While the Winklevoss twins each donated $1 million in Bitcoin (BTC) to Donald Trump this week for his presidential campaign, the White House candidate had to repay part of that donation. For what ?
Donald Trump returns part of donations from Cameron and Tyler Winklevoss
This week, Tyler and Cameron Winklevoss became the first crypto CEOs to publicly side with Donald Trump through a financial donation. Indeed, the twins at the head of the Gemini cryptocurrency exchange each donated the equivalent of $1 million in Bitcoin (BTC).
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On this occasion, Tyler Winklevoss also published a long text against X, with regard to Joe Biden and his policy towards the crypto ecosystem throughout his mandate.
However, Bloomberg reported Friday evening that the Trump 47 committee, responsible for receiving campaign donations from the candidate for the White House, had repaid part of this donation. And for good reason, it turns out that the amount involved exceeded the limit imposed for financing a political candidate in the United States.
Thus, the former president is unable to legally accept more than $844,600 per donor and so the overpayment was refunded to each of the Winklevoss twins. While these donations were made in Bitcoin, at a rate of 15.47 BTC each, the Trump 47 committee did not specify whether this reimbursement was made on-chain or in fiat currency.
At the same time, the Gemini exchange revealed yesterday that it now serves as an intermediary for candidates wishing to collect donations in cryptocurrencieslike what Coinbase is already doing for several campaigns:
We now facilitate crypto contributions for pro-crypto candidates. Any US campaign that is interested in accepting donations in crypto can work with us by emailing → [email protected]
We're proud to empower pro-crypto policymakers in 2024 pic.twitter.com/LZybaP56m4
— Gemini (@Gemini) June 20, 2024
The irony is that Joe Biden himself may be in the process of accepting such forms of donations.
👉 Also in the news — Bitcoin: Microstrategy buys $786 million worth of BTC
At the time of writing, BTC was trading at a price of $64,400 for a capitalization of $1.27 trillion.
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Source: Bloomberg
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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