Recent positive commentary on the cryptocurrency space by former President Donald Trump could provide a boost for his efforts in the 2024 presidential election.
What Happened: Trump received $2 million in Bitcoin BTC/USD donations from Tyler and Cameron Winklevoss, the co-founders of cryptocurrency company Gemini, which comes as he has shown support for the cryptocurrency sector.
"I just donated $1 million in bitcoin (15.47 BTC) to Donald Trump and will be voting for him in November," Tyler Winklevoss tweeted Thursday.
Winklevoss laid out several reasons why he is supporting Trump and not President Joe Biden.
"Over the past few years, the Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and sue the good actors in our industry in an effort to destroy it."
Winklevoss said the Biden administration has abused its power for political gain at the expense of the American taxpayer.
"There is nothing the Biden Administration can do or say at this point to pretend otherwise."
Winklevoss said the Biden administration has weaponized the banking system against cryptocurrency companies and the Securities and Exchange Commission (SEC) against cryptocurrency companies.
"I have seen and experienced this first-hand many times."
Winklevoss accused the Biden administration of attempting to tear down everything that he helped create with Gemini.
"I am not going to stand by idly and let them. I'm going to continue fighting for what I know to be so right. President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice."
Tyler's brother and Gemini co-founder Cameron Winklevoss also donated $1 million in Bitcoin to Trump, sharing the news in a much shorter tweet.
"President Trump is: Pro-Bitcoin Pro-Crypto Pro-Business and he will put an end to the Biden Administration's war on crypto. Onward!" Winklevoss tweeted, saying he will vote for Trump in the 2024 election.
Why It's Important: The support from the Winklevoss twins comes as Trump has shared his positive commentary on the cryptocurrency market in several recent speeches.
Winklevoss said that anyone who says Trump isn't the pro-Bitcoin and pro-crypto candidate is "severely misinformed."
"It's time for the crypto army to send a message to Washington," Winklevoss said.
Former Trump supporter Anthony Scaramucci shared Winklevoss's tweet and said that SEC Chair Gary Gensler should resign immediately. Scaramucci said Biden should work with Congress to pass blockchain legislation.
"Don't risk losing this election for Gensler and Warren's nonsense," Scaramucci said of Gensler and Sen. Elizabeth Warren.
It was recently reported that Biden is holding a crypto roundtable in July with members of Congress, his administration and business leaders that include Mark Cuban. While Biden might be warming up to the crypto sector after Trump's recent positive comments, some like the Winklevoss twins may see the move as being too little, too late.
If cryptocurrency becomes a key topic on the minds of voters in the 2024 election, Trump's about-face on cryptocurrency, which he once criticized heavily, could mark a major turning point.
Photo by Rena Schild on Shutterstock
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