Federal Election Commission records show that Gemini Trust Company, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, reported more than $10 million in Bitcoin transfers connected to MAGA Inc., a Super PAC supporting President Donald Trump's re-election campaign in the United States.

The disclosure, included in recently public FEC filings, has drawn attention because it represents one of the largest reported cryptocurrency-related political transfers in a U.S. election cycle. It also comes while Gemini remains involved in an unresolved legal matter with the U.S. Commodity Futures Trading Commission, the federal agency that regulates derivatives and commodity markets, including Bitcoin futures.

Gemini Reports Multiple Bitcoin Transfers

Official FEC records for Committee: MAGA INC., generated on July 23, 2026, show that Gemini Trust Company recorded several Bitcoin transfers dated June 19. The filing lists two transactions valued at roughly $5 million each, along with multiple smaller transfers, bringing the reported total to more than $10 million.

The transactions were categorized as non-contributions. According to the filing description, the Bitcoin was sent to an unknown buyer through Gemini. The values were converted into U.S. dollars in line with standard FEC reporting requirements.

The FEC has permitted political committees to accept Bitcoin contributions since issuing advisory guidance in 2014, though committees must report the fair market value at the time of receipt and convert the digital assets to U.S. dollars before spending them on campaign activities. The size of the reported transfer quickly attracted notice, adding to broader discussion about the role of digital assets in campaign finance and political fundraising.

Crypto Donations and Super PAC Funding

Super PACs may accept unlimited contributions, making them a major channel for individual and corporate spending on independent political activity. As digital assets have become more widely used, cryptocurrency companies and industry figures have increasingly appeared in policy debates over stablecoins, market structure regulation, and other blockchain-related legislation.

Gemini's reported Bitcoin transfer is among the largest public cryptocurrency-related transactions disclosed in connection with U.S. elections to date. The same filing indicates that MAGA Inc. had raised nearly $400 million by June 30, with Gemini's Bitcoin-related transfer ranking among the largest cryptocurrency donations reported by the committee.

Disclosure Comes During CFTC Legal Review

The filing comes as Gemini continues to face an unresolved legal issue involving the U.S. Commodity Futures Trading Commission. Earlier this year, Gemini and the CFTC both asked a federal court to reconsider a previous settlement related to allegations involving the exchange in an earlier investigation. The court has not yet issued a public decision.

There is no evidence that the Bitcoin transfer is connected to the legal proceedings, and the FEC filing and related Gemini note do not establish any such link.

Even so, the timing of the disclosure has brought additional public attention as U.S. lawmakers continue debating major cryptocurrency legislation that could reshape oversight of digital assets, including proposals to clarify the division of regulatory authority between the CFTC and the Securities and Exchange Commission. The filing also highlights Bitcoin's expanding presence beyond investment markets and into the political fundraising system.