Democrats ‘war on the crypt’ will lose them key voters: Winklevoss twins

According to the Winklevoss twins, United States President Joe Biden and the Democratic Party risk losing their significant youth voters as a result of continuing the “war against crypto”.

On June 10, Cameron Winklevoss, the co-founder of crypto exchange Gemini, tweeted that Democrats would “alienate an entire generation” of young voters because of their war — the same voters who were key to winning the last election.

@SenWarren And @Gary Gensler The war against crypto is about to alienate an entire generation of potential Democrats.

Winning the youth vote is a key part of the “get out the vote” Dem playbook.
Dems believe the youth vote will carry the day. pic.twitter.com/F4FQowjCVn

— Cameron Winklevoss (@cameron) June 10, 2023

Cameron specifically singled out Senator Elizabeth Warren and President-Biden nominee Securities and Exchange Commission Chairman Gary Gensler.

A day later on June 11, Tyler Winklevoss, the other Gemini co-founder and Cameron’s twin brother, claimed with his own tweet that Warren and Gensler’s “war” would cause the Democrats to lose the 2024 election.

Roe cost the Republicans in the midterms. @SenWarren And @Gary Gensler The war on crypto will cost the Dems in the 2024 election.

— Tyler Winklevoss (@tyler) June 11, 2023

Gensler’s tenure at the SEC has seen an increase in enforcement actions against the crypto space while Senator Warren has shared hints of creating an “anti-crypto army”.

Crypto on the Ballot?

On November 5, 2024, the US will hold presidential elections along with elections to the House of Representatives and the Senate. All 435 seats in the House are at stake, along with 34 of the 100 seats in the Senate.

Young voters – ages 18 to 29 – are a key voting bloc for Democrats. statistics The US 2022 midterm elections show that 63% of the youth surveyed voted for the Democrats, compared to 35% for the Republicans.

The same age group is also the largest demographic of crypto users or investors, with 28% of American 18 to 29-year-olds saying – at some point – they have used or invested in crypto, according to one april report by Pew Research.

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However, it is not clear how important crypto policy is to young voters compared to other issues.

in a pew survey At policy priorities held in January – before the banking crisis in March – the top issue was strengthening the economy which came second to improving education for those aged 18 to 29.

Cryptocurrency regulation didn’t make the list of top 21 policy items according to a survey by Pew.

Regardless, some presidential candidates from both sides of the political aisle have made their stances on crypto policy clear, such as Republican candidate Ron DeSantis and Democratic candidate Robert F. Kennedy Jr., who have indicated pro-crypto stances.

Cameron and Tyler Winklevoss have contributed to campaigns for the Republican and Democratic candidates. According To statistics From lobbying tracking site OpenSecrets.

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