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Cameron and Tyler Winklevoss, crypto billionaires, <a href="https://news.todayq.com/trump-gets-2m-bitcoin-boost-from-winklevoss-twins-for-2024-bid/" rel="noopener noreferrer nofollow">Bitcoin donations</a> to Donald Trump’s presidential campaign got partially refunded. This happened due to exceeding federal contribution limits. The twins each donated $1 million in Bitcoin to Trump, surpassing the legal maximum of $844,600 per person. Trump goes for crypto 
According to a campaign official, the exceeded amount was returned to the donors. However, it remains unclear whether the refund was issued in crypto or its cash equivalent. The contributions are allocated among Trump’s campaign, his leadership political action committee (PAC), the Republican National Committee (RNC), and 42 GOP state party committees.
The Winklevosses’ donations highlight the growing alliance between Trump and the crypto sector, which views Trump as a champion for the industry’s interests against what it perceives as the current administration’s regulatory overreach. “President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice,” Tyler Winklevoss stated in a post on X, formerly known as Twitter.
The twins’ Gemini exchange has faced significant challenges, including user disputes over funds invested in Gemini Earn, a yield-earning program operated in conjunction with the now-bankrupt Genesis. New York Attorney General Letitia James recently announced a $50 million recovery for defrauded Gemini users.
While Gemini agreed to return at least $1.1 billion through the Genesis bankruptcy settlement with the New York Department of Financial Services. Additionally, the Securities and Exchange Commission (SEC) sued Gemini and Genesis over the program last year, with Genesis settling the charges. What’s behind it? 
On the campaign trail, Trump has increasingly embraced the cryptocurrency industry, recognizing its potential to attract new voter demographics. He has accepted crypto donations and discussed cryptocurrency policy with industry leaders, including Elon Musk.&nbsp;
Earlier this month, Trump met with Bitcoin miners at his Mar-a-Lago resort in Florida and pledged to commute the sentence of Ross Ulbricht, founder of the Silk Road online marketplace, during an address to the Libertarian Party convention.
Trump addressed the Winklevoss donation on the All-In podcast. It was hosted by venture capitalists David Sacks, Chamath Palihapitiya, Jason Calacanis, and entrepreneur David Friedberg. He described his first meeting with the Winklevoss twins at a fundraiser in San Francisco, hosted by Sacks and Palihapitiya, as positive, calling them “very nice.”

Trump campaign refunds excess Bitcoin donations from Winklevoss twins

Todayq News

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