Jake Chervinsky, Chief Legal Officer of Variant Fund, stated in an article on X platform that the new Democratic presidential candidate should consider cryptocurrencies as a top priority, which would provide the Democratic Party under Biden with a "huge opportunity to win back a large portion of the cryptocurrency vote". Industry commentators believe that since Joe Biden has already withdrawn from the race, the Democratic Party in the United States may have the opportunity to regain the support of cryptocurrency voters. Earlier news stated that Joe Biden officially withdrew from the 2024 presidential election, supporting Vice President Kamala Harris to compete against Republican opponent Donald Trump and encouraging his party to unite behind her.

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