- Gemini co-founder says industry shouldn't tolerate four more years of SEC policies.
- Winklevoss says he was disinvited from Washington meeting after endorsing Trump.
Crypto exchange Gemini co-founder Tyler Winklevoss said in a post on X that the crypto industry should demand to know who would be the next chair of the US Securities and Exchange Commission before the November elections.
He said that a repeat of the last four years should not be tolerated by the industry.
“We need to see tangible change and a proof of commitment to treating our industry fairly and dealing with it in good faith going forward,” Winklevoss wrote. The story was first reported by Cointelegraph.
The SEC, led by chair Gary Gensler, has fired off a barrage of enforcement actions against crypto companies in recent years, suing the likes of Binance, Coinbase, and Kraken, DL News has reported. Crypto pundits have complained that the agency regulates by enforcement, creating a hostile environment in the US for the industry.
Winklevoss noted in the post that he and his twin brother Cameron had been invited to a crypto roundtable in Washington DC in June, then disinvited weeks later after publicly endorsing former President Donald Trump.
The Winklevoss twins also contributed to Trump’s campaign, each giving more than $1 million in Bitcoin, CNBC reported. The donations were partially refunded because they exceeded a limit of $844,600.
In June, the state of New York recovered $50 million in digital assets from Gemini in a settlement for investors defrauded by its Gemini Earn program, while also banning the platform from crypto lending, DL News reported.
