Winklevoss-Trump Alliance Deepens With Mega Bitcoin Mining Investment
Cameron and Tyler Winklevoss, the co-founders of cryptocurrency exchange Gemini, have invested in American Bitcoin Corp., a mining company co-founded by Donald Trump Jr. and Eric Trump, further strengthening their business ties with the Trump family.
The investment, as part of a $220 million private placement, was made in Bitcoin, showing the twins’ commitment to encouraging the adoption of cryptocurrency.
A $220M Bitcoin Bet on America’s Mining Future
American Bitcoin, established in 2025 from Hut 8’s United States-based mining operations, focuses on both mining and holding Bitcoin as a long-term reserve.
The company is set to go public through a merger with Nasdaq-listed Gryphon Digital Mining, with shareholder voting ongoing and the deal scheduled to close by early September 2025, pending approval.
Hut 8 will retain an 80% stake in the merged entity, while the Trump brothers hold a 20% stake, potentially valuing Eric Trump’s share at up to $367 million upon listing.
The Winklevoss twins’ investment shows their strategy to strengthen United States crypto infrastructure. While the exact amount of their contribution remains undisclosed, it is proof of confidence in American Bitcoin’s dual-purpose—mining and holding—model, putting them in a strategic position as a contender to lead the mining in the United States.
At the same time, Gemini is pursuing its own public listing, having filed for an IPO with the SEC in June 2025, following the agency’s decision in February 2025 to drop an investigation into Gemini’s Earn program, a move seen as a sign of a more crypto-friendly regulatory environment.
Trump Family and Winklevoss: A Crypto-Political Partnership
The investment builds on the Winklevoss twins’ growing relationship with the Trump family, combining business ventures with political engagement.
The twins gifted $2 million of Bitcoin to Donald Trump’s 2024 presidential campaign, though part of the donations was refunded due to exceeding federal donation limits of $844,600 per individual.
The twins also visited some of the high-profile events, such as Trump’s inauguration, a White House crypto summit in March 2025, and the July 18, 2025 signing into law of the GENIUS Act, which regulates payment stablecoins.
At the signing, President Trump publicly acknowledged the twins’ contributions, noting their impact in both crypto and political sectors.
Speculation has surfaced regarding the twins’ influence on crypto-related policy, specifically concerning a reported delay in Brian Quintenz’s nomination to chair the Commodity Futures Trading Commission (CFTC).
While it is reported by some that the twins may have pressed the White House to postpone the Senate vote, there is no direct evidence to support this claim, and neither the White House nor the twins have commented.
The Winklevoss twins had previously expressed support for Quintenz on social media, and the nomination is expected to return to the Senate’s agenda later in 2025.
Trump-Backed Bitcoin Venture Faces Market and Regulatory Tests
The partnership between the Winklevoss twins and the Trump family shows the growing intersection of cryptocurrency and politics, with the potential to influence the industry.
American Bitcoin’s Nasdaq listing could improve its visibility and promote innovation as well as competition in United States crypto mining.
However, the Trump family’s involvement may bring regulatory scrutiny, especially on issues of compliance and transparency due to their political connections. That could trigger controversy over conflicts of interest while simultaneously sponsoring cryptocurrencies through high-profile associations.
Industry analysts see the investment as part of a bigger trend of institutional capital flowing into crypto infrastructure, showing confidence in Bitcoin’s long-term value.
