As a long-term crypto investor, I’ve seen my fair share of regulatory challenges in this industry. The Winklevoss twins’ recent actions towards former President Trump have caught my attention, and as someone who follows their thought leadership closely, I can’t help but share my perspective.
The prosperous Winklevoss twins, identifiable billionaires, have separately contributed one million dollars’ worth of Bitcoin each to former President Donald Trump, following allegations that the Securities and Exchange Commission (SEC) is wielding its power against cryptocurrencies.
As a researcher, I’ve discovered that the co-founders of Gemini cryptocurrency exchange, Cameron and Tyler Winklevoss, have generously donated approximately 30.94 Bitcoins, equivalent to around $2 million at current values, to the campaign of former U.S. President Donald Trump. He is expressing intentions to seek re-election in 2024.
In a recent declaration, Tyler Winklevoss expressed his intent to support Donald Trump in the upcoming November election. This choice was influenced by the perceived hostile stance of the Biden Administration towards cryptocurrencies.
For several years, the Biden Administration has publicly expressed its hostility towards cryptocurrencies. It has mobilized various government entities to intimidate, bother, and legally challenge the honest players within this sector with the ultimate goal of dismantling it.
Tyler Winklevoss
I observe that the Gemini co-founder asserts that the Biden Administration’s actions represent an unprecedented misuse of power for purely political purposes, resulting in significant harm to innovation, the American taxpayer, and the economy.
The Winklevoss twins, specifically Tyler, have openly expressed their dissatisfaction with the U.S. Securities and Exchange Commission (SEC). He stated that the SEC has yet to establish any regulations specifically for the crypto industry, making it difficult for market participants to comply with the regulatory framework for this emerging asset class.
Cameron Winklevoss shared the same views as his brother and expressed approval for Trump’s stance. He believes that Trump, if back in office, would bring an end to the Biden Administration’s hostility towards cryptocurrencies.
Around the beginning of 2023, the Securities and Exchange Commission (SEC) accused Genesis Global and Gemini of selling unregistered securities to individual investors through the Gemini Earn program. This program came to an end after Genesis Global filed for bankruptcy in November 2022 due to the crypto market crash.
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2024-06-21 10:06