Joe Biden Withdraws from 2024 Presidential Race
YEREVAN (CoinChapter.com) — United States President Joe Biden has announced he will not be running in the 2024 presidential election. This decision comes just four months before election day, which is scheduled for November 5. Biden’s statement on July 21 did not provide specific reasons for his withdrawal. Instead, he claimed it was in the
“best interest of my party and my country.”
Biden’s Exit Announcement. Source: JoeBiden Democrats Scramble After Biden’s Exit
With Biden out of the race, the Democratic Party faces a significant challenge. Consequently, the sudden decision leaves little time to rally behind a new candidate and prepare for the campaign season. Kamala Harris, seen as the most likely successor, has yet to make any public statements regarding her potential candidacy.
Moreover, the absence of an incumbent candidate could impact voter confidence and campaign momentum. Therefore, the party must now focus on quickly unifying around a new leader to maintain their standing against the Republican nominee.
Biden’s Crypto Veto Sparks Backlash
Biden has been a contentious figure within the cryptocurrency community. His administration has taken a cautious approach to the sector, often clashing with crypto advocates. On June 1, Biden vetoed a resolution aimed at overturning the SEC Staff Accounting Bulletin (SAB) No. 121, which was seen as a restrictive measure on the industry.
Biden Vetoes Crypto Guidelines Repeal. Source: Blockchain Association
This move drew backlash from crypto enthusiasts. Digital Chamber chief policy officer Cody Carbone called it “a slap in the face to innovation and financial freedom.” The veto was perceived as a hindrance to the growth and development of the crypto industry in the United States.
Trump Survives Rally Shooting, Promotes Crypto Vision
The political landscape has been further shaken by an assassination attempt on Donald Trump, the Republican Party’s presidential nominee. Trump, known for his pro-crypto stance, survived the attempt and continues to promote his vision for America’s leadership in the crypto industry.
Shooting at Trump Rally. Source: Acyn
In a recent interview with Bloomberg, Trump emphasized the importance of the US leading in the crypto space to prevent other nations from dominating the sector. He also announced plans to release another collection of non-fungible tokens (NFTs) following the success of his previous collections.
Macroeconomist Lyn Alden suggested that if Trump wins the upcoming election, it could lead to the extension of corporate tax cuts, potentially benefiting the crypto markets. This potential policy shift could create a more favorable environment for the growth of the crypto sector in the US.
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