Renown crypto billionaire Cameron Winklevoss says the youth vote rescued the U.S. Democratic party from defeat in 2020—and that alienating them now will mean “lost votes” in the next election cycle.

“Senator Warren and Gary Gensler’s war on crypto is going to alienate an entire generation of would-be Democrats,” he tweeted.

His twin brother Tyler, with whom he co-founded crypto exchange Gemini in 2014, concurred.

“Roe [v. Wade] cost Republicans the midterms,” Tyler tweeted on Sunday. “The Sen. Warren and Gary Gensler war on crypto will cost Dems the 2024 election.”

Cameron Winklevoss took to Twitter to denounce efforts by U.S. Senator Elizabeth Warren and Head of the SEC Gary Gensler to undermine the cryptocurrency industry, saying their actions might have dire consequences for the Democratic party. 

“Crypto has already won the hearts and minds of Millennials and GenZ,” Winklevoss tweeted, adding that “they don’t debate the merits of crypto; and they won’t forget the value destruction Warren and Gensler have caused.”

Cameron shared a CNN headline from 2022 that indicates the Democrats saved face in last year’s elections thanks to young people. To the crypto entrepreneur, the current regulatory environment could blow up in their face.

The Winklevoss twins are long-time Bitcoin permabulls, calling for a $500,000 bitcoin price point. Although Cameron has no official party line, he has supported Republican candidates in the past. 

These statements come amid aggressive actions from Warren and Gensler, two Democratic party members. 

The former Olympic rower proposes two explanations: “[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 youth vote this upcoming election cycle.”

Warren has made headlines this year for her “Anti Crypto Army.” She has also claimed that the technology helps fund the deadly fentanyl trade, broadly declaring that crypto is used by criminals.

Gensler, a staunch critic of cryptocurrencies, is also in the spotlight this week, after the SEC charged both Coinbase and Binance with breaking U.S. securities laws.

Not all Democrats are anti-crypto, however. Presidential candidate Robert Kennedy Jr., is pro-Bitcoin, appearing as keynote speaker at the recent Bitcoin 2023 conference. 

Republicans, on the other hand, seem much more open to the idea of cryptocurrency.

Wyoming senator Cynthia Lummis, dubbed the “Bitcoin Senator,” has been championing Bitcoin for years. Republican House Majority Whip Tom Emmer (R-MN) is considered “crypto-friendly.” And Ron DeSantis, Governor of Florida and Republican presidential candidate, has meanwhile outlawed Central Bank Digital Currencies (CBDCs) in his state.

The numbers for crypto appear to be on the Winklevoss’ side. According to a report by Coinbase, approximately 66 million Americans (or 20% of the entire population) own digital assets. 

“They may not care about crypto, but they will care about the lost votes,” Cameron concluded. 

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• Source: https://decrypt.co/144172/winklevoss-twins-say-war-on-crypto-will-hurt-democrats