Fun

Winklevoss twins refunded for exceeding Bitcoin donation limit to Trump

News Feed - 2024-06-22 07:06:56

Amaka NwaokochaJun 22, 2024Winklevoss twins refunded for exceeding Bitcoin donation limit to TrumpIt is uncertain whether the Trump 47 Committee returned the amount in Bitcoin or converted it to its equivalent value in cash.17016 Total views32 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe billionaire Winklevoss twins Cameron and Tyler, founders of the Gemini crypto exchange, have had their donations to former United States President Donald Trump’s election campaign returned after their Bitcoin donations exceeded the maximum amount allowed under federal law.


According to a Bloomberg report, the amount exceeding the maximum donation was refunded, citing a campaign official who spoke on condition of anonymity.Donations returns for exceeding legal limit


On Thursday, June 20, the twins each announced donations totaling $2 million in Bitcoin (BTC) in posts on X, which would exceed the maximum $844,600 that the Trump campaign can legally accept per individual donation.


It is uncertain whether the Trump 47 Committee returned the amount in Bitcoin or converted it to its equivalent value in cash.


According to the report, the donated money is split among the former president’s campaign, the leadership political action committee that pays his legal bills, the Republican National Committee and 42 Republican Party state committees.


Related:  Gemini launches campaign finance initiative for pro-crypto candidates


The Trump campaign’s acceptance of the Bitcoin donation is the latest move to signal a closer relationship between the campaign and the crypto industry, a key player in the 2024 election. Investors and crypto industry players tend to rally behind candidates who promise a lighter regulatory touch.Winklevoss twins all in for Trump 2024


The Winklevoss brothers reportedly attended a June fundraiser for Trump that cost up to $300,000 per person. They have also donated roughly $5 million to the Fairshake political action committee and its affiliates, which is responsible for attack ads against anti-crypto lawmakers.


Many users of the Gemini crypto exchange spent months trying to get back funds they invested in Gemini Earn, a program earning yield on crypto assets run jointly with now-bankrupt crypto lender Genesis Global.


New York Attorney General Letitia James announced on May 20 that her office secured a $2 billion settlement with Genesis to address investor fraud claims. The settlement ordered Genesis to return funds to investors and cease operations in New York.


Gemini agreed in February to return at least $1.1 billion to customers through the Genesis bankruptcy as part of a settlement with the New York Department of Financial Services. The Securities and Exchange Commission sued Gemini and Genesis over Gemini Earn early in 2023. Genesis has since settled.


Magazine:Crypto voters are already disrupting the 2024 election — and it’s set to continue# Bitcoin# Cryptocurrencies# Law# Government# United States# Cryptocurrency Exchange# Winklevoss Twins# Donald TrumpAdd reaction

News Feed

Prashant Jha4 hours agoMultichain inside job? And SOL surges 80% in a month: Finance RedefinedThe exploited Multichain bridge briefly opened on Nov. 1, and a trader managed to use this opportunity to buy debugged assets
Hut 8 begins construction on 63MW crypto mining site in Texas
Tristan Greene5 hours agoHut 8 begins construction on 63MW crypto mining site in TexasThe new site will purportedly cost 40% less than similar locations.951 Total views7 Total sharesListen to article 0:00NewsOwn this pie
First-Time Bitcoin Buyers ‘Doubled’ in Square’s Q3 Report
Square processed $148 million in bitcoin sales in the third quarter of 2019. The payments company, founded by Twitter co-founder Jack Dorsey, released its earnings results on Wednes
William Suberg7 hours agoBitcoin exchanges now hold the same BTC supply share as in late 2017BTC supply dynamics are pointing firmly in Bitcoin bulls’ favor, as an analyst says that “true price discovery” may come
Former Fed Chair Alan Greenspan: Crypto Is Too Dependent on ‘Greater Fool Theory’ to Be a Desirable Investment
Former Fed Chair Alan Greenspan: Crypto Is Too Dependent on "Greater Fool Theory" to Be a Desirable Investment Former Federal Reserve Chairman Alan Greenspan says crypto is “
State-Owned Swiss Bank Postfinance to Offer Clients Direct Access to Crypto Market
State-Owned Swiss Bank Postfinance to Offer Clients Direct Access to Crypto Market Swiss post office’s banking unit, the state-owned Postfinance, is reportedly preparing to
NY Regulator Proposes New Coin Listing Requirements
NY Regulator Proposes New Coin Listing Requirements The New York State Department of Financial Services, the Bitlicense regulator, has published a proposed framework for licensed
Turner Wright8 hours agoCrypto users react to death of Shiba Inu behind viral memesThe 12-year-old dog had appeared in memes with Dogecoin’s own inspiration, the Shiba Inu named Kabosu, including “Swole Doge vs. Chee
Kate Winslet to Star in Cryptocurrency Movie About Onecoin Ponzi Scheme
Kate Winslet to Star in Cryptocurrency Movie About Onecoin Ponzi SchemeA movie is being made about Onecoin’s cryptocurrency Ponzi scheme starring Oscar winner Kate Winslet. Th
Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain
Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain Two Chinese state-run media outlets have published a brief news item
David Attlee53 minutes agoBrazil: Senate Commission will analyze the AI bill in 120 daysThe bill, aimed at regulating the artificial intelligence in the country, was introduced to the Senate in December 2022.298 Total vi
Ethereum Foundation Makes It Clear The Merge Will Not Improve Fees and Throughput
Ethereum Foundation Makes It Clear The Merge Will Not Improve Fees and Throughput On Wednesday the Ethereum Foundation clarified that The Merge will not reduce onchain fees as the