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The SEC has closed its investigation into Gemini without bringing any charges.
Cameron Winklevoss criticized the SEC, blaming it for massive legal costs and lost innovation.
The U.S. Securities and Exchange Commission (SEC) has formally closed its almost two-year probe of Gemini Trust Co., the crypto exchange established by the Winklevoss twins. Cameron Winklevoss said that the agency has resolved not to seek any enforcement action against the firm.

The investigation lasted 699 days and included a Wells Notice issued 277 days ago, signalling potential legal action. However, despite the SEC’s decision to drop the case, Cameron Winklevoss remains critical and did not express relief or satisfaction over the SEC’s decision in his statement.

Moreover, he condemned the agency’s aggressive approach, asserting that Gemini incurred tens of millions of dollars in legal fees and suffered hundreds of millions in lost productivity and innovation.

Cameron further stated:

“The SEC’s behavior toward other crypto companies and projects has cost orders of magnitude more and caused unquantifiable losses in economic growth for America.”

He urged monetary penalties against the regulatory body to stop future growing pains, especially in regard to the regulation of crypto lawful businesses.

Gemini’s IPO Consideration and Legal Battles
Gemini is also contemplating the issue of an initial public offering (IPO) later this year. Nevertheless, the company has not finalized any decision regarding the same.

In January, the firm agreed to pay $5 million to settle charges with the U.S. Commodity Futures Trading Commission (CFTC) over claims of misleading disclosures. In June 2023, Gemini settled a case with the New York Attorney General’s office for $50 million.

Shift in SEC’s Crypto Enforcement
The move to close the Gemini investigation is consistent with the SEC’s approach to crypto enforcement. Since Acting Chairperson Mark T. Uyeda took over following Gary Gensler’s departure, the agency has adopted a more crypto-friendly approach.

This policy shift follows the SEC’s recent withdrawals of legal actions against Coinbase, OpenSea, Robinhood, and UniSwap. The agency’s retreat has raised speculation that it may adopt a more measured approach in ongoing high-profile cases, including the lawsuit involving Ripple Labs.
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Gemini co-founders Tyler and Cameron Winklevoss have made a major political move, donating 188 Bitcoins valued at $21 million to the Digital Freedom Fund PAC, a newly formed crypto-focused political action committee. The donation was revealed by Tyler Winklevoss in an August 20 X post.
Today, @cameron and I donated $21 million in bitcoin (188.4547 BTC) to the Digital Freedom Fund PAC. The mission of the @FreedomFundPAC is to help realize President Trump’s vision of making America the crypto capital of the world. Since inauguration, @POTUS and his Administration…— Tyler Winklevoss (@tyler) August 20, 2025
PAC Goals and Political Influence
The Digital Freedom Fund PAC outlined ten objectives, including protecting software developers, advancing open banking legislation, and working to defeat Democrats in the 2026 midterm elections.
“Today, @cameron and I donated $21 million in bitcoin (188.4547 BTC) to the Digital Freedom Fund PAC,” Tyler wrote. “The mission of the @FreedomFundPAC is to help realize President Trump’s vision of making America the crypto capital of the world.”
He added, “Since inauguration, @POTUS and his Administration have been delivering on promises made on the campaign trail. We want this unprecedented progress and momentum to continue. Our goal is to support President Trump’s efforts to usher in America’s Golden Age.”
Winklevoss Twins’ Political Engagement
The billionaire twins have long been active in Republican causes. They previously donated $5 million to the pro-crypto super PAC Fairshake and $2 million to President Trump’s 2024 campaign.
Most recently, Politico reported that the twins urged Trump to reject CFTC chairman nominee Brian Quintenz, despite Tyler earlier praising the choice in February.
Shaping U.S. Crypto Policy
The $21 million Bitcoin donation reflects the Winklevoss brothers’ commitment to shaping U.S. crypto regulation and reinforcing Trump’s crypto-friendly agenda. Their move highlights the growing influence of digital assets in American politics and the alignment of top crypto industry leaders with national policy.
As the U.S. advances its role in digital finance, this high-profile donation could impact both regulation and the mainstream acceptance of cryptocurrencies in the financial system.
The post appeared first on CryptosNewss.com
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📅 August 20 | United States
Politics and the crypto world are intersecting again in an explosive movement: Tyler and Cameron Winklevoss, co-founders of the Gemini exchange, made a Bitcoin donation equivalent to more than $22 million to a political action committee (PAC) supporting Donald Trump's candidacy. The news broke in Washington and on Wall Street, sparking intense debates about the role of digital money in the 2025 presidential elections.

📖 The Winklevoss twins, famous for their early investment in Bitcoin and for founding Gemini, are no strangers to controversial moves at the intersection of technology, finance, and politics. But this time they went a step further by announcing the donation of 188 BTC—valued at approximately $22 million at current prices—to a PAC aligned with Donald Trump.
The move comes amid growing regulatory tension: the Trump administration has signaled greater openness toward the crypto industry, with measures such as the Genius Stablecoin Act and pressure to accelerate the approval of regulatory frameworks. For the Winklevosses, the financial backing appears to be both a political gesture and a strategic move: supporting a candidate who promises fewer regulatory hurdles for the crypto sector.
The donation becomes one of the largest ever made in cryptocurrency to a political committee in the US. The fact did not go unnoticed: analysts are already interpreting it as a direct message from the crypto community to the political establishment, demonstrating that the industry is willing to play hardball in the electoral arena.
However, the move is not without risks. Critics argue that using Bitcoin in political donations could open the door to transparency issues and irregular financing. Others, however, see it as further proof that cryptocurrencies are already an integral part of the American economy and politics.
With the presidential elections on the horizon, the Winklevosses' gesture rekindles the debate about the role of digital money in modern democracy. Is it a legitimate mechanism for political participation or a weapon that distorts the electoral balance?

Topic Opinion:
It's not just money: it's direct influence over the direction of regulatory policies in the US. While the participation of crypto players in politics is inevitable, it should also be accompanied by very strict transparency rules to prevent the economic power of a few from determining the future of the entire industry.
💬 Do you think Bitcoin donations should be limited?

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