Cameron Winklevoss, the co-founder of Winklevoss Capital Management and Gemini cryptocurrency exchange, publicly criticized Vice President Kamala Harris for what he called her “Big Bluff.”
The crypto billionaire acknowledged that Harris and her team were “working on a reset with the crypto industry” but maintained that she should only do so if her team were ready to take real action.
Winklevoss highlighted the negative impact of Biden’s administration on the crypto industry over the last four years, particularly emphasizing the role of Gary Gensler, the chairman of the Securities and Exchange Commission. Winklevoss and numerous other industry figures have shown support for Donald Trump by contributing to the former president’s presidential campaign.
He observed that the Democrats have damaged relationships but hope to mend them through communication alone. He referenced a statement from Trump claiming that crypto was a “High IQ” sector and would not be deceived by any tactics.
The industry will only consider Harris and her party’s actions, not just their words. He smartly highlights that the party may opt to replace Gary Gensler before the November elections, given how easily they removed the incumbent Joe Biden.
Winklevoss’s post sparked favorable responses from the crypto community. A community member specifically stated, “Show us what you can do, unburdened by what you have done.”
Under Biden, the SEC has initiated numerous enforcement actions against the crypto industry under the pretext of regulation. The agency has filed lawsuits against major companies such as Ripple, Binance, and Coinbase. The SEC has argued that many cryptocurrencies are securities and fall under its regulatory authority without clearly defining “security.”
In April of this year, Biden signed an Executive Order concerning the lack of a framework for developing cryptocurrency in the US. According to critics, the order has left the US behind the rest of the world, and increased government involvement will lead to more legal disputes.
Moreover, BTC Inc. CEO David Bailey mentioned that his company contacted Harris’ campaign organizers about her attending Bitcoin2024, where Trump also spoke. However, she did not ultimately attend the conference, which was unsurprising to Bailey.
He posted on X that Harris wouldn’t have had much to say, given that she “actively imprisoned developers and forced the industry overseas.”
