On 26 July 2024, Tyler Winklevoss, Co-Founder and CEO of Gemini, voiced strong criticisms of the Biden-Harris Administration’s approach to the crypto industry through a long post on the social media platform X. Winklevoss revealed a recent incident where he and his brother Cameron were initially invited to a crypto round table in Washington, D.C., only to be disinvited after endorsing former President Donald Trump. This event highlighted, in Winklevoss’s view, the administration’s unwillingness to engage sincerely with the crypto community.
Disinvitation and Its Implications
Winklevoss recounted how the White House disinvited them from a crypto round table, which they were originally invited to attend. This decision came two weeks after they publicly endorsed Donald Trump. According to Winklevoss, the administration stated that they would not attend the event if the Winklevoss twins were present. He argued that such actions reflect a broader unwillingness to engage with critical voices within the industry. By excluding dissenting opinions, the administration is accused of creating an echo chamber rather than facilitating genuine dialogue.
Accusations of Partisan Behavior
The disinvitation was seen as a move that unnecessarily politicizes the crypto industry. Winklevoss argued that excluding critics based on their political endorsements contributes to a partisan divide. He questioned who within the White House made the decision to disinvite them, suggesting that President Biden might not have been directly involved or even aware of the event. This, Winklevoss noted, raises concerns about who is truly in charge of such decisions and whether there is a coherent strategy for engaging with the crypto sector.
Missed Opportunities for Engagement
Winklevoss pointed out that the Biden-Harris Administration missed an opportunity to reset its relationship with the crypto industry. Despite feeling stonewalled over the past four years, the crypto community extended an invitation to Vice President Kamala Harris to speak at a significant industry event in Nashville. However, Harris declined the invitation, which Winklevoss interpreted as a continued lack of genuine engagement. He speculated that Harris might have been prevented from attending by the same people who control the administration’s approach to crypto.
Call for Concrete Actions
Winklevoss stressed the need for concrete actions from the administration to rebuild trust with the crypto industry. He called for transparency regarding who will be the next chair of the SEC before the upcoming elections, viewing this as essential for fostering a bipartisan approach to crypto regulation. Winklevoss emphasized that the industry should demand clear commitments and actions from political leaders to avoid a repeat of the last four years, which he described as marked by hostility towards crypto.
Vision for the Future
Looking ahead, Winklevoss expressed a desire for a future where crypto is so universally accepted that it no longer serves as a campaign issue. He envisions a time when politicians do not need to attend crypto conferences because the technology has become an integral and uncontroversial part of society, much like the internet or email. This acceptance, he believes, would allow industry leaders to focus on building and innovating without being bogged down by political battles.
Urgent Call to Action
Winklevoss concluded by urging the Biden-Harris Administration to take tangible steps to unwind what he described as four years of terror against the crypto industry. With less than 101 days left before the November elections, he stressed that the administration has limited time to demonstrate a genuine commitment to treating the industry fairly. The ball, as he put it, is in their court to make amends and show that they are ready to support the growth and success of the crypto sector in America.
