Gemini founders Winklevoss twins invested in American Bitcoin Corp, a mining company owned by Trump's son. The company is expected to go public on the US stock market in early September.

According to Bloomberg, the Winklevoss twins, founders of the Gemini exchange, have invested in American Bitcoin Corp., a Bitcoin mining company co-founded by Donald Trump Jr. and Eric Trump. The company, spun off from publicly traded mining company Hut 8, is currently pursuing a Nasdaq listing via a merger with Gryphon Digital Mining, with completion expected in early September 2025.

The private placement raised approximately $220 million in cash and Bitcoin, and was oversubscribed. The size of the investment has not been disclosed, but the Winklevoss brothers donated millions of dollars worth of Bitcoin to the Trump campaign. Meanwhile, Gemini has submitted a draft IPO application to the SEC and is planning to go public. Bloomberg previously reported that Eric Trump, the second son of President Trump, could hold a stake in American Bitcoin Corp. worth $367 million when it goes public. (TheBlock)