Brothers Tyler and Cameron Winklevoss have invested in American Bitcoin Corp., which is linked to members of the Trump family. This event comes as the company prepares for a public listing.
Winklevoss Brothers' Investment
The Winklevoss investment was part of a private placement round that raised approximately $220 million in cash and bitcoin. Asher Genoot, CEO of Hut 8, confirmed the round was 'oversubscribed'. The exact size of the Winklevoss contribution was not disclosed, although they have previously donated millions in bitcoin to support former President Donald Trump’s political efforts.
American Bitcoin Corp Plans
American Bitcoin Corp., around 20% owned by Trump's sons, is pursuing a merger with Gryphon Digital Mining. The combined entity is expected to list on Nasdaq in September 2025, pending shareholder approval. Eric Trump currently serves as chief strategy officer at this mining firm.
Gemini and CFTC Accusations
Cryptocurrency exchange Gemini is also eyeing public markets and filed a draft registration with the U.S. Securities and Exchange Commission in June. Meanwhile, Gemini accused the CFTC of relying on false evidence over a seven-year investigation. They claim the agency wasted taxpayer resources and is pushing for reforms.
The Winklevoss investment in American Bitcoin Corp. and the potential public listing underscore the growing interest in the cryptocurrency sector. Other developments surrounding Gemini highlight complex interactions between the crypto industry and regulatory bodies.
