Gemini sent $10M in Bitcoin to Trump PAC after joint motion with CFTCThe Bitcoin donation can be used to support Donald Trump as a New York court considers whether to reverse a $5 million settlement between the CFTC and Gemini.
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Cryptocurrency exchange Gemini, run by co-founders Cameron and Tyler Winklevoss, donated $10 million in Bitcoin to MAGA Inc., a super political action committee supporting former President Donald Trump. This donation was made in two separate contributions of over $5 million each on June 19 and was reported in MAGA Inc.’s July filing with the Federal Election Commission. The PAC can use these funds for independent expenditures backing Trump.
This Bitcoin contribution came shortly after the U.S. Commodity Futures Trading Commission (CFTC) filed a joint motion with Gemini in federal court to seek reversal of a $5 million settlement reached in January 2025. That settlement arose from allegations that Gemini made false or misleading statements. CFTC Chair Michael Selig claimed the agency was politically targeted by the Biden administration’s enforcement actions against the Winklevoss brothers. Senator Elizabeth Warren criticized the motion as a sign the CFTC is influenced by political and wealthy interests rather than investor protection.
The Winklevoss twins have a history of supporting Trump and related crypto initiatives. In addition to personal $1 million donations, they supported Trump’s sons’ crypto mining venture and contributed $21 million in Bitcoin to the Digital Freedom Fund PAC to back Trump’s crypto policy efforts. Both Gemini and the CFTC had not provided immediate comment on the latest $10 million donation.
The CFTC currently operates with a single commissioner, Michael Selig, who was confirmed in December 2025. The Biden administration has yet to nominate replacements, even as Congress considers the Digital Asset Market Clarity Act, legislation that would expand the CFTC’s authority over digital assets. This regulatory context adds to the significance of the ongoing legal and political developments involving Gemini, the CFTC, and the Trump PAC.