Gemini Trust Company made two Bitcoin contributions totaling over $10 million to the MAGA Inc. Super PAC on June 19, marking one of the largest cryptocurrency donations recorded by the Federal Election Commission. This funding surfaced quietly in a July FEC filing but follows a notable regulatory development involving Gemini and the US Commodity Futures Trading Commission.
About three weeks before the donation, Gemini and the CFTC jointly moved to undo a $5 million settlement agreed upon in January 2025. CFTC Chair Michael Selig argued that the earlier enforcement actions against Gemini were politically driven during the Biden administration, a claim highlighting the tense overlap between crypto regulation and politics. As of late July 2026, Selig remains the sole commissioner at the CFTC, with no new appointees announced by the White House.
Significance of the Bitcoin Donation
The contributions were made exclusively in Bitcoin, a less common but legally accepted form of campaign funding for super PACs. MAGA Inc. reported receiving over $397 million in total contributions by June 30, positioning Gemini's donation as a substantial yet not dominant portion of the campaign's war chest. Still, the Bitcoin format carries symbolic weight, emphasizing Gemini’s vested interest in the regulatory environment shaping digital assets.
Previously, Gemini founders Cameron and Tyler Winklevoss donated $1 million each directly to Donald Trump's 2024 presidential campaign, further cementing their political engagement. The reported Bitcoin transaction creates a transparent link between a major crypto exchange and a high-profile political operation, sparking renewed discussions about the role of digital currencies in political financing.
