By Michael Scott
In a June 10 tweet, Cameron Winklevoss warned that President Joe Biden and fellow Democratic politicians will lose the young people in the forthcoming 2024 election.
Sustained War on Crypto Affecting Livelihood of Young Americans
The co-founder of Gemini crypto exchange alleges that the sustained war on crypto affects the livelihood of young people who constitute the largest crypto adopters. Cameron indicates that the young constitute a key voting block relied upon by Democrats in the previous election.
Cameron alleges that the Biden administration’s onslaught on crypto will gradually alienate the entire generation opposed to the anti-crypto stance adopted by the Democratic Party. He pointed out Senator Elizabeth Warren as the anti-crypto crusader. Also, the US Securities and Exchange Commission (SEC) head Gary Gensler, a Biden-nominated leader, criticizes digital assets.
Tyler Warns of Democrats Losing 2024 Elections
Hours later, Tyler Winklevoss would, on Sunday, June 11, tweeted that the Warren- and Gensler-led war on crypto will plunge Democrats into early loss in the 2024 election.
The co-founder of Gemini crypto exchange argues that Gensler’s tenure is characterized by increased enforcement actions targeted at various operators in the crypto space. The inclusion of Senator Warren is unsurprising, given her restated devotion to building an anti-crypto army.
Winklevoss’ pronouncements coincide with increased criticism of the latest move by the SEC to initiate lawsuits against Coinbase and Binance alleging violation of securities laws.
The twins argue that the aggressive stance against crypto will cost the Democratic party in the presidential, Senate, and House of Representatives slated for November 2024. They warn that Biden’s second stab in the White House would suffer heavily along with Democrats performing poorly in the contest for 435 House seats and 34 out of 100 Senate spots.
Democrats Risks Losing the Youth Voting Bloc
Winklevoss’ statements are informed by the awareness that youth voters aged below 29 years constituted a critical voting bloc. The scrutiny of data in the midterm election held in 2022 revealed that 63% of youths voted in favor of Democrats while Republicans had 35% support.
Further analysis of the population within the 18 – 19 age bracket shows 28% have either invested or utilized crypto. In its April report, Pew Research considered youth to be the largest crypto user demographic. The study results hardly revealed the crypto policy’s importance to young voters relative to the priority granted to other issues.
The Pew survey concluded before the banking crisis that hit the US in March saw the majority of youths within the 18 -19 age bracket rank a stronger economy as a priority. Improving education emerged as the second-ranked issue. Crypto regulation barely constituted the Pew Survey’s top 20 ranked policy items.
Winklevoss Statements Informed by the Procrypto Stance Demonstrated by Presidential Hopefuls
The warning of Democrats’ imminent loss in the forthcoming elections coincides with several Republican and Democratic presidential nominees signaling pro-crypto stances. Republican candidate Ron DeSantis and Robert Kennedy Jr. from Democratic rivals have restated their enthusiasm for crypto.
The announcement by Cameron and Tyler is triggering debate as the 2024 election campaigns take shape. The two brothers have in the past contributed to the Republicans and Democrats as outlined by OpenSecrets, a lobbying tracking platform.
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