Crypto Critic Joe Biden to Step Down as Democratic Presidential Nominee
Newsmax reported that President Joe Biden will step down as the Democratic presidential nominee, with an announcement expected this weekend. Biden will serve out his term but will not endorse Vice President Kamala Harris as his successor.
Joe Biden is the current American president & during his presidency, he showed a very critical stance on cryptocurrencies. His administration implemented stringent regulations and policies aimed at curbing the growth and adoption of digital assets, often drawing criticism from the crypto community.
According to a latest report by Newsmax, current US President Joe Biden has agreed to step down as the Democratic presidential nominee, with the announcement expected as early as this weekend. Biden will likely continue as president until his term ends but will not endorse Vice President Kamala Harris as his successor. Newsmax cites multiple Democratic sources, though the information is not yet confirmed.
Many experts noted that the decision by Joe Biden, known for his critical stance on cryptocurrencies, to step down from the next US presidential election could create positive momentum for the crypto sector. With former President Donald Trump, who has expressed pro-crypto views, actively campaigning for support, the crypto community might see this as an opportunity for more favourable regulatory conditions and broader adoption of digital assets in the US. However, the actual impact will depend on various factors, including the overall political climate and the policies of other candidates.
Trump, Crypto, & Support
Notably, Donald Trump is receiving substantial support from the American population for the upcoming 2024 US presidential election. He is also garnering significant backing from the crypto community due to his pro-crypto views.
Recently, Vitalik Buterin, a popular crypto entrepreneur and co-founder of the Ethereum blockchain, advised people to think more critically before voting for newly emerging politicians who are claiming a pro-crypto stance.
Messari founder Ryan Selkis recently posted a series of extreme remarks on X (Twitter) supporting Donald Trump. Selkis expressed hopes that green card holders would be “sent back” and criticised Ethereum co-founder Vitalik Buterin, calling him the most naive and useless political commentator. These comments have sparked significant controversy within the crypto community.
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