Republican presidential candidate Vivek Ramaswamy, who was one of the only candidates with a specific cryptocurrency plan and had some support from cryptocurrency executives, is out of the race.
Ramaswamy announced the suspension of his candidacy late Monday following the results of the caucus in Iowa.
“People spoke loud and clear about who they want,” Ramaswamy posted Monday night on Channel X. He added: “Tonight I will suspend my campaign and endorse Donald J. Trump and do everything in my power to make sure he is the next president of the United States.” “I am so proud of this team, this movement, and our country.”
According to reports, former President Donald Trump won the caucus, followed by Florida Governor Ron DeSantis and former UN Ambassador Nikki Haley.
Encryption support
Ramaswamy has received some support from cryptocurrency supporters over the past year, including Messari CEO Ryan Selkis.
“Vivek is now the most influential liberal in the country. He is pro-crypto. Trump knows he is an asset,” Selkis to publish On X in response to Ramaswamy's withdrawal from the race.
Trump has not publicly announced who he will choose as his running mate if he wins the nomination. Trump has dabbled in NFTs, release A batch of 45,000 of them in December 2022. A year later, Trump Another revealed A set of digital trading cards that give fans the chance to get perks like having dinner with the former president, or grabbing a piece of the suit he was wearing when he was seized by Georgia police after he was indicted in August.
Ramaswamy's position
Cryptocurrencies have been floated several times by Republican presidential candidates over the past year. Ramaswamy said last month that his plan would partially prevent regulation of self-hosted wallets and allow “the freedom to innovate without bypassing regulation.” Meanwhile, Republican presidential candidate Ron DeSantis, as governor of Florida, banned the use of central bank digital currencies in his state in May.
Ramaswamy also criticized SEC Chairman Gary Gensler during a debate last month. The SEC chief has been firm in his stance that many cryptocurrencies are securities and need to follow securities laws, while urging cryptocurrency exchanges to register with his agency.
“I think it is nothing short of embarrassing that Gary Gensler, the current Chairman of the SEC, before Congress could not even say whether Ethereum is considered a regulated security or not,” Ramaswamy said during the discussion. “This is just another example of administrative overreach.”
Disclaimer: The Block is an independent media outlet that provides news, research and data. As of November 2023, Foresight Ventures is the majority investor in The Block. Foresight Ventures is investing in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is a core program of Foresight Ventures. The Block continues to work independently to provide objective, influential and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
