The post Trump winning war for ‘crypto’ votes as Biden’s ‘pivot’ greeted with skepticism appeared on BitcoinEthereumNews.com.

‘Crypto’ operators are pushing hard to make their sector a key consideration in the 2024 U.S. election cycle, spending big to try to ensure lighter-touch regulation and lower taxes. On June 20, Tyler Winklevoss—who, along with his twin brother, Cameron, runs the Gemini digital asset exchange—issued a novel-length tweet detailing how he had donated $1 million in BTC to Donald Trump’s presidential campaign. Cameron issued a similar tweet celebrating his own $1 million donation, along with pledges by both brothers that they’d be voting for the short-fingered vulgarian come November. Predictably, the Winklevii failed to recognize that their donations exceeded the $844,600 maximum that individuals are allowed to contribute under federal campaign financing laws. Bloomberg reported that the Trump campaign returned the excess funds, which the twins will hopefully spend on legal advice next time they engage in this type of ‘ready-fire-aim’ activism. Tyler’s novel described the brothers’ decisions as based on their dislike of the alleged “weaponization of the banking system against crypto companies and their principals.” This is a reference to right-wing crypto bros’ evidence-light belief in something called Operation Choke Point 2.0, which has about as much heft to it as some other Trump fans’ belief in something called ‘aviation flu.’ Tyler also attacks “the weaponization of the Securities and Exchange Commission (SEC) against crypto.” This claim has little more validity, as SEC chair Gary Gensler has indeed shown little tolerance for crypto operators’ grifting, including Gemini’s, which led to the SEC filing charges for offering unregistered securities. (Said weaponization apparently extends beyond the federal government. On June 14, New York Attorney General Letitia James announced that her office had recovered around $50 million from the Winklevii’s Gemini Trust Company to compensate some of the 230,000 investors she said were “swindled by Gemini through its bogus Earn…

---

Filed under: News - @ June 24, 2024 12:10 pm