- Sen. Warren and SEC chair Gary Gensler were singled out by Cameron.
- Winklevoss tweeted that Democrats will lose the 2024 election because of the war on crypto.
If President Joe Biden and the Democratic Party don’t stop their “war against crypto,” they’ll lose the support of young people, who are critical to their success in office, say the Winklevoss twins. Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, tweeted on June 10 that the Democrats’ anti-crypto position would “alienate an entire generation” of vital young voters.
Sen. Warren was singled out by Cameron, as was SEC chair Gary Gensler, who was nominated by President Joe Biden. On June 11, Cameron’s twin brother and fellow Gemini co-founder Tyler Winklevoss tweeted that Democrats will lose the 2024 election because of the “war” of Warren and Gensler.
The number of crypto-related enforcement proceedings increased during Gensler’s time at the SEC, and Senator Warren has hinted at assembling an “anti-crypto army.” The United States will have a general election for president, congress, and the Senate on November 5, 2024. All 435 House seats and 34 of 100 Senate seats are up for grabs.
Banking on Young Voters
Democrats tend to do well with voters younger than 35. In the midterm elections of 2022 in the United States, 63% of young voters supported the Democratic Party, while 35% supported the Republican Party.
Pew Research found in April that the biggest group of cryptocurrency users and investors are between the ages of 18 and 29, with 28% of this age group reporting having used or invested in cryptocurrency at some time.
However, the degree to which young people place crypto policy above other matters is unclear. For those aged 18–29, boosting the economy ranked second only to bettering education in a Pew study of policy goals done in January, before the financial crisis in March.
Candidates for president on both the Republican and Democratic sides, such as Ron DeSantis of the Republicans and Robert F. Kennedy Jr. of the Democrats, have made their positions on crypto policy apparent.