Billionaire crypto entrepreneurs Cameron Winklevoss and Tyler Winklevoss are once again making headlines — and this time, it’s for a move that ties them even closer to the Trump family.
According to a Bloomberg report citing Hut 8 CEO Asher Genoot, the Gemini co-founders have poured an undisclosed sum into American Bitcoin — a mining venture co-founded by Donald Trump Jr., Eric Trump, and other partners. While the exact size of their investment remains a mystery, the company has already announced plans to go public through a merger with Gryphon Digital Mining.
This latest investment marks yet another chapter in the Winklevoss-Trump connection. The brothers have previously made a $2 million donation to Donald Trump’s 2024 campaign, attended his inauguration events, and participated in a high-profile White House crypto summit earlier this year. In July, they even stood alongside the president during the signing of the GENIUS Act, a landmark bill aimed at regulating payment stablecoins — an event where Trump personally acknowledged their contributions.
Their business moves are just as ambitious. In June, Gemini filed for a U.S. initial public offering (IPO) with the Securities and Exchange Commission (SEC). Notably, the SEC — now chaired by Trump appointee Paul Atkins — dropped a probe into Gemini in February over allegations tied to its Earn program.
But politics and crypto may be intersecting even more. A Politico report suggested the Winklevoss twins might have played a behind-the-scenes role in urging the White House to delay the nomination of Brian Quintenz as chair of the Commodity Futures Trading Commission (CFTC). The Senate Agriculture Committee was set to vote on Quintenz last week, but the process was abruptly paused — reportedly at the administration’s request.
While supporters frame these actions as the twins’ way of shaping a pro-crypto regulatory environment, critics question whether such influence blurs the lines between political power and financial interest. For now, the CFTC nomination remains in limbo until after the Senate’s August recess.
As for the exact size of the Winklevoss investment in American Bitcoin, Gemini has so far declined to comment — leaving the crypto world guessing just how deep this latest bet runs.
