Gemini co-founder Cameron Winklevoss has once again voiced support for US Presidential candidate Donald Trump on the US election date. The entrepreneur has urged the crypto community to “choose wisely” while voting, in order to save the digital asset industry.
In a post on X, he highlighted the regulatory pressures the crypto industry endured during the Harris-Biden administration. He noted that the current government had cost the crypto industry $500 million in legal fees.
Gemini’s Winklevoss twins, who donated $1 million in Bitcoin to support Trump in June, believe that the former President, if elected, would ease these financial pressures.
“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 openly stated that he would be voting for Donald Trump as he is “pro-Bitcoin, pro-crypto and pro-business.”
In another post, the twin wrote that the Biden administration had ignored, laughed and fought with 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 Back Cameron Winklevoss
Following his Tweets, many notable crypto players and legal experts responded, sharing similar concerns as Winklevoss. For instance, a crypto legal expert with the pseudonym MetaLawMan wrote that 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,” he wrote.
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, replied to the post saying that the legal fees are only a part of the damage.
“Many companies left the United States. Many products and services were never developed or abandoned for fear of regulatory repercussions.”
However, few others have also slammed Trump’s previous administration for charging millions from the crypto industry during his tenure. Shapeshift founder Erik Voorhees noted that his company paid millions during Trump admin.
We paid millions during Trump admin
— Erik Voorhees (@ErikVoorhees) November 5, 2024
Gemini founders Cameron and Tyler Winklevoss slammed President Biden’s policies and regulatory stance in June. They made remarks about his mismanagement of the crypto industry.
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