Gemini sent $10M in Bitcoin to Trump PAC after joint motion with CFTC

Gemini reportedly donated $10 million in Bitcoin to MAGA Inc., a Trump-supporting PAC, shortly after filing a joint motion with the CFTC seeking to reverse a $5 million settlement tied to alleged misleading statements. The move underscores the increasingly political backdrop around US crypto regulation and could be interpreted as an effort to support a friendlier policy environment under the Trump administration. The article also notes that CFTC Chair Michael Selig remains the sole commissioner, while broader market structure legislation such as the CLARITY Act could expand the agency’s role in overseeing digital assets. For Bitcoin, the story is less about immediate price action and more about regulatory sentiment, political influence, and the potential implications for future crypto oversight.