Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Gemini co-founder Cameron Winklevoss has reiterated his endorsement for US Presidential candidate Donald Trump on the date of the US elections. The entrepreneur has encouraged the crypto community to “choose wisely” when casting their votes, in an effort to protect the digital asset sector.
In a message on X, he emphasized the regulatory challenges the crypto industry faced during the Harris-Biden administration. He pointed out that the current administration has resulted in $500 million in legal expenses for the crypto sector.
The Winklevoss twins of Gemini, who contributed $1 million in Bitcoin to support Trump in June, are of the opinion that the former President, if re-elected, would alleviate these financial burdens.
“Vote Trump and this goes to $0. Vote Harris and this will balloon to $ billions. Choose wisely.”
The Harris-Biden Administration has cost the crypto industry $500 million in legal fees. Vote Trump and this goes to $0. Vote Harris and this will balloon to $ billions. Choose wisely.
— Cameron Winklevoss (@cameron) November 5, 2024
Cameron Winklevoss explicitly stated his intention to vote for Donald Trump, citing him as “pro-Bitcoin, pro-crypto and pro-business.”
In another message, the twin remarked that the Biden administration had dismissed, mocked, and confronted the crypto industry.
“First they ignore you, then they laugh at you, then they fight you, then you VOTE, then you win.”
Some Crypto Players Support Cameron Winklevoss
Related Posts
In response to his Tweets, numerous prominent figures in the crypto space and legal experts expressed similar concerns as Winklevoss. For example, a crypto legal expert using the pseudonym MetaLawMan stated that the $500 million figure is underestimated.
“It does not account for the extortion payments (I mean settlements) made to the SEC by crypto projects that did not have the resources to contest the SEC for years,” he commented.
Yes, and the $500 million figure is low.
It does not count the extortion payments (I mean settlements) paid to the SEC by the crypto projects that lacked the wherewithal to fight the SEC for years.— MetaLawMan (@MetaLawMan) November 5, 2024
Another crypto entrepreneur, Wayne Vaughan, responded to the post, indicating that the legal fees represent only a fraction of the overall damage.
“Many companies departed from the United States. Numerous products and services were either never created or abandoned due to fears of regulatory consequences.”
Conversely, some individuals have criticized Trump’s previous administration for imposing significant costs on the crypto industry during his time in office. Shapeshift founder Erik Voorhees remarked that his company incurred millions in expenses during the Trump administration.
We paid millions during Trump admin
— Erik Voorhees (@ErikVoorhees) November 5, 2024
Gemini founders Cameron and Tyler Winklevoss criticized President Biden’s policies and regulatory approach in June, commenting on his mismanagement of the crypto sector.
The post Cameron Winklevoss Urges Crypto Community to Vote for Trump to Save the Industry appeared first on Cryptonews.
