Pro-Crypto Candidate Vivek Ramaswamy Drops Out of Presidential Race

Vivek Ramaswamy, a pro-cryptocurrency Republican candidate for the 2024 United States presidential elections, has officially dropped out of the race and is now supporting Donald Trump, a major competitor to the current president, Joe Biden. 

Ramaswamy promised Bitcoin-friendly laws in the US during his campaign prior to ending it, which lasted almost a whole year. 

Vivek Ramaswamy Drops Out of Race

While talking about his campaign at a January 16 press conference in Des Moines, Iowa, Vivek Ramaswamy confirmed that he would no longer be running for president of the United States. 

“As of this moment, we are going to suspend this presidential campaign,” he said, while adding: 

“There’s no path for me to be the next president absent things that we don’t want to see happen in this country.”

Support for Donald Trump

Vivek Ramaswamy officially supported Donald Trump, the former president of the United States, stating, “There needs to be an America first candidate in this race.”

“Going forward, he will have my full endorsement for the presidency. We did not achieve the surprise that we wanted to deliver tonight,” the former candidate stated.

Crypto-Friendly Policies

Vivek Ramaswamy officially declared his candidacy recently, quickly gathering attention from the digital asset sector for his pro-crypto policies. He rained heavily on United States Securities and Exchange Commission (SEC) Chair Gary Gensler and other “three-letter agencies” for his anti-crypto policies. 

The American entrepreneur and politician said it was “nothing short of embarrassing” that Gensler could not admit in front of Congress that Ether (ETH) should be considered a commodity. 

As reported earlier, Ramaswamy stated that he would accept payments in Bitcoin (BTC), the world’s largest digital currency by market capitalization.

Elon Musk Praises Vivek Ramaswamy

Elon Musk, the founder of Tesla, openly came out in support of Vivek Ramaswamy, stating, “He is a very promising candidate.” 

It is important to note that Musk has also called for a complete overhaul of the SEC and the Department of Justice (DOJ), like Ramaswamy.