Gemini co-founder Cameron Winklevoss has reiterated his support for Donald Trump as the U.S. presidential election approaches, urging the crypto community to “choose wisely” at the polls to safeguard the future of the digital asset industry. In a post on X, Winklevoss emphasized the regulatory challenges faced by the crypto sector during the Harris-Biden administration, claiming that the current government has cost the industry $500 million in legal fees.
Winklevoss, along with his twin brother Tyler, has been a vocal advocate for Trump, having donated $1 million in Bitcoin to support his candidacy earlier this year. They believe that Trump, if re-elected, would alleviate the financial burdens imposed on the crypto industry. “Vote Trump and this goes to $0. Vote Harris and this will balloon to $ billions. Choose wisely,” Winklevoss stated, positioning Trump as “pro-Bitcoin, pro-crypto, and pro-business.”
In another tweet, he invoked a famous quote: “First they ignore you, then they laugh at you, then they fight you, then you VOTE, then you win,” highlighting the perceived neglect of the crypto industry by the current administration. His comments have resonated with many in the crypto space, prompting responses from notable figures and legal experts who share his concerns. One legal expert, known as MetaLawMan, argued that the $500 million estimate is likely understated, as it does not account for “extortion payments” made to the SEC by projects unable to withstand prolonged legal battles.
Crypto entrepreneur Wayne Vaughan added that the legal fees represent only part of the damage, noting that many companies have either exited the U.S. market or abandoned product development due to regulatory fears. Conversely, some industry figures criticized Trump’s previous administration, pointing out that it imposed significant financial burdens on the crypto sector during his tenure. The Winklevoss twins have previously criticized President Biden’s handling of crypto regulation, claiming mismanagement of the industry under his leadership.