As a seasoned crypto investor with over a decade of experience in this dynamic market, I can’t help but be alarmed by the recent warnings from industry insiders like Cameron Winklevoss and his twin brother Tyler about the potential threats to our sector from US Vice President Kamala Harris and her advisors.
As a crypto industry analyst, I’d like to share some insight based on recent developments. The co-founder of Gemini exchange, Cameron Winklevoss, has raised concerns about potential regulatory actions. He alleges that US Vice President Kamala Harris and her advisor are attempting to restructure the cryptocurrency sector through vague promises rather than substantive changes.
In a recent post on X, Cameron Winklevoss called upon the US Vice President Harris to take immediate and tangible steps to mitigate the harm inflicted on the cryptocurrency sector during the past four years. To demonstrate her commitment to this industry, he suggested that Harris consider taking bold measures – such as dismissing SEC Chair Gary Gensler – prior to November 2024.
As someone who has spent years working in the financial sector and observing the crypto industry from a distance, I believe it’s important for Vice President Harris and her team to approach this “reset” with caution. While I respect the Vice President’s time and commitment to addressing pressing issues, I urge her not to engage unless she is fully prepared to take decisive action.
— Cameron Winklevoss (@cameron) July 29, 2024
The Gemini co-founder echoed the sentiments of former President Donald Trump expressed at the Bitcoin Conference. He emphasized that individuals in the crypto industry are intellectually astute and not easily deceived by empty promises or manipulation. According to him, Harris and their peers would only respond to tangible actions.
Previously, Tyler Winklevoss, Cameron’s twin brother, made similar remarks. He emphasized that empty promises without concrete actions are meaningless. Harris could demonstrate her commitment by dismissing Gary Gensler, halting all SEC crackdowns on ethical actors, and terminating Operation Choke Point 2.0. Tyler stated that if the vice president fails to do so, she will lose the support of the crypto sector voters.
“Cheap words don’t mean much. To regain the support of the crypto community, she should take swift action by dismissing Gary Gensler, halting all enforcement actions against innocent actors, and discontinuing Operation Chokepoint 2.0. However, if she fails to make these changes, her chances of winning back this voting bloc will be slim.”
Caitlin Long, the founder of Custodia Bank, concurred with Winklevoss’ viewpoint. According to her, Harris should dismiss the individuals responsible for “Operation Choke 2.0” since Gensler is only a part of the issue. She emphasized that those driving the regulations need to be held accountable.
As a seasoned financial regulatory compliance expert with over two decades of experience, I strongly believe that those directly involved in the instigation and execution of OperationChokePoint2.0 should be held accountable for their actions. Gensler is just one name, but there are three other individuals who have been working covertly to debank law-abiding companies within this industry. Their insidious efforts must not go unchecked. These individuals have the power to significantly impact people’s livelihoods and businesses, often without proper due process or transparency. It is crucial that those responsible for such actions are identified and removed from their positions to prevent further harm.
BTC to Drop to 50,000 if Kamala Wins
Trump’s endorsement of Bitcoin has fueled speculation among some that the price of the leading cryptocurrency could reach $100,000 by the end of the year if he wins the presidential election. However, according to Jonah, a crypto analyst with over 14k followers on social media, the outlook for Bitcoin would be quite different should Harris emerge as the winner. In this scenario, Jonah predicts that Bitcoin’s price could drop down to $50,000.
“Kamala’s ascent is dampening the Bitcoin market. Should she emerge victorious, the cryptocurrency may end the year below $50,000. Her growing influence is the reason your investments aren’t surging yet, despite a generally favorable market condition.”
At Bitcoin24, ex-President Donald Trump reiterated his backing for cryptocurrencies by proposing to transform the United States into the global leader in crypto and establish Bitcoin as a dominant force worldwide. As a token of appreciation from the Bitcoin community, David Bailey, CEO of Bitcoin Magazine, presented him with 1 BTC as a donation.
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2024-07-29 14:14