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<p class="is-style-lead">Winklevoss twins have cautioned the Democratic Party about the potential consequences of their aggressive stance on crypto regulation, emphasizing the risk of alienating young voters and losing crucial support in future election cycles.</p>



<p>In a series of tweets on June 10, Cameron Winklevoss, the co-founder of the cryptocurrency exchange Gemini, criticized US Senator Elizabeth Warren and SEC Chair Gary Gensler for their efforts to undermine the crypto industry, warning that their actions may have dire implications for the Democratic party.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">The <a href="https://twitter.com/SenWarren?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@SenWarren</a> and <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@GaryGensler</a> war against crypto is going to alienate an entire generation of would-be Democrats.<br><br>Winning the youth vote w/ &quot;get out the vote&quot; is key part of Dem playbook. <br>Dems believe the youth vote will carry the day. <a href="https://t.co/F4FQowjCVn" target="_blank">pic.twitter.com/F4FQowjCVn</a></p>&mdash; Cameron Winklevoss (@cameron) <a href="https://twitter.com/cameron/status/1667657675096883201?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 10, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>The following day, Tyler Winklevoss, Cameron&#8217;s twin brother and co-founder of Gemini, echoed his sentiments in a tweet, predicting that the Democrats would lose the 2024 election due to the &#8220;war&#8221; initiated by Warren and Gensler against the crypto industry.</p>



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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Roe cost Republicans the mid-terms. The <a href="https://twitter.com/SenWarren?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@SenWarren</a> and <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@GaryGensler</a> war on crypto will cost Dems the 2024 election.</p>&mdash; Tyler Winklevoss (@tyler) <a href="https://twitter.com/tyler/status/1667945429449994244?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 11, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>Cameron Winklevoss highlighted the significant influence of cryptocurrencies among Millennials and Gen Z, stating that the <a href="https://crypto.news/research-7-out-of-10-gen-zs-are-drawn-to-the-metaverse/">younger generation has already embraced</a> the value of digital assets.</p>



<p>Winklevoss further argued that these voters are not interested in debating the merits of crypto and will not forget the negative impact caused by Warren and Gensler.</p>




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<h2 class="wp-block-heading" id="regulatory-backfire-concerns-over-crypto">Regulatory backfire concerns over crypto</h2>



<p>The twins, who are <a href="https://crypto.news/winklevoss-twins-500k-bitcoin/">long-time Bitcoin advocates</a>, expressed concerns that the current regulatory environment could backfire on the Democratic Party. They <a href="https://edition.cnn.com/2022/11/12/politics/young-voters-democrats-midterm-elections/index.html" target="_blank" rel="noopener">referred </a>to a CNN headline from 2022, which highlighted the party&#8217;s success in the previous elections, primarily attributed to the support of young voters. </p>



<p>According to Winklevoss, the actions of Warren and Gensler might jeopardize this support in the upcoming election cycle.</p>



<p>While Warren has been known for her <a href="https://crypto.news/us-senator-elizabeth-warren-renews-anti-crypto-stance/">strong opposition to cryptocurrencies</a>, accusing the technology of aiding criminal activities, not all Democrats share the same anti-crypto sentiment. Robert Kennedy Jr., a Democratic presidential candidate, has shown<a href="https://crypto.news/presidential-candidate-robert-f-kennedy-jr-praises-bitcoin/"> support for Bitcoin</a> and recently spoke at a Bitcoin conference.</p>



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<iframe title="The War For Crypto Just Started...." width="1020" height="574" src="https://www.youtube.com/embed/IMFXFpwYt-8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>In contrast, Republicans have generally displayed a more favorable attitude toward cryptocurrencies. Figures such as Wyoming Senator <a href="https://crypto.news/senator-lummis-americans-future-bitcoin/">Cynthia Lummis</a>, known as the &#8220;Bitcoin Senator,&#8221; and Republican House Majority Whip Tom Emmer have championed the potential of digital assets.</p>



<p>Furthermore, Florida Governor Ron DeSantis, a Republican presidential candidate, has even banned Central Bank Digital Currencies (CBDCs) in his state, <a href="https://crypto.news/florida-governor-ron-desantis-challenges-cbdcs-defends-financial-freedom/">arguing</a> that they pose a significant threat to the financial freedom of Americans.</p>



<p>Recent data from Coinbase reveals that approximately <a href="https://www.coinbase.com/blog/new-national-survey-of-2-000-american-adults-suggests-20-of-americans-own" target="_blank" rel="noopener">66 million Americans</a>, or around 20% of the population, own digital assets. Winklevoss argues that while these individuals may not currently prioritize crypto-related matters, they will certainly take notice if their favored party disregards their support.&nbsp;</p>




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Democrats to lose 2024 US elections due to crypto war, Winklevosses warn

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