Cameron and Tyler Winklevoss, the billionaire co-founders of cryptocurrency exchange Gemini, donated more than $10 million in Bitcoin proceeds to MAGA Inc., President Donald Trump's leading super PAC, according to a Federal Election Commission filing.

The contributions were made weeks after Gemini and the U.S. Commodity Futures Trading Commission jointly asked a federal judge to vacate a previous settlement, renewing attention on the relationship between cryptocurrency companies and policymakers in Washington. The crypto industry emerged as one of the largest corporate political spenders of the 2024 election cycle, with super PACs such as Fairshake alone raising more than $200 million to support pro-cryptocurrency candidates across both parties.

Donation Details

The FEC filing shows that each brother liquidated 79.35 Bitcoin and contributed the proceeds to MAGA Inc. Cameron Winklevoss donated $5,006,604, while Tyler Winklevoss donated $5,011,860.

The donations came 23 days after the CFTC and Gemini jointly asked a federal judge in the Southern District of New York to vacate a $5 million settlement reached earlier this year.

That settlement resolved a CFTC lawsuit alleging that Gemini made misleading statements about its Bitcoin futures product. It was reached the day after Trump's January 2025 inauguration and averted a jury trial.

CFTC Chair Michael Selig has criticized the case, saying it relied on what he described as an unreliable whistleblower account and should not have been brought. Gemini, however, will not receive a refund of the civil penalty it has already paid.

Selig remains the CFTC's only sitting commissioner, a status that gives his comments added significance while the agency operates with a limited leadership structure. The joint motion to vacate aligns with the Trump administration's broader push to scale back crypto enforcement actions and reorient financial regulators toward establishing clearer rules for digital assets.

The Winklevoss Brothers' Political Activity

The Winklevoss twins have become among the most prominent cryptocurrency executives active in Republican politics.

During the 2024 presidential campaign, each brother contributed $1 million to Trump's campaign. They also donated $21 million worth of Bitcoin to the Digital Freedom Fund PAC, which supported candidates aligned with cryptocurrency policy priorities.

Their latest contribution places them among the largest individual donors to MAGA Inc., which has raised more than $400 million ahead of the 2026 midterm elections.

Scrutiny Over Timing

Critics have questioned the timing of the donation, which came three weeks after the CFTC moved to drop its case against Gemini. Gemini separately agreed in early 2025 to pay $21 million to settle Securities and Exchange Commission charges that its Earn lending program involved the unregistered offer and sale of securities, adding to the regulatory record surrounding the company.

Several states, including Maryland, Michigan, and North Carolina, have restricted cryptocurrency political contributions because of transparency concerns.

Broader Context

The Winklevoss donation underscores the increasingly close relationship between the cryptocurrency industry and U.S. politics.

As Congress considers major cryptocurrency legislation — including proposals to clarify the division of regulatory authority between the CFTC and SEC over digital assets and to establish a federal framework for stablecoins — large political contributions from industry leaders are likely to remain under scrutiny from regulators, lawmakers, and campaign finance watchdogs.

The timing of the donation, shortly after developments in Gemini's regulatory case, has added to questions about the role of money, influence, and policy in the evolving relationship between crypto companies and Washington.