No Point 'Fighting Against The Tide' By Opposing Zohran Mamdani, Says Gemini Co-Founder Cameron Winklevoss: 'Things Will Have To Get Worse In NYC Before They Get Better'

Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, showed reluctance Wednesday to support a candidate against Zohran Mamdani in the New York City mayoral race, suggesting that the city must “learn the hard way” the consequences of Marxist and socialist ideologies.

What happened: In a heavily worded post on X, Winklevoss, whose company is headquartered in “The Big Apple,” noted the city's apparent willingness to embrace "anarchy and socialism."

"It’s what the people of NYC have been asking for for years and it looks like it’s what they are about to get. Trying to fight against this tide seems like throwing good money after bad," he said.

Winklevoss said the younger generation of New Yorkers is unaware of the historical failures of socialism and Marxism. 

He drew attention to the crack and crime epidemic of the late 1980s and early 1990s, which was high during Mayor Edward I. Koch’s years and peaked during Mayor David Dinkins’s administration. He blamed the complacency of rich New Yorkers of Wall Street and their failure to counter ideological shifts.

"It appears things will have to get worse in NYC before they get better," Winklevoss remarked. "Sometimes the only way to learn something is to learn it the hard way."

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Why It Matters: Mamdani, the 33-year-old progressive state representative, emerged victorious in the New York City Democratic mayoral primary after former Governor Andrew Cuomo conceded defeat.

His victory has sparked strong political reactions. While President Donald Trump dubbed his elevation as emblematic of the radical left taking over the Democratic Party, Sen. Elizabeth Warren (D-Mass.) said Mamdani's focus on public welfare would make life affordable for New Yorkers.

If elected, Mamdani would become New York's first Muslim mayor, marking a historic shift in America's financial capital.

Photo Courtesy: Ron Adar on Shutterstock.com

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