Brian Armstrong, the CEO of Coinbase, spoke out once again about the election results in the United States and assures that the Democratic defeat was cooked up behind closed doors. According to the businessman, the main people responsible for Kamala Harris’ defeat were Gary Gensler and Elizabeth Warren. He assures that this pair maintained an unjustifiably hostile attitude towards the innovation sector.
For the first time in history, cryptocurrencies were decisive in the presidential election in the main world economy. In that sense, the Democratic Party was unable to make an accurate reading of this changing panorama. Consequently, they acted against cryptocurrencies as if this were the same tiny sector as years ago.
Meanwhile, the Republican Party understood the context perfectly and acted in that direction. This, according to Armstrong, would have been the key to Donald Trump’s overwhelming victory in the presidential elections on November 5. In this way, Gensler and Warren would be the two main culprits for this terrible defeat of the Democrats.
If this scenario is real, then it could be said that Democrats should undertake a complete reform in their vision on innovation, hints the CEO of Coinbase. If he maintains his old positions, returning to the oval office could be more than complicated.
“The Democratic Party should realize that Warren is a liability and distance itself even further if it is to have any hope of rebuilding,” Armstrong wrote in X.
Can confirm this is true. It was one of the most unethical and un-American things that happened in the Biden administration, and my guess is we’ll find Elizabeth Warren’s fingerprints all over it (Biden himself was probably unaware).
We’re still collecting documents via FOIA… https://t.co/2Rda7VU9MT
— Brian Armstrong (@brian_armstrong) November 27, 2024
Coinbase CEO blames Democrats themselves for his defeat
According to the CEO of Coinbase, the ranks of the Democratic Party itself are full of elements that hinder the development of the party. Both Gensler and Warren maintained a rabid attitude against cryptocurrencies and the latter even called for a total ban on these assets in the country.
Meanwhile, Gensler maintained an open war that until the last moments launched lawsuits and punishments against crypto companies. However, his scorched earth policy appears unlikely to be extended, as Gensler announced his resignation from the SEC in January.
In any case, it’s worth keeping in mind that a large portion of the US voting population owns cryptocurrencies. The zero tolerance policy towards the sector of the two aforementioned government figures made an understanding impossible. Ultimately, what could have been different points of view turned into political feuds.
This is what Armstrong is referring to when he states that these two people were decisive in the defeat of Kamala Harris. However, these are not the only factors that prevented the candidate from becoming the first female president in the history of the United States.
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