Crypto entrepreneurs Tyler and Cameron Winklevoss donated $10 million in Bitcoin to the pro-Trump super PAC MAGA Inc. The donation on June 19 came just weeks after their company, Gemini, and the CFTC jointly moved to reverse a $5 million penalty against the firm. The timing has drawn criticism from Senator Elizabeth Warren, who cited 'political pressures' at the agency, which is currently run by a single commissioner.
Winklevoss Bitcoin donation
- ▪In 2024, the Winklevoss twins donated 30.94 Bitcoin, then valued at over $2 million, to Donald Trump's campaign
- ▪Tyler and Cameron Winklevoss donated over $10 million in Bitcoin to the pro-Trump super PAC, MAGA Inc.
- ▪As of June 30, the MAGA Inc. super PAC reported receiving more than $397 million in total contributions
- ▪The donation was made on June 19, 2026 via two separate contributions of over $5 million each from the Gemini Trust Company
CFTC settlement reversal
- ▪CFTC Chair Michael Selig claimed the agency under the Biden administration had "politically targeted" the Winklevosses through enforcement actions
- ▪The settlement, from January 2025, involved a $5 million penalty against Gemini for allegedly making false or misleading statements
- ▪A CFTC spokesperson stated the $5 million penalty will not be returned to Gemini even if the court grants the reversal
- ▪The donation occurred about three weeks after the Commodity Futures Trading Commission (CFTC) and Gemini filed a joint motion to reverse a settlement
Political influence concerns
- ▪Senator Elizabeth Warren called the joint motion a "concerning sign of a CFTC beholden to political pressures and interests of the wealthy insiders."
- ▪Tyler Winklevoss has previously stated that Donald Trump is the "pro-Bitcoin, pro-crypto, and pro-business choice."
CFTC commissioner vacancies
- ▪The Commodity Futures Trading Commission (CFTC), normally a five-member body, is currently operating with only one commissioner, Chair Michael Selig
- ▪Michael Selig, a Republican, was confirmed by the US Senate in December 2025 and remains the sole CFTC commissioner
- ▪Lawmakers are pressing President Trump to announce additional nominations for the financial regulator amid consideration of new crypto legislation
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