Co-founders of Gemini Cameron and Tyler Winklevoss have made an unknown investment in American Bitcoin Corp., a mining agency that is partly owned by US President Donald Trump’s sons Eric and Donald Jr.
Summary
- Cameron and Tyler Winklevoss invested an unprecedented amount in American Bitcoin Corp., partly owned by Eric and Donald Trump Jr.
- The investment was part of a private placement of $ 220 million that included both cash and Bitcoin.
- American Bitcoin is planning to make public at the beginning of September through a merger with GryPhon Digital Mining.
Speaking with Bloomberg, Hut 8 CEO Asher enjoyed said The investment was part of a private placement by the Miami -based company, which was ‘surplus’.
Enjoyed confirmed that the Winklevoss Twins participated with the help of Bitcoin, although he refused to specify the amount. The offer generated around $ 220 million in combined cash and BTC yield, which the company intends to use for accumulation of assets and mining extension.
Why is this investment considerable?
The investment adds a different link in the growing relationship between the Gemini founders and the Trump family.
In recent years, the Twins have attended several events at the White House, including a digital assets summit of March and a signing ceremony in July for the Genius Act, which determines a regulation framework for payment staboins. President Trump personally recognized their contributions during the last event.
De Tweeling also donated millions to the Trump campaign in 2024 and the political committees for Pro-Trump.
Interestingly, this relationship seems to attract attention in Washington. In July, polico reported That the Winklevoss brothers may have influenced the decision of the White House to postpone the appointment of Brian Qutenz as chairman of the US Commodity Futures Trading Commission.
The Senaats Agriculture Committee had planned a vote on the appointment of Qutenz before the legislators left for August. However, the process stuck after a request from the White House.
Although the report did not confirm a direct intervention by the twins, it noted that their earlier public support for Quintenz after the announcement of President Trump van de Nomination.
The reasons behind the delay remain unclear and neither the White House nor the Gemini-MEDE founders have publicly tackled the claims. For now, the nomination is expected back to the Senate agenda when the legislators meet later this year.
American Bitcoin set for Nasdaq list
American Bitcoin, which is approximately 20% owned by Eric and Donald Trump Jr., stem from a restructuring of the mining activities of Hut 8. The Canadian miner brought in the US established mining sites and equipment in the new company in exchange for an interest of 80%, while the Trump sons.
The company has agreed to become public through a merger All-Stock with Nasdaq-Genotde GryPhon Digital Mining, a deal that is expected to close at the beginning of September. According to Bloomberg, the importance of Eric Trump can be worth no less than $ 367 million.
The core strategy of American Bitcoin focuses on building value in the long term through two parallel objectives. The first is to share Bitcoin at a cost lower than the market rate. The second is to constantly increase his direct cryptocurrency interests.
From June American Bitcoin reported a reserve of 215 BTC worth nearly $ 24 million, stored with Coinbase guardianship. The company slows down its mining activities instead of having and exploiting all infrastructure directly, a model that keeps the fixed costs low and at the same time scaling quickly.
