Bloomberg: Gemini's political donations shrank by nearly $5 million due to Bitcoin's decline.

This article is machine translated
Show original

On January 31, Bloomberg reported that a political fundraising group launched by cryptocurrency billionaire brothers Cameron Winklevoss and Tyler Winklevoss raised more than $22 million in the last five months of 2025, but these Bitcoin-based donations may shrink significantly due to market volatility.

According to a recent filing with the Federal Election Commission (FEC), the "twins" who run the cryptocurrency exchange Gemini transferred 188.4547 Bitcoins to their super PAC, the Digital Freedom Fund, in August. At the time, Bitcoin was worth approximately $114,000, but the super PAC did not immediately convert it into cash. The filing shows that the committee still held these Bitcoins as of December 31. By then, the price of Bitcoin had fallen by about 23%, to below $88,000, resulting in a market value loss of nearly $5 million from this donation.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
59
Add to Favorites
19
Comments