Here is the outline for today’s newsletter🔥

• Winklevoss Twins says “war on crypto” will hurt Democrats’ election👀

• Polygon, Solana, and Cardano stabilize 💵

• a16z Crypto is expanding to the UK ✈️

Winklevoss Twins says “war on crypto” will hurt Democrats’ election👀

The Winklevoss Twins, known for their involvement in the crypto space as co-founders of the Gemini exchange, have issued a warning about the potential consequences of the "War on Crypto."

They express concern that the regulatory actions taken by prominent figures such as Senator Elizabeth Warren and SEC Chairman Gary Gensler against the cryptocurrency industry could have negative effects on the Democratic party.

The twins argue that such actions may alienate Millennials and Gen Z, leading to lost votes in the upcoming election cycle.

Highlighting the significance of the issue, the Winklevoss Twins suggest that crypto has already gained substantial popularity among the younger generations.

Consequently, regulatory measures that impede or restrict the growth of the crypto industry may be met with strong opposition from these demographic groups.

The Winklevoss Twins express their concerns that the actions taken by Senator Warren and Chairman Gary Gensler could lead to value destruction and backlash from the crypto community.

They warn that such outcomes could have an impact on the 2024 election, further emphasizing the potential consequences of regulatory measures on the political landscape.

Polygon, Solana & Cardano stabilizes💵

Solana (SOL) has shown a 2.2% increase in value, Cardano (ADA) experienced a 3.5% rise, and Polygon (MATIC) saw a notable surge of 5.5% over the past 24 hours.

These positive price movements indicate potential upward trends for these cryptocurrencies, which may attract investor attention.

In response to the allegations made by the U.S. Securities and Exchange Commission (SEC), the development foundations behind Solana (SOL), Cardano (ADA), and Polygon (MATIC) have released statements countering the SEC's claims.

These statements aim to reassure investors and maintain confidence in the projects, particularly amidst the regulatory challenges they currently face.

The SEC's accusations against major crypto exchanges, Binance and Coinbase, for various charges related to unlicensed securities, have raised concerns within the crypto industry.

The outcome of these allegations could have broader implications for regulatory scrutiny and compliance measures for both exchanges and other participants in the crypto market.

A sudden sell-off over the weekend resulted in significant price declines for SOL, ADA, and MATIC. These tokens experienced drops of up to 30% within a short period.

However, it is worth noting that Bitcoin (BTC) and Ethereum (ETH) exhibited relatively better resilience, with smaller declines compared to the tokens directly affected by the SEC filings.

a16z crypto is expanding to the UK ✈️

Andreessen Horowitz's crypto investment arm, a16z crypto, is expanding its operations by opening its first overseas office in London, United Kingdom.

This strategic decision is driven by the UK's well-defined regulatory regime and its support for blockchain technology and digital asset regulation.

The move comes in response to a16z crypto's report on the decline of crypto-related activity in the United States and the pressing need for regulatory clarity in the industry.

I guess everyone is feeling that way in the US right now.

By establishing a presence in London, a16z crypto aims to foster the growth of the crypto and startup ecosystem in the UK and Europe.

Sriram Krishnan, a general partner of the investment arm, has been appointed to lead the London office, bringing his expertise and experience to further the company's objectives in the region.

As part of its commitment to supporting the crypto community, a16z Crypto plans to conduct its next Crypto Startup School in London and collaborate with blockchain clubs at universities across the UK.

These initiatives aim to provide education, resources, and networking opportunities to aspiring entrepreneurs and developers in the crypto space.

While expanding internationally, a16z crypto remains dedicated to its engagement with policymakers and regulators in the United States. The company is actively working towards achieving more regulatory clarity in collaboration with relevant stakeholders.

According to a16z crypto, decentralization is a fundamental pillar for the growth and success of the crypto industry. They recognize the transformative potential of web3 and emphasize the importance of decentralized infrastructure for long-term sustainability and innovation.

In other news, Gensyn AI, a UK-based machine learning company, recently secured $43 million in Series A funding, with a16z crypto leading the investment round.

Looks like a16z is leaping into the Web3 industry!

✨Bonus News✨

Disclaimer: This is not any kind of financial advice. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your study, please.