Y Combinator co-founder Paul Graham warned the Democratic Party that the growing influence of Senator Elizabeth Warren represents a “massive own goal.” According to Graham, the aggressive anti-crypto agenda pushed by the lawmaker is causing a massive alienation of tech founders and innovators from Silicon Valley, who traditionally supported this political sector.
Warren's war on crypto was a pure own-goal by the Democrats. It achieved nothing, and it cost them enormously by alienating a large fraction of a powerful group who'd previously supported them. Look at the change from 2020 to 2024. pic.twitter.com/FOrvWQ8lJn
— Paul Graham (@paulg) May 25, 2026
Concern among tech executives and moderate Democrats is growing as potential 2028 presidential contenders seek Warren’s endorsement. The entrepreneur emphasized that the senator’s pressure to appoint key figures, such as former SEC Chair Gary Gensler, unleashed an aggressive regulation-by-enforcement campaign that ultimately pushed a powerful fraction of the ecosystem toward funding Republican campaigns.
The internal debate adds fuel to the fire regarding the regulatory direction of digital assets in the US. From now on, the sector must monitor how these political tensions influence the development of bipartisan crypto legislation ahead of upcoming election cycles.
Source: https://x.com/paulg/status/2058866401016742339
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