• Many people are unhappy with Gary Gensler’s SEC, including Gemini’s Winklevii.
• Cameron Winklevoss believes that the Democrats‘ anti-crypto policies will result in “lost votes” in the 2024 election cycle, alienating an entire generation of important young voters.
• According to research by Pew, 28% of Americans between 18 and 29 have used or invested in cryptocurrencies at some point.
Disapproval for Gary Gensler’s SEC
Many people are unhappy with Gary Gensler’s SEC, including Gemini’s Winklevii. Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, tweeted that the Democrats’ anti-crypto stance would “alienate an entire generation” of important young voters. Senator Elizabeth Warren and President Biden’s nominee for Chair of the Securities and Exchange Commission (SEC), Gary Gensler, were explicitly singled out by Cameron. Tyler Winklevoss, also a co-founder of Gemini responded to this by asserting that Gensler and Warren’s “war on crypto” would result in the Democrats losing the 2024 election.
Increase In Crypto Enforcement Proceedings
The number of enforcement proceedings against the crypto-industry has increased during Gensler’s time at the SEC. And, Senator Warren has hinted at creating an “anti-crypto army.“ On November 5th 2024 there will be elections for Senate, House Representatives and Presidency – all up for grabs. Young people (18 to 29) comprise a sizeable portion of Democratic voters according to midterm elections results from 2022 where 63% chose Democrats over Republicans by 35%.
Winklevii Standpoint on Crypto
The Winklevoss twins have long been investors in Bitcoin and have called for a price objective of $500000 per Bitcoin. In April 2021 research from Pew showed that 28% of Americans between 18 and 29 had used or invested in cryptocurrencies at some point making them the largest demographic group involved with crypto markets.
Young Voters Could Make Or Break Election
Cameron has backed Republican politicians in past even though he is not officially partied affiliated; however he believes that alienating young voters who support cryptocurrency could cost Democrats their 2024 election bid if they do not change their policies soon enough as it was youth votes which saved them from defeat 2020 Presidential Elections.
It remains to be seen how things will play out leading up to November 5th 2024 and whether or not Democrat’s policy changes regarding cryptocurrency will help secure more youth votes come election day but what is certain is that if they remain hostile towards cryptocurrency then it could cost them dearly come election day as young voters have proven themselves a critical component to success when it comes down to polls in America recently