April 19, 2024
Pro-Crypto Republican Vivek Ramaswamy Suspends Presidential Campaign
Latest Cryptocurrency News

Pro-Crypto Republican Vivek Ramaswamy Ends Presidential Bid

Pro-crypto Republican candidate Vivek Ramaswamy has withdrawn from the United States presidential election race, bringing an end to his nearly year-long campaign. During a press conference in Des Moines, Iowa, on Jan. 16, Ramaswamy informed his followers that he would be suspending his presidential campaign, stating, “As of this moment, we are going to suspend this presidential campaign.”

He emphasized, “There’s no path for me to be the next president absent things that we don’t want to see happen in this country.” Ramaswamy expressed the need for an America-first candidate in the race and announced his support for former President Donald Trump in the upcoming election, stating, “Going forward, he will have my full endorsement for the presidency. We did not achieve the surprise that we wanted to deliver tonight.”

Although initially an unfamiliar figure on the presidential campaign circuit, Ramaswamy quickly gained support from the crypto community due to his outspoken policy proposals regarding Bitcoin and other digital assets. Notably, he was the sole presidential candidate to introduce a crypto policy framework. On Nov. 16, he unveiled ‘The Three Freedoms of Crypto,’ which aimed to shield crypto developers from liability for the actions of users and provide regulatory clarity for new cryptocurrencies. Additionally, the framework sought to prevent federal agencies from imposing rules limiting the use of self-hosted wallets.

On December 6, 2023, Ramaswamy criticized the United States Securities and Exchange Commission and its Chair, Gary Gensler, for their inadequate response to crypto regulation. He described Gensler’s failure to acknowledge Ether as a commodity before Congress as nothing short of embarrassing. Following Ramaswamy’s departure from the presidential race, members of the crypto community paid their respects.

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