Gemini co-founders Tyler and Cameron Winklevoss endorsed former President Donald Trump, stating they plan to vote for him in November due to his "pro-Bitcoin, pro-crypto, and pro-business" stance. The Winklevoss twins also announced their $1 million Bitcoin donations to Trump's campaign. Trump has promised to "end Biden’s war on crypto" and supports the use of Bitcoin and other digital assets.

The Winklevoss twins, influential figures in the crypto industry, voiced their support on social media on June 20, criticizing President Joe Biden’s administration for its antagonistic policies towards the crypto sector. This endorsement and financial support highlight significant divisions in the US political landscape regarding crypto regulation.

Other industry leaders, including Coinbase CEO Brian Armstrong, have similarly urged the crypto community to oppose anti-crypto politicians.

Tyler Winklevoss accused the Biden Administration of waging a campaign against the crypto industry, using federal agencies to suppress innovation and target crypto companies. He likened these actions to "Operation Choke Point," an initiative from the Obama Administration that he claims has been revived under Biden.

He also criticized the SEC’s enforcement-focused regulatory approach, arguing that the agency should create new rules for the industry. According to Winklevoss, the SEC’s failure to establish clear guidelines has led to arbitrary lawsuits against crypto projects. He argued that the outdated Howey Test, often used by the SEC to classify crypto tokens as securities, is impractical for modern digital assets like Ethereum. This classification would restrict the functionality of such assets and stifle innovation.