based on materials from the site - By Coinpaper.com
The Winklevoss twins, Cameron and Tyler, are clearly strengthening their ties with Donald Trump's inner circle, taking a number of strategic steps that encompass both politics and business. Their investments in American Bitcoin followed a $2 million donation to Trump's 2024 campaign, participation in White House cryptocurrency summits, and public support for Trump-era cryptocurrency laws such as the GENIUS Act. In June, Gemini also filed for an IPO after the Securities and Exchange Commission (SEC), now headed by Trump's appointee Paul Atkins, halted a previously initiated investigation into the company. Additionally, reports suggest that the twins may have influenced the delay in the nomination of Brian Quintenz as head of the Commodity Futures Trading Commission (CFTC). Meanwhile, Donald Trump nominated Stephen Miran for an interim position at the Federal Reserve System.
It is reported that Cameron and Tyler Winklevoss, billionaire co-founders of the cryptocurrency exchange Gemini, invested in American Bitcoin. This mining company is directly associated with the Trump family.
The investments were revealed in a Bloomberg report citing Hut 8 CEO Esher Jenuta, who confirmed the twins' financial involvement in the mining company founded by Donald Trump Jr., Eric Trump, and other partners. While the exact amount of the investment is unknown, this move strengthens the growing alliance between the Winklevoss brothers and Trump's close associates.
American Bitcoin plans to go public through a merger with Gryphon Digital Mining, announced earlier this year. This latest event also complements a series of interactions between the Winklevoss twins and the Trump family.
Recently, the brothers attended the signing of the GENIUS Act on July 18. This law is specifically aimed at regulating payment stablecoins. During the signing, President Trump personally expressed his gratitude to them for their efforts and support. Their company, Gemini, also made headlines in June after filing for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). In recent months, the regulatory environment has seemed more favorable for the company. In February, the SEC, now led by Trump's appointee Paul Atkins, closed a previous investigation into Gemini regarding the alleged offering of unregistered securities through the Earn program.
Additionally, Politico reports suggest that the Winklevoss twins may have influenced the delay in the nomination of Brian Quintenz as chairman of the Commodity Futures Trading Commission (CFTC). Although the twins had previously openly supported Quintenz, sources indicate that they may have recently lobbied for his appointment. The vote on his nomination in the Senate Agriculture Committee has been postponed until the August recess, leaving the question open.
Meanwhile, U.S. President Donald Trump recently announced his plans to nominate Stephen Miran, the current chairman of the Council of Economic Advisers, to temporarily fill the seat of outgoing Federal Reserve Board member Adriana Kugler. Kugler's resignation takes effect on Friday, opening an important vacancy on the Fed's board.
Trump's choice could affect the direction of U.S. monetary policy, including decisions on federal interest rates. Miran will serve until January 31, 2026, while the administration searches for a permanent candidate.
Trump reportedly considered a short list of candidates, including economic advisor Kevin Hassett, former Fed governor Kevin Warsh, and two others, before settling on Miran. However, the nomination still needs to be approved by the Senate. No explanations were given for Kugler's sudden resignation, which adds to the uncertainty regarding the future leadership and decision-making of the Fed, especially given that inflation and interest rates remain key concerns in the U.S. economy. Both Hassett and Warsh are well-known figures in economic and financial circles. Hassett, who led the National Economic Council early in Trump's presidency, reported in June that he owns shares in Coinbase Global, a major cryptocurrency exchange, valued between $1 million and $5 million. Warsh, who served on the Fed's board from 2006 to 2011, is open to blockchain innovations and even suggested that such technologies could benefit the U.S. central bank's payment systems.
Trump's historically tense relationship with Federal Reserve Chairman Jerome Powell, whom he appointed during his first term, continues to raise questions about the Fed's independence under his administration. Legal experts have debated whether the president has the right to remove Powell without cause, but an April Supreme Court ruling expanded presidential control over certain federal agencies. This very likely paves the way for increased White House influence on Fed policy in the future.
#MarketRebound , #Сryptomarketnews
If you can't handle the large flow of news related to cryptocurrencies and the financial world, then perhaps you shouldn't be subscribed to this group (!) ... 😉🙄
