Renowned crypto billionaire Cameron Winklevoss and his twin brother Tyler have sounded the alarm for the U.S. Democratic party, emphasizing that alienating the youth vote by undermining the cryptocurrency industry could result in “lost votes” in the upcoming 2024 election cycle.
The Winklevoss twins, co-founders of the crypto exchange Gemini, expressed their concerns on social media, directly criticizing U.S. Senator Elizabeth Warren and the Head of the Securities and Exchange Commission (SEC), Gary Gensler.
Tyler Winklevoss took to Twitter to assert that the Republicans’ loss in the midterms was due to their stance on Roe v. Wade, the landmark abortion rights case. He further warned that if Senator Warren and Gensler continue their perceived war on crypto, it could jeopardize the Democrats’ chances in the 2024 election.
Crypto Billionaire Winklevoss Twins Warn Of Democratic Fallout As Warren And Gensler Attack Crypto Industry
Cameron Winklevoss echoed his brother’s sentiments, denouncing the efforts of Warren and Gensler to undermine the cryptocurrency industry and stressing the potentially dire consequences for the Democratic party.
In a series of tweets, Cameron Winklevoss emphasized the popularity of crypto among Millennials and Gen Z, stating that these generations have embraced the technology without questioning its merits. He cautioned that alienating this crucial demographic through actions that cause value destruction, as he believes Warren and Gensler have done, could have lasting repercussions for the Democratic party.
To support their argument, Cameron Winklevoss shared a CNN headline, 2022, that credited young people for saving face for the Democrats in the previous year’s elections. The Winklevoss twins, long-time Bitcoin supporters with a bullish outlook on its price, have not aligned themselves with any specific political party. However, Cameron has previously supported Republican candidates.
The statements from the Winklevoss twins come amid the backdrop of aggressive actions by Senator Warren and SEC Chair Gary Gensler, both members of the Democratic party. Warren has gained attention for her “Anti Crypto Army” campaign and claims that digital currencies contribute to illicit activities such as the deadly fentanyl trade. Gensler, a staunch critic of digital currencies, recently made headlines as the SEC charged significant exchanges like Coinbase and Binance with violating U.S. securities laws.
While Warren and Gensler take an anti-crypto stance, it’s important to note that not all Democrats share their views. For instance, presidential candidate Robert Kennedy Jr. has supported Bitcoin and recently appeared as a keynote speaker at the Bitcoin 2023 conference.
The Winklevoss twins believe that the Democratic party’s failure to understand the implications of Warren and Gensler’s actions or their miscalculations regarding the impact on the youth vote could have grave consequences in the upcoming election cycle. As the 2024 election approaches, the Democratic party must carefully consider its stance on cryptocurrency regulation to avoid the potential alienation of a significant voting bloc.