Gemini co-founders Cameron and Tyler Winklevoss have recently made an investment in American Bitcoin Corp., a mining firm that is partly owned by Eric and Donald Trump Jr. The exact amount of the investment remains undisclosed, but it was part of a $220 million private placement that included both cash and Bitcoin. American Bitcoin Corp. is planning to go public through a merger with Gryphon Digital Mining in early September.
According to Hut 8 CEO Asher Genoot, the investment by the Winklevoss twins was oversubscribed and formed part of a private placement by the Miami-based venture. The offering generated approximately $220 million in combined cash and BTC proceeds, which will be utilized for asset accumulation and mining expansion.
This investment is significant as it further strengthens the relationship between the Gemini founders and the Trump family. The Winklevoss twins have attended various White House events in recent years and have donated millions to Trump’s 2024 campaign and pro-Trump political committees. Their relationship with the Trump family has drawn attention in Washington, with reports suggesting possible influence on White House decisions.
American Bitcoin Corp., which is partially owned by Eric and Donald Trump Jr., is set to list on Nasdaq through a merger with Gryphon Digital Mining. The company’s core strategy involves mining Bitcoin at a cost lower than the market rate and increasing its cryptocurrency holdings. As of June, American Bitcoin reported a reserve of 215 BTC worth nearly $24 million, stored with Coinbase Custody.
Overall, the investment by the Winklevoss twins in American Bitcoin Corp. highlights the growing connections between prominent figures in the cryptocurrency industry and the political landscape. The upcoming Nasdaq listing of American Bitcoin Corp. signals a significant milestone for the firm and its owners, including Eric and Donald Trump Jr.