Gemini Sends $10M in Bitcoin to Pro-Trump PAC Amid CFTC Settlement Review

Crypto exchange Gemini has contributed $10 million in Bitcoin to the MAGA Inc. Super PAC, a group supporting President Donald Trump, according to a July filing with the Federal Election Commission. The donation, made in two separate transfers of over $5 million each on June 19, comes as a New York court weighs whether to overturn a $5 million settlement between Gemini and the Commodity Futures Trading Commission.

The CFTC and Gemini filed a joint motion in May seeking to reverse the January 2025 settlement, which stemmed from allegations that Gemini made false or misleading statements. CFTC Chair Michael Selig has argued the case reflected political targeting of Gemini founders Cameron and Tyler Winklevoss under the previous administration.

Pattern of Political Giving

The Winklevoss twins have a long history of backing Trump financially, including $1 million each toward his 2024 campaign and a separate $21 million Bitcoin contribution to the Digital Freedom Fund PAC.

Warren Raises Concerns

Senator Elizabeth Warren has criticized the CFTC’s handling of the case, warning of political influence over the agency. Selig remains the CFTC’s only commissioner, with no new nominations announced as Congress considers the CLARITY Act.