The co-founders of crypto exchange Gemini Cameron and Tyler Winklevoss announced on Saturday that most American youth wouldn’t vote for the Democrats in the upcoming election. In a Twitter statement dated June 10, Cameron Winklevoss stated that the ongoing “war on crypto” would trigger the Democrats to lose the election.
Cameron lamented that the Democrats’ negative crypto stance subjects them to losing the youth votes. In his report, Cameron stated that the actions of Senator Elizabeth Warren and the chair of the US Securities and Exchange Commission, Gary Gensler, aimed at “alienation of the entire generation.”
Will Democrats Win the 2024 Election?
In support of Cameron’s speculation, his twin brother Tyler stated that Warren and Gensler’s anti-crypto move could trigger the Democrats to be defeated in the 2024 election.
Tyler confessed that during the Gensler regime, the SEC implemented an enforcement approach that acted against crypto. Led by Gensler, the SEC has taken potential actions against high-profile crypto exchanges Binance and Coinbase.
Additionally, Tyler noted that Senator Warren has been seeking to create an anti-crypto movement limiting the growth of the digital space. In her earlier report, Warren stated that crypto had been used to fund fentanyl trades.
On the other hand, Republican members such as Ron DeSantis have recently supported the growth of crypto assets. Other members of the Republicans who have vehemently supported crypto included Senator Cynthia Lummis and Whip Tom Emmer.
However, not all Democrats are against crypto. Speaking at the Bitcoin 2023 event, the Democratic presidential candidate Robert Kennedy Jr. mentioned the merits of adopting Bitcoin and central bank digital currency (CBDC).
Why are American Youths Against Democrats?
The Winklevoss twin noted that millennials and Generation Z have shifted to the crypto space. A recent study illustrated that approximately 63% of the youths voted for the Democrats in the 2022 election. In contrast, 35% of young adults voted for the Republicans.
Reportedly individuals between the age of 18 to 29 years are ranked among the early adopters of crypto in the US. An analyst from Pew Research confirmed that roughly 28% of American youth own crypto assets.
In a subsequent study, Pew analysts examined the American policy priorities. They noted that the youths advocated for ways to boost the economy, such as improving the education system. The need to strengthen the American economy was at the top of Pew’s priorities list.
Most of the participants in the Pew study failed to comment on crypto regulations. Hence cryptocurrency regulation was considered not a top priority in the Pew study.
Irrespective of this, it was reported that the Winklevoss twins have been supporting political campaigns in the past election.