Uniswap CEO Urges Biden to Rethink Crypto Policies
Hayden Adams, the founder and CEO of decentralized exchange Uniswap, has issued a stark warning to United States President Joe Biden, urging him to reconsider his administration’s approach to cryptocurrency policies.
The Warning from Uniswap’s CEO
- Adams warns that Biden’s crypto policies could hurt his chances for re-election in November 2024.
- Adams criticizes Biden for allowing Senator Elizabeth Warren and the SEC to “wage total war” on crypto.
- He suggests that assuming crypto will be irrelevant in the upcoming elections is a “miscalculation.”
- Republican candidates are gaining attention for their support of the crypto industry.
Adams suggests that by allowing Senator Elizabeth Warren and the U.S. Securities and Exchange Commission (SEC) to target the technology, President Biden risks alienating a significant portion of the electorate.
“Republicans smell blood in the water and are turning hard towards crypto,” wrote Adams, highlighting the growing support for the industry among Republican candidates.
Adams urges those close to President Biden to convey the severity of the situation and push for an immediate change in the administration’s stance on crypto.
Biden’s Stance on Crypto
- Biden has taken a tough stance against the crypto sector since taking office in 2021.
- He signed an executive order in 2022 citing the Terra crash and insolvencies as reasons to responsibly harness the potential of crypto.
- Under SEC Chair Gary Gensler, enforcement actions against crypto firms have increased.
As the November elections approach, experts predict that crypto voters may have a significant impact on the outcome. Billionaire investor and crypto advocate Mark Cuban has criticized Biden’s crypto policies, suggesting they could harm his re-election prospects.
Mark Cuban stated, “If @joebiden loses, there is a good chance you will be able to thank @GaryGensler and the @NewYork_SEC.”
Republican Support for Crypto
- Republican candidates have been actively courting the crypto community.
- Former President and current Republican candidate Donald Trump has expressed support for crypto.
Adams’ warning comes at a critical juncture for both the crypto industry and U.S. politics, with a significant percentage of U.S. adults owning cryptocurrencies, indicating the growing influence of digital assets.
Adams tweeted, “Imagine risking losing control of the most powerful nation in human history” due to regulatory actions against “internet money” that a substantial portion of the population already owns.
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