“I wouldn’t be surprised to wake up and hear that the tariffs have been postponed,” said Ackman, implying that Trump could use the delay to make more “deals.”

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On April 2, Trump signed an executive order imposing a 10% baseline tariff on all imports. Following this move, during the April 4 trading session, the U.S. stock market lost more value than the entire crypto market is currently worth. Interestingly, Bitcoin and the broader crypto space showed greater resilience than traditional equities.

Support from BitMEX and Gemini Founders!

BitMEX co-founder Arthur Hayes and Gemini co-founder Cameron Winklevoss publicly supported Trump’s trade policy. While opinions in the crypto space remain mixed, Ackman sees the tariffs as a “necessary” move to protect American workers and industry.

Ackman also issued a warning:

“The immediate implementation of these tariffs may catch businesses off guard and could push the U.S. economy into a severe recession.”

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The Winklevoss twins made announcements about their gifts on X.

“I just donated $1 million in bitcoin (15.47 BTC) to (Donald Trump) and will be voting for him in November,” Tyler Winklevess said in his tweet.

“The Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and sue the good actors in our industry in an effort to destroy it,” the CEO of Gemini also stated in a explanation of why he believe Trump is the better option for president.

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Following suit, Tyler’s twin brother, Cameron Winklevoss, also provided his justifications for giving Trump $1 million worth of bitcoin. “President Trump is pro-bitcoin, pro-crypto, and pro-business,” he declared.

Apart from recently starting to take crypto donations, Trump’s campaign aims to establish him as the candidate most likely to advocate cryptocurrencies.

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The post Winklevoss Twins Contribute $2M Bitcoin to Trump Campaign appeared first on Coin Engineer.