By TCI Staff | Source: CoinTelegraph
In a historic move that has sent ripples through the cryptocurrency and political circles alike, digital asset exchange Gemini transferred approximately $10 million in Bitcoin to Donald Trump’s presidential PAC. The timing couldn’t be more significant for both crypto advocates and the former president, as it coincides with ongoing legal proceedings between Gemini and the Commodity Futures Trading Commission.
The donation arrives precisely while a New York state court weighs whether to reverse CFTC regulators’ initial $5 million settlement against Coinbase partner Gemini. Industry observers suggest the Bitcoin transfer marks one of the most direct demonstrations yet of how crypto entities are leveraging digital assets for traditional political causes in unprecedented ways.
“This represents both a statement and practical support,” said sources familiar with the matter, who requested anonymity as they weren’t part of Gemini management. “The funds will back Trump’s campaign while simultaneously keeping pressure on regulators to reconsider their settlement decision.”
The crypto industry has long maintained that well-regulated digital assets should be available for all legitimate use cases, including lawful financial transactions and political contributions.
