Cameron and Tyler Winklevoss are betting big on Donald Trump for the 2024 U.S. Presidential elections, each donating $1 million in Bitcoin to his campaign. On June 20, the twins made it clear through a statement on Twitter that they see Trump as the leader who aligns with their vision for cryptocurrency’s future in America.
Tyler Winklevoss said, “President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice. This isn’t even up for debate.” He blasted those opposing this view as either “severely misinformed, delusional, or not telling the truth.”
In a detailed explanation, Tyler outlined how the Biden Administration has manipulated federal agencies to stifle the crypto industry. Describing it as an “unprecedented abuse of power,” he accused the administration of using these agencies to harass and intimidate the industry under the guise of regulation. He referred to the strategy as Operation Choke Point 2.0, where financial institutions receive behind-the-scenes orders to exclude crypto companies.
Tyler grimly described the tactics used: “That’s a nice bank you got there. It sure would be a shame if something were to happen to it because you bank some crypto folks.” This scenario, he claims, forces banks to comply or face severe consequences, including invasive audits and debilitating fines that could cripple their operations.
Further criticism was directed towards the Securities and Exchange Commission (SEC), which Tyler accuses of deliberately avoiding the creation of new regulatory frameworks for cryptocurrencies. This, he argues, allows the SEC to exploit outdated rules to control and potentially destroy the crypto market. He highlighted the absurdity of treating cryptocurrencies like traditional securities, which could undermine their utility and hinder the development of a decentralized future.
Related: Trump Wants to Use Bitcoin to Save U.S. Economy
Tyler used the example of Ether to showcase the regulatory absurdities: “If Ether is a security, then sending it to a friend from your smartphone would break the law unless you’re a broker-dealer.” He believes the SEC is fully aware of the damaging implications of these regulations but proceeds anyway, aiming to suffocate the industry.
The entrepreneur depicted a vision of America where free enterprise and innovation are championed without government overreach. His passion for a thriving crypto market free from undue governmental influence is clear as he vows to fight against what he sees as a targeted attack on the industry.
Jai Hamid
From Zero to Web3 Pro: Your 90-Day Career Launch Plan
