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Bitcoin-Backing Presidential Candidate Andrew Yang Drops Out

2 mins
Updated by Max Moeller
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Democratic presidential candidate Andrew Yang has dropped out of the race, taking with him pro-cryptocurrency and Universal Basic Income views that have won over millions of people. Many blockchain and cryptocurrency insiders, as well as officials like Alexandria Ocasio-Cortez, took to Twitter to offer support to Yang.
On Feb 11, Andrew Yang exited the race to become the United States Democratic party’s presidential candidate in the upcoming general election. Speaking to the press in New Hampshire, Yang said, “I am the math guy, and it is clear tonight from the numbers that we are not going to win this race.” Yang, who rapidly gained the attention of voters with his views on Universal Basic Income (UBI) and cryptocurrencies in a field filled with familiar party faces, was a standout candidate for many. Yang stood toe-to-toe against other Democratic stalwarts who have decades of experience serving in the government. Polls showed that Yang was nowhere near the support levels of Bernie Sanders, Joe Biden, or Elizabeth Warren. But Yang continued to press on since his run began in 2017, eager to use the campaign space to give his ideas some attention — not the least of which was his support for cryptocurrencies.

Yang’s Pro-Cryptocurrency Views

Yang has made explicit policy remarks on Bitcoin and cryptocurrencies on the campaign trail, stating that the technological revolution that Satoshi Nakamoto launched could not “impede” investors of cryptocurrencies and that the U.S. was lagging behind other nations with respect to regulations. andrew yang In November 2019, Yang elaborated on his plans for cryptocurrencies if he to be elected. Stating that regulations were getting in the way of the flourishing of cryptocurrencies, Yang proposed that a unified regulatory approach was required for innovation, as opposed to the “hodge-podge of state-by-state treatments.”

Tributes Pour In

Following the announcement, many notable names from both the cryptocurrency and political worlds offered tributes to Yang and his campaign. Twitter and Square CEO, Jack Dorsey, who has on multiple occasions described his enthusiasm for Bitcoin, thanked Yang for the run and ‘bringing UBI back into the conversation.’ United States House of Representatives member, Alexandria Ocasio-Cortez, who is also extremely popular with younger generations, congratulated Yang on the attempt. https://twitter.com/AOC/status/1227420120504512514
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Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...
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