Pro-crypto Vivek Ramaswamy Drops Out of US President Race
16 Jan, 2024 ● Crypto News
Crypto-friendly Republican candidate Vivek Ramaswamy has exited the race for the U.S. presidency, concluding his campaign that lasted almost a year.
At a press conference on January 16 in Des Moines, Iowa, Ramaswamy announced to his supporters his decision to withdraw from the presidential race, declaring: “As of this moment, we are going to suspend this presidential campaign.”
He acknowledged that there was no feasible route for him to become president without undesirable developments in the country.
Ramaswamy expressed the need for a candidate who prioritizes America's interests, announcing his support for former President Donald Trump in the forthcoming election.
He stated, “Going forward, he will have my full endorsement for the presidency. We did not achieve the surprise that we wanted to deliver tonight.”
Ramaswamy, initially not well-known in the political arena, gained recognition among cryptocurrency enthusiasts for his bold policy ideas concerning Bitcoin and other cryptocurrencies.
He was the sole presidential contender to propose a specific framework for cryptocurrency regulation.
On November 16, he presented “The Three Freedoms of Crypto,” which aimed to shield crypto developers from liability for users' actions with their code.
His policy also intended to establish definite regulatory standards for new cryptocurrencies and block any federal agency from imposing restrictions on the use of self-hosted wallets.
On December 6, 2023, Ramaswamy criticized the U.S. Securities and Exchange Commission and its Chair, Gary Gensler, for their lack of progress in crypto regulation.
He found it “nothing short of embarrassing” that Gensler couldn’t acknowledge to Congress that Ether should be classified as a commodity.
Following his campaign withdrawal, the crypto community expressed their admiration and respect for Ramaswamy. Nic Carter, a general partner at Castle Island Ventures, commended him as the “most talented” Republican candidate of his generation.
Sources:
https://cointelegraph.com/news/vivek-ramaswamy-drops-out-us-presidential-race-pro-crypto-candidate
https://twitter.com/VivekGRamaswamy/status/1747111434314784961
