Categories: U.S. Regulation

Trump Campaign Refunds Winklevoss Twins After Bitcoin Donations Exceed Limit

The billionaire Winklevoss twins, founders of cryptocy company Gemini, were refunded after their bitcoin donations to Donald Trump’s presidential campaign exceeded the maximum amount allowed under federal law, Bloomberg News reported on Friday.
Tyler and Cameron Winklevoss, whose crypto firm in February entered settlement agreements with U.S. and New York state financial regulators after accusations of wrongdoing, each announced donations of $1 million in bitcoin in posts on social media site X on Thursday.
Their donations exceeded the maximum $844,600 that the Trump committee can legally accept per person, according to the report, opens new tab. The portion above that limit was refunded to the donors, the report said, citing a campaign official.
A spokesperson for the Trump campaign did not immediately respond to Reuters’ request for a comment.
The donations came after Trump presented himself as a champion for crypto, including at a San Francisco fundraiser this month with tech executives during which he slammed Democrats’ attempts to regulate the crypto sector.
Terron Gold

Share
Published by
Terron Gold
Tags: Bitcoincampaign donationsTrumpWinklevoss
2 years ago

Recent Posts

Senator Murphy Alleges White House Insiders Profited From Iran Strike Bets, Pushes to Ban Prediction Markets on Government Actions

U.S. Senator Chris Murphy (D-Conn.) is calling for legislation to ban prediction markets that allow traders to bet…

2 days ago

IRS Proposes Electronic-Only Delivery For Crypto Tax Forms Under New Reporting Rules

The U.S. Internal Revenue Service (IRS) has proposed a new rule that would allow cryptocy brokers to deliver…

2 days ago

Crypto-Friendly Fintech Revolut Files For U.S. Banking License to Expand Crypto and Payments Services

Global fintech powerhouse Revolut has filed an application for a U.S. banking license, a move that would allow…

2 days ago

Suspect Arrested on Caribbean Island of Saint Martin in $46M Seized Crypto Theft Case

A man accused of stealing tens of millions of dollars in cryptocy from U.S. government…

2 days ago

NYSE Parent ICE Invests in Crypto Exchange OKX at $25B Valuation Amid Tokenized Stocks Push

Intercontinental Exchange (ICE) — the parent company of the New York Stock Exchange — has taken a strategic…

2 days ago

AI Models Favor Bitcoin as a Store of Value, Stablecoins for Payments, BPI Study Finds

A new study from the Bitcoin Policy Institute (BPI) found that leading artificial intelligence models overwhelmingly favor Bitcoin…

2 days ago