Cameron and Tyler Winklevoss, the billionaire twins behind the Gemini cryptocurrency exchange, have reportedly made a private investment in American Bitcoin, a mining firm co-founded by Donald Trump Jr., Eric Trump, and other partners.
The size of the investment remains undisclosed, but the move further deepens the twins’ business and political ties with the Trump family.
According to Bloomberg, Hut 8 CEO Asher Genoot confirmed the twins’ involvement. American Bitcoin announced earlier this year that it intends to go public via a merger with Gryphon Digital Mining. The investment comes on top of previous connections — including a $2 million donation to Donald Trump’s 2024 presidential campaign, attending inauguration events, and participating in a White House crypto summit this March.
The brothers were also present at the July 18 signing of the GENIUS Act, which aims to regulate payment stablecoins and drew personal acknowledgment from the president.
Gemini itself has been making moves in the U.S. market. In June, the exchange filed for an IPO with the SEC, whose chair, Paul Atkins, was appointed by President Trump. Earlier this year, the regulator dropped a probe into Gemini’s Earn program, which had faced allegations of offering unregistered securities.
The latest investment comes amid reports from Politico that the Winklevoss twins may have influenced the White House’s stance on the nomination of Brian Quintenz for chair of the Commodity Futures Trading Commission. The Senate Agriculture Committee postponed a vote on Quintenz’s confirmation before the August recess following a request from the White House. While the twins had previously expressed support for the nomination, it’s unclear when — or if — the Senate will revisit it after the break.
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