Gemini co-founders Cameron and Tyler Winklevoss have pledged a significant sum of Bitcoin towards the reelection campaign of former U.S. President Donald Trump. In a June 20 announcement on X, each twin declared their intent to contribute approximately $1 million in Bitcoin, totaling 15.47 BTC per person at the time of their commitment.

Tyler Winklevoss emphasized Trump's stance as being pro-Bitcoin, pro-crypto, and supportive of business interests, contrasting this with what he described as President Joe Biden's adversarial approach towards the cryptocurrency industry during his tenure. According to Tyler, Biden's administration has actively waged war on crypto, citing regulatory actions by the U.S. Securities and Exchange Commission (SEC) and the resurgence of Operation Choke Point, which they allege unfairly targets crypto companies.

In their statement, the Winklevoss twins did not address regulatory activities during Trump's presidency from 2017 to 2021 but focused instead on their belief that supporting Trump is crucial for the crypto community to assert its political influence and combat perceived anti-crypto policies.

The announcement coincided with reports of the twins' attendance at a high-profile fundraiser for Trump, where tickets reportedly cost up to $300,000 per person. Additionally, they have previously contributed approximately $5 million to the Fairshake political action committee, which supports candidates aligned with their interests and has launched campaigns against lawmakers critical of crypto.

Despite Trump's legal challenges, including a pending sentencing hearing in New York related to 34 felony counts, the former president remains a leading candidate for the Republican nomination for the upcoming election. Recent months have seen Trump embrace crypto-related initiatives, such as hosting events for NFT holders and signaling openness to accepting crypto donations for his campaign.

While the Winklevoss endorsement received support within the crypto community, some individuals expressed skepticism about Trump's evolving stance on crypto, recalling his previous characterization of Bitcoin as a scam in 2021. The upcoming election dynamics also highlight the presence of other candidates, such as Robert F. Kennedy Jr., who advocate for crypto-friendly policies, offering voters additional options in the 2024 presidential race.