US Presidential Race Narrows Down to Two Pro-Crypto Candidates
Summary:
Following the departure of pro-crypto candidates Vivek Ramaswamy and Ron DeSantis from the US presidential race, the field is left with two openly crypto-supportive contenders: Democrat Dean Phillips and Independent Robert F. Kennedy Jr. Amid this, there's speculation around former President Donald Trump potentially adopting a crypto-friendly approach. However, Trump's stance remains uncertain despite his involvement with non-fungible tokens (NFTs). The presidential race currently sees Trump and President Joe Biden as the frontrunners.
With Vivek Ramaswamy and Ron DeSantis stepping out of the US presidential race recently, only a couple of candidates openly supporting cryptocurrencies remain in the fray. There is, however, a sliver of hope that former President Donald Trump might end up being a friendly figure for the crypto industry. DeSantis, a politician from the Republican party, and an adversary to the concept of central bank digital currencies (CBDCs), recently retreated from his presidential campaign, admitting that he saw no clear path to victory and expressed his support for Trump, the front-runner for the GOP. Before that, on January 16th, Vivek Ramaswamy, a vocal pro-cryptocurrency GOP candidate also withdrew his candidacy and endorsed Trump.
Their farewell implies that Dean Phillips, a Democratic candidate, and independent candidate Robert F. Kennedy Jr, both having publicly supported crypto, are the only contenders left in the race. Phillips, a relatively lesser-known congressman from Minnesota, had stated in a December crypto-focused forum that neither Trump nor President Joe Biden seemed fit to take charge of crypto matters, and emphasized that the US should not impede innovation.
Robert F. Kennedy, at the same time, is distinguished as the first-ever presidential candidate to accept Bitcoin for campaign contributions. He has made numerous pro-crypto commitments, including a promise to back the US dollar with Bitcoin.
However, Dean Phillips' probability of securing the seat of president is perceived to be nominal since he trails significantly behind Biden, who is a leading candidate for the Democrats. Kennedy, meanwhile, is trying for a place on the state ballots and declared on January 16th that he had filed papers to create his party in six states to ease the process of getting on the ballots.
Meanwhile, there is a slight optimism that Donald Trump could favor crypto, though there have been skeptical comments about this. On January 17th, Trump declared his resolve to outright refuse the creation of a CBDC. But the former president's stance on crypto remains debatable, as per the founder and CEO of the crypto advocacy group, the Chamber of Digital Commerce, Perianne Boring. She notes, though, that Trump’s active involvement in non-fungible tokens (NFTs) indicates a possible shift in his view on cryptocurrencies.
In early January, House Majority Whip Tom Emmer stated that if Trump were to return to office, he would be much more supportive towards the crypto industry. According to the aggregate polling by 538, the race majorly lies between Trump and Biden who are the top candidates of their respective parties, with Trump leading slightly in the national polls.
Published At
1/22/2024 7:17:54 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.