Cameron and Tyler Winklevoss, the co-founders of cryptocurrency exchange Gemini, have reportedly invested in American Bitcoin, the mining company tied to the US President Donald Trump’s family.
According to a Thursday Bloomberg report citing Hut 8 CEO Asher Genoot, the Winklevoss twins invested an unknown amount in American Bitcoin, the mining company co-founded by Donald Trump Jr., Eric Trump, and others. The company said in May that it was planning to go public through a merger with Gryphon Digital Mining.
The reported investment was the latest connection between the Gemini co-founders and the the Trump family, including a $2-million contribution to Trump’s 2024 campaign, attending inauguration events, and participating in a March White House crypto summit.
The brothers also attended a signing ceremony on July 18 for the GENIUS Act to regulate payment stablecoins, in which the president personally acknowledged their contributions.
Gemini said in June that the company filed for an initial public offering in the US through the Securities and Exchange Commission (SEC). The financial regulator, chaired by Trump pick Paul Atkins, dropped an investigation into Gemini in February over allegations of offering unregistered securities through its Earn program.
Cointelegraph reached out to a Gemini spokesperson for comment on the amount of the investment, but had not received a response at the time of publication.
Related: Tyler Winklevoss claims JPMorgan blocked Gemini over public criticism
Gemini execs reportedly trying to influence CFTC
The investment in the Trump family-tied mining company followed a Politico report suggesting that the Winklevoss brothers may have pressured the White House into reconsidering the nomination of Brian Quintenz to chair the US Commodity Futures Trading Commission (CFTC).
The Senate Agriculture Committee had been scheduled to vote on Quintenz’s nomination last week before the chamber went on recess, but it was delayed due to a request from the White House.
The Gemini co-founders previously supported Quintenz’s nomination based on social media posts after Trump announced the CFTC pick. It’s unclear when the Senate will consider his nomination, but it will likely be after members return from the chamber’s August recess.
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
