Yikes.
Can’t Make This Up
Crypto-obsessed twins and “long-time Bitcoin permabulls” Tyler and Cameron Winklevoss took to Twitter over the weekend to decry a recent crackdown on crypto by US regulators, with Tyler inexplicably going as far as to compare the Democrats’ so-called “war on crypto” to the overturning of Roe v. Wade.
Yes. Really.
“Roe cost Republicans the mid-terms,” Tyler — whose crypto exchange has been accused by the SEC of selling unregistered securities — tweeted on Sunday. “The [Senator Elizabeth Warren] and [Securities and Exchanges Commission Chair Gary Gensler] war on crypto will cost Dems the 2024 election.”
Apples and Hand Grenades
Frankly, as far as foolish billionaire crypto bro-isms go, we’re at a loss with this one.
Though Tyler doesn’t necessarily seem to be directly comparing the lived impact of the 2022 Supreme Court decision to effectively strike down the country-wide right to legal abortion in the US — a devastating and life-threatening healthcare disaster — to the government’s attempts to reign in the volatile crypto industry, it’s a ludicrous comparison to make nonetheless.
Arguing that crypto regulation will mobilize voters like the overturning of Roe v. Wade seems pretty far-fetched as well, to say the very least. And based on the comments section, we’re not the only ones with some misgivings here.
“Hardly the same,” tech investor Martín Varsavsky tweeted in response.
“Apples and hand grenades,” another netizen quipped.
Eyes Will Roll
“Crypto has already won the hearts and minds of Millennials and GenZ,” he continued, adding that “millions have put their life savings into crypto” and “they won’t forget the value destruction Warren and Gensler have caused.”
And sure, there’s at least some data supporting the idea that crypto still is a popular form of investment among Gen Z. But that may be the result of crypto firms, which have been accused of preying specifically on young investors in the months following last year’s disastrous crypto crash.
In short, is a crackdown on crypto really the number one topic that will fire up voter bases and potentially determine the outcome of the 2024 presidential election? Considering that the vast majority of Americans have lost faith in the safety and reliability of cryptocurrencies following a number of high-profile lawsuits and bankruptcies, that kind of opinion could only end up backfiring.
More on the crypto climate: Crypto Falls as SEC Sues Binance