pro-business administration to end the alleged "war on crypto" and promote innovation in the industry.