Cameron Winklevoss, a well-known cryptocurrency billionaire, claims that the young vote saved the American Democrats from loss in 2020 and upsetting them now might result in “lost votes” in the coming election.
Democrats to Lose 2024 Elections?
As per the co-founder of Gemini, “Senator Warren and Gary Gensler’s war on crypto is going to alienate an entire generation of would-be Democrats,” and “crypto has already won the hearts and minds of Millennials and GenZ.”
Young Voters Helped the Party Win in 2020
Cameron posted a CNN story from 2022 that said that young voters helped the Democrats win last year’s elections, preserving its reputation for the party. However, the existing regulatory framework may backfire for cryptocurrency entrepreneurs.
Cameron strongly criticized attempts by the US Senator Elizabeth Warren and SEC Chairman Gary Gensler to discredit the cryptocurrency sector, warning that their actions might have a disastrous outcome for the Democratic party.
Democrats are ‘Grossly Miscalculating the Impact of their Actions’
He provided the two scenarios in his tweet:
“[The] blue establishment either doesn’t understand what’s going on with Warren and Gensler, or are grossly miscalculating the impact of their actions on the youth vote this upcoming election cycle.”
Tylor Winklevoss tweeted endorsing his brother’s statement: “Roe [v. Wade] cost Republicans the midterms,” he adds: “The Sen. Warren and Gary Gensler’s war on crypto will cost Dems the 2024 election.”
Memecoins Theme on Gensler and SEC Skyrocket
Notably, the twin brother’s views comes followed by the memecoins that were created in response to the Securities and Exchange Commission (SEC) and its chairman Gary Gensler, gaining significant popularity and rise.
In just a day after the regulator filed a lawsuit against Coinbase and Binance, it outperformed Dogecoin, Shiba Inu, and Pepe coin in gains.
While many cryptocurrency enthusiasts are requesting for regulatory certainty, Rostin Behnam, Chairman of the US Commodity Futures Trading Commission (CFTC), emphasized that the process of drafting these regulations would still take time, despite the possibility of additional funding for cryptocurrency-specific resources.