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Gemini sends $10 million in Bitcoin to pro-Trump PAC as CFTC settlement reversal awaits

Gemini sends $10 million in Bitcoin to pro-Trump PAC as CFTC settlement reversal awaits

Federal campaign finance records show Cameron and Tyler Winklevoss each sent more than $5 million in Bitcoin to MAGA Inc. on June 19 as scrutiny of the CFTC’s reversal bid continues.

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Fact Check
The primary FEC filing (MAGA Inc. Schedule A) directly confirms Cameron Winklevoss ($5,006,604.47) and Tyler Winklevoss ($5,011,860.44) each contributed more than $5 million via Bitcoin liquidations through Gemini Trust Company, totaling ~$10 million, dated June 2026. Multiple independent outlets (Truthout/The Lever, Bitcoin Magazine, Cointelegraph) corroborate the June 19 date, the over-$5M-each amount, and the temporal/contextual link to the CFTC's May 2026 joint motion to vacate Gemini's January 2025 settlement. Every element of the claim is supported by the primary source and independent corroboration.
Summary

Cameron and Tyler Winklevoss, the co-founders of cryptocurrency exchange Gemini, transferred $10 million in Bitcoin to MAGA Inc., a super PAC backing President Donald Trump, according to a July Federal Election Commission filing. The filing lists two June 19 BTC contributions worth more than $5 million each. The disclosure came roughly three weeks after Gemini and the U.S. Commodity Futures Trading Commission jointly asked a federal court to undo parts of a January 2025 settlement over allegations that Gemini made false or misleading statements to the regulator. A CFTC spokesperson said in June that the $5 million penalty already paid would not be returned even if the court grants the motion. CFTC Chair Michael Selig has described the original case as politically motivated, while Senator Elizabeth Warren has said the reversal effort raises concerns about political interference and weakened market oversight. The donations add to a broader pattern of political and policy spending by the Winklevoss brothers since Trump returned to office, including earlier support for Trump’s campaign, the Digital Freedom Fund PAC and crypto-aligned initiatives, as Congress weighs giving the CFTC broader authority over digital asset markets.

Terms & Concepts
  • super PAC: A U.S. political committee that can raise unlimited funds for independent spending supporting or opposing candidates, but cannot coordinate directly with campaigns.
  • consent order: A court-approved settlement that resolves a regulatory case and can impose penalties or ongoing restrictions without a full trial.
  • Digital Asset Market Clarity Act: Proposed U.S. legislation that would give the CFTC broad authority to regulate digital asset markets.