Crypto Advocates Round on Democrats’ ‘Crypto Crash’ Message
Democratic Party leaders faced sharp criticism from crypto industry figures after posting a "yikes" message alongside a chart highlighting recent Bitcoin losses and an image of Donald Trump. The tweet coincided with Bitcoin's 8.1% daily drop to $65,729—down over 33% from a year earlier—and liquidations totaling $2.6 billion across the crypto market. Industry leaders—including Custodia Bank CEO Caitlin Long and Gemini co-founder Tyler Winklevoss—condemned the post as dismissive of real financial losses affecting Americans across the political spectrum. Critics argued that mocking the crash risks alienating pro-crypto voters, particularly ahead of midterms. The controversy highlights growing partisan divides over crypto regulation and policy, with Democrats frequently associating Trump and his allies with crypto-related scandals and calling out potential conflicts of interest due to the Trump family’s substantial financial gains in digital assets. Tensions have also been fueled by ongoing investigations into crypto-related investments linked to Trump. Some critics also blamed wider economic mismanagement by both parties for driving interest in crypto as an alternative.
