Key Takeaways

• Hoskinson and Winklevoss criticized the Biden-Harris administration’s actions against the crypto industry, warning that a Harris presidency could further harm the sector.
• The Democrats reportedly launched a new campaign to win support from crypto voters and strengthen Harris’s campaign.

Charles Hoskinson, the founder of Cardano, warned that voting for Kamala Harris in the upcoming presidential election is voting against the interests of the US crypto industry. He believes the Biden-Harris administration’s perceived hostility toward cryptocurrency is intensifying, with no signs of improvement or a “reset” in their approach.

“As I have repeatedly said, the Biden-Harris Whitehouse has a war on crypto. There appears to be no reset. In fact, it appears to be even worse now. A vote for Harris is a vote against the American Crypto industry,” Hoskinson said in a recent post on X.

Hoskinson’s statement was a response to Tyler Winklevoss’ critical remarks against a recent move by the Federal Reserve (Fed) against Customers Bank, the principal subsidiary of Customers Bancorp and a known crypto-friendly bank.Winklevoss asserted the Fed’s enforcement action against Customers Bank lacked concrete evidence supporting the claimed deficiencies in risk management and compliance with anti-money laundering (AML) regulations.He added that the 30-day advance notice requirement for new crypto banking relationships as an outcome of the case was a veiled attempt to increase control over the banking industry, particularly in its relationship with the crypto sector.Winklevoss added that even though Customers Bank can get the Fed’s approval to bank crypto companies, it is unclear whether the central bank will disclose the numbers to the public. According to him, if Harris wins, the number of crypto companies that are approved could be next to zero, if not zero.

“And make no mistake, this enforcement action is the Fed playing nice with nerf guns. It’s just the table setting. Not even the appetizer. The Fed is on its best behavior at the moment because the election is around the corner. If Harris wins in November, the gloves will come off,” he stated.

Back when President Joe Biden still stayed in the 2024 race, Winklevoss and Hoskinson warned that voting for Biden would harm the American crypto industry.With Biden’s torch now passed to Harris, her campaign team is ramping up efforts to counteract Donald Trump’s growing appeal among crypto supporters. Trump has presented himself as a “pro-crypto” nominee, repeatedly voicing support for Bitcoin and the crypto industry.Earlier this week, the Democrats reportedly set up a new initiative called “Crypto for Harris” to secure the support of crypto voters and bolster Harris’s campaign. A number of reports in the last few weeks also indicated that Harris’s team reached out to crypto firms in a bid to “reset” their relationship with the industry.

A praise for KennedyIn a separate statement, Hoskinson voiced his support for Robert F. Kennedy Jr., the US presidential candidate who will join him in a firechat at Rare Evo’s blockchain event next Saturday.

“Kennedy is one of the brightest and highest integrity candidates to run for the presidency of my generation,” he said.

Kennedy is a vocal Bitcoin supporter with a strong belief in its role in promoting financial freedom and transactional liberty. He previously disclosed investing around $250,000 million worth of Bitcoin.Apart from his investment, Kennedy also proposed a plan for the US to acquire enough Bitcoin to match the value of the nation’s gold reserves, amounting to around 9.4 million BTC. He believes this would position the US as the largest Bitcoin holder worldwide.