Trump campaign refunds Winklevoss twins after bitcoin donations exceed limit, Bloomberg News reports

(Reuters) – The billionaire Winklevoss twins, founders of cryptocurrency company Gemini, were refunded after their bitcoin donations to Donald Trump’s presidential campaign exceeded the maximum amount allowed under federal law, Bloomberg News reported on Friday.

Tyler and Cameron Winklevoss, whose crypto firm in February entered settlement agreements with U.S. and New York state financial regulators after accusations of wrongdoing, each announced donations of $1 million in bitcoin in posts on social media site X on Thursday.

Their donations exceeded the maximum $844,600 that the Trump committee can legally accept per person, according to the report. The portion above that limit was refunded to the donors, the report said, citing a campaign official.

A spokesperson for the Trump campaign did not immediately respond to Reuters’ request for a comment.

The donations came after Trump presented himself as a champion for crypto, including at a San Francisco fundraiser this month with tech executives during which he slammed Democrats’ attempts to regulate the crypto sector.