Winklevoss twins warn crypto crackdown may cost Democrats 2024 elections

Winklevoss twins have warned the United States Democrats that their war on the cryptocurrency industry might cost them the 2024 presidential elections. Democrats have targeted the digital asset class during their campaigns.

Moreover, President Joe Biden disagreed with crypto trading during the latest budget negotiation (invezz.com reports).

Winkelvoss’ take on the ongoing crypto war

CRYPTO BREAKING NEWS
Winklevoss twins warn democrats of alienating youth voters with anti-crypto stance. Renowned crypto billionaires Cameron and Tyler Winklevoss have issued a cautionary message to the Democratic Party, emphasizing the risk of losing… check us out @… pic.twitter.com/hhongsE43M

— InnovatekMobile (@Neome_com) June 12, 2023

Cameron Winklevoss trusts the war in cryptocurrency will cost Senator Warren and Gary Gensler the upcoming elections, alienating individuals that would vote for Democrats. He added that youth votes are crucial for a win, and the party knows the younger generation will decide the outcome.

Tyler Winklevoss added that Gensler’s and Warren’s war on the emerging industry will dent their 2024 election plans like what Wade vs. Roe did to Republicans mid-term.

The remarks come after the SEC intensified its clampdowns on digital currencies lately. The regulator filed suits against the leading exchanges Coinbase and Binance.

Winklevoss twins to establish their empire in Europe

As invezz.com highlighted, crypto firms have been fleeing the United States due to unclear crypto rules. Meanwhile, Gemini founders voiced interest in building their cryptocurrency empire outside the US. Gemini chose Dublin as its European headquarters last month.

Nonetheless, the firm stated that it would continue to fight for inclusion United States market. Despite not being aggressively involved, the Winklevoss have defended the crypto community in the US.

The SEC has met criticism due to its clampdowns on the crypto businesses. However, the regulator believes it’s all for the users’ good. The latest suits against Coinbase and Binance could determine the future of digital assets in the US.