Bloomberg: Gemini co-founder has invested in Trump family-related mining company American Bitcoin Corp

ChainCatcher news, according to Bloomberg, the co-founder of the cryptocurrency exchange Gemini, billionaire Winklevoss twins, have invested in a new cryptocurrency mining company that is associated with President Trump’s two sons—Eric Trump and Donald Trump Jr. As revealed by Asher Genoot, CEO of Miami's Hut 8, this investment is part of a private fundraising round for American Bitcoin Corp.

American Bitcoin Corp is formed by merging Hut 8's mining assets with an investor entity that includes the son of President Donald Trump. The specific investment amount from the Winklevoss twins has not been disclosed. This investment comes against the backdrop of an increasingly close relationship between the Trump family and the Winklevoss brothers. The twins have previously donated to President Trump's campaign and attended the digital asset summit held in March and last month's milestone cryptocurrency legislation signing ceremony as guests of the White House.

During Thursday's earnings call, Genoot stated that the private fundraising was "oversubscribed" and revealed that the Winklevoss twins invested using Bitcoin. The company reported that the issuance raised approximately $220 million in cash and total Bitcoin proceeds.