Crypto-friendly Vivek Ramaswamy is out of the U.S. presidential race
Quick Take Ahead of the Iowa caucus on Monday night, crypto advocates such as Messari CEO Ryan Selkis said he would be “pretty depressed tonight if Vivek comes in fourth.” In the Republican contest, former President Donald Trump clenched a win, followed by Florida Governor Ron DeSantis and former U.N. Ambassador Nikki Haley, with Ramaswamy coming in fourth, according to reports.
Republican presidential candidate Vivek Ramaswamy, who was one of the only candidates to have a designated crypto plan and garnered some support from crypto executives, is out of the race.
Ramaswamy announced the suspension of his candidacy late on Monday following results from the Iowa caucus.
"The people spoke loud clear about who they want," Ramaswamy posted on Monday night on X. "Tonight I am suspending my campaign and endorsing Donald J. Trump and will do everything I can to make sure he is the next U.S. President. I am enormously proud of this team, this movement, and our country."
Former President Donald Trump clenched a win in the caucus and was followed by Florida Governor Ron DeSantis and former U.N. Ambassador Nikki Haley, according to reports.
Crypto support
Ramaswamy had garnered some support from crypto advocates over the past year, including Messari CEO Ryan Selkis.
"Vivek is now the most influential libertarian in the country. And he’s pro crypto. Trump knows he’s an asset," Selkis posted on X in response to Ramaswamy's drop out of the race.
Trump has not said publicly who he would pick as his vice president running mate if he wins the nomination. Trump has dabbled in NFTs, releasing a collection of 45,000 of them in December 2022. A year later, Trump unveiled another set of digital trading cards that give fans the chance at scoring perks like dinner with the former president, or nabbing a piece of the suit he wore when taken in by Georgia police after being indicted in August.
Ramaswamy's stance
Crypto has been brought up a few times by Republican presidential candidates over the past year. Ramaswamy said last month that his plan in part would block regulation of self-hosted wallets and allow for the "freedom to innovate without regulatory overreach." Meanwhile, Republican presidential candidate Ron DeSantis, in his capacity as the governor of Florida, blocked the use of CBDCs in his state in May.
Ramaswamy also criticized SEC Chair Gary Gensler during a debate last month. The SEC chair has been consistent in his stance that many cryptocurrencies are securities and need to follow securities laws, while urging crypto exchanges to register with his agency.
"I think it's nothing short of embarrassing that Gary Gensler, the current leader of the SEC, in front of Congress could not even say whether Ethereum counted as a regulated security or not," Ramaswamy said during the debate. "This is just another example of the administrative state gone too far."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump and Musk dine with Microsoft CEO to discuss AI, cybersecurity and American jobs
Share link:In this post: Microsoft Corp.’s Satya Nadella joins Donald Trump and Elon Musk for the discussion of AI and cybersecurity The statement said that the conversation was based on several topics, including the US firm’s pledge to invest $80 billion in AI data centers globally. Over $50 billion of that investment is expected to support American jobs.
Litecoin ETF may be near SEC approval after Canary Funds amends the filing
Share link:In this post: Canary Capital filed an amended S-1 registration statement for its Litecoin ETF on January 13. Senior ETF analyst at Bloomberg Eric Balchunas believes the SEC’s recent response to Canary’s Litecoin S-1, improves the chances that a Litecoin ETF will be approved soon. Canary Capital also filed its S-1 registration statement for Solana and XRP ETFs in October.
Arkansas legislators propose bill to prohibit crypto mining near military sites
Share link:In this post: Arkansas lawmakers introduced Senate Bill 60 (SB 60) to establish a 30-mile buffer zone around military facilities to limit cryptocurrency mining operations near sensitive sites. The bill was prompted by a crypto mining plant near Little Rock Air Force Base, raising concerns about noise pollution and environmental degradation. Similar actions have occurred elsewhere in the US, with federal and state officials addressing security risks and environmental concerns tied to crypto minin
Apple and Google remove Huione Group crypto apps after alleged $24 billion illicit marketplace operation
Share link:In this post: Apple and Google have removed apps developed by Huione Group from their marketplaces in response to fraud allegations. Huione Group is believed to be behind Huione Guarantee, a Telegram-based marketplace with about $24 billion in money laundering and other fraudulent activities. The removal of these apps raises questions about app stores’ responsibility in monitoring and preventing the distribution of apps linked to illegal activities.