Cryptocurrency Proponent Andrew Yang Ends Presidential Bid

Democratic presidential candidate Andrew Yang has withdrawn from the election following a dismal displaying within the New Hampshire major Tuesday.

Yang entered the race in November 2017, centering his marketing campaign round his signature “common fundamental earnings” proposal, which would offer a $1,000 monthly earnings to American grownup. Nonetheless, as a candidate, he additionally created coverage positions across the crypto and broader expertise areas.

Specifically, he advocated for a complete nationwide method to blockchain and crypto, quite than a “hodgepodge” of state and unsure federal rules.

“I believe it’s unfair to people and I believe it’s a transparent emblem of the U.S.’s method, and [customers] ask ‘what the heck,'” he mentioned at CoinDesk’s Consensus 2019. “It’s one factor that they [regulators] come down when there’s clear pointers [but there aren’t in crypto]. So the regulators owe us a point, owe the group a point of readability.”

His marketing campaign drew a considerable amount of assist on social media, with many crypto proponents becoming a member of his #YangGang over the previous two years.

This displaying didn’t translate into assist on the Iowa Caucus, the place he acquired zero state delegates and just one % of the vote, or in New Hampshire, the place he acquired 2.9 % of the vote as of press time, in accordance with The New York Times.

Yang started shedding marketing campaign workers following final week’s Iowa Caucus, earlier than formally shuttering his bid Tuesday night time.

“It’s clear tonight from the numbers that we’re not going to win this race,” he said in his announcement.