Uniswap Labs CEO Hayden Adams is cautioning Democrats about the potential consequences of their anti-crypto stance in the upcoming November 2024 US presidential election. Adams, the creator of the decentralized crypto exchange Uniswap (UNI), has shared his thoughts with his 286,100 followers on the social media platform X, stating that Democrats are making a political error when it comes to digital assets. He draws a parallel between US Senator Elizabeth Warren (D-Massachusetts) and the US Securities and Exchange Commission (SEC)’s attacks on crypto, likening it to a misstep made by Hillary Clinton during her unsuccessful 2016 presidential campaign.
Adams believes that the Biden camp’s belief that crypto will be irrelevant in the 2024 election, combined with the SEC and Warren’s aggressive approach towards it, could have significant consequences in terms of both voters and financial support. He warns that Republicans are capitalizing on this situation and are increasingly embracing crypto, leaving little time for President Biden to intervene. Adams suggests that those close to Biden and Democratic leadership should emphasize the seriousness of the situation and advocate for an immediate change in approach to crypto, including garnering public support, establishing a clear plan, and reining in the SEC and Warren.
The Chamber of Digital Commerce recently accused Warren of attempting to destroy the entire crypto industry with her proposed Digital Asset Anti-Money Laundering Act. The stakes are high as Biden prepares to face off against Republican nominee Donald Trump in the November 2024 presidential election. Trump, who has expressed his support for crypto, accuses Biden and SEC Chairman Gary Gensler of being anti-digital assets.
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