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- 1 Winklevoss Twins predict the raging attacks of Democrats on the crypto industry will cost them the 2024 election.
- 2 The anti-crypto actions can disturb the equation of the party with their young voters who are the biggest crypto supporters.
Cameron Winklevoss, a crypto billionaire, warned the Democrats’ ongoing ‘war on crypto’ can make them lose their grip on the U.S. Senate in 2024. Taking to his official Twitter handle, Cameron said the anti-crypto stance of democrats, Senator Warren and SEC chair Gary Gensler, can “alienate an entire generation of would-be democrats.”
The @SenWarren and @GaryGensler war against crypto is going to alienate an entire generation of would-be Democrats.
— Cameron Winklevoss (@cameron) June 10, 2023
Winning the youth vote w/ "get out the vote" is key part of Dem playbook.
Dems believe the youth vote will carry the day. pic.twitter.com/F4FQowjCVn
He cited an article from CNN, a renowned news outlet, that credited the younger American for the victory of Democrats in the 2018 elections. Cameron added in his tweet that “Crypto has already won the hearts and minds of millennials and Gen Z.” He argued that by undermining the crypto industry, Democrats risk losing the support of their young demographic who are staunch crypto enthusiasts.
Cameron also mentioned that millions of these young voters have invested their life-savings in crypto and would not overlook the value destruction Warren and Gensler have caused.
Crypto has already won the hearts and minds of Millennials and GenZ.
— Cameron Winklevoss (@cameron) June 10, 2023
They don't debate the merits of crypto.
They debate where and what to build next.
And millions have put their life-savings into crypto.
They won't forget the value destruction Warren and Gensler have caused. pic.twitter.com/iaZxKloVxx
The Former Olympic rower tweeted these statements amid the aggressive actions of Warren and Gensler that are shaking the crypto industry. “The blue establishment either doesn’t understand what’s going on with Warren and Gensler,” Cameron proposed as an explanation “or are grossly miscalculating the impact of their actions on the youth vote this upcoming election cycle.”
Cameron’s twin brother and co-founder of the crypto exchange, Gemini, Tyler Winklevoss also concurred with the warnings. The twin followed up the original tweet with a comparison of the present situation to the controversial Roe v. Wade case that legalized abortion in 1973. As per Tyler, just as the landmark Roe v. Wade lawsuit cost Republicans the midterm elections, Democrats’ anti-crypto agenda will reduce their chances of winning the 2024 elections.
Roe cost Republicans the mid-terms. The @SenWarren and @GaryGensler war on crypto will cost Dems the 2024 election.
— Tyler Winklevoss (@tyler) June 11, 2023
Winklevoss Twins’ Crypto Exchange Gemini vs. SEC
From gaining recognition as the co-originators of Facebook to becoming bitcoin billionaires, Winklevoss Twins have always remained in the spotlight. The mirror twins started investing in cryptocurrency Bitcoin when its value was worth less than $10. The collapse of Japan-based Mt. Gox bitcoin exchange inspired the twins to found Gemini in 2015, a crypto exchange that was valued at $7.1 Billion as of November 2021.
Bitcoin’s price surge in 2017 to nearly $20,000 gave Winklevoss Twins the title of “Bitcoin Billionaires.” However, as the crypto industry is facing harsh regulatory actions from the U.S. Securities and Exchange Commission (SEC), Gemini and its co-founders are facing several challenges.
Recently in January, 2023, the SEC issued a lawsuit against the firm alleging that Gemini’s Earn program constituted an unregistered offer and sale of securities. Genesis, part of a subsidiary of Digital Currency Group (DCG) and Gemini’s lending partner in the program, was also charged in tandem.
SEC chair, Gary Gensler, who has been in the news for voicing out his opinions against cryptocurrencies noted that, “We allege that Genesis and Gemini offered unregistered securities to the public, bypassing disclosure requirements designed to protect investors.”
In his response to the lawsuit against Gemini, Tyler Winklevoss posted on his Twitter handle that “It’s disappointing that the [SEC] chose to file an action today as [Gemini] and other creditors are working hard together to recover funds.” On the other hand, Cameron Winklevoss penned and shared an open letter on Twitter to the DCG founder Barry Silbert for ‘bad faith stall tactics.’
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
