Andrew Yang, a democratic presidential candidate who openly called for nationwide cryptocurrency regulations, has ended his presidential bid early over poor results seen so far.
Speaking to reporters in New Hampshire, Yang revealed he didn’t believe he was going to “win the race” and as such announced he was suspending the campaign:
I am the math guy, and it is clear tonight from the numbers that we are not going to win this race. I am announcing that I am suspending my campaign for president.
His presidential campaign was launched in November 2017 and saw him call for a universal basic income of $1,000 to every American adult, at one point inspiring TRON’s Justin Sun to give away $12 million to 100 people this year.
Yang’s campaign website criticized current cryptocurrency regulations in the U.S., pointing out different departments of the federal governments see cryptos in different ways and adding some “states have onerous regulations in the space,” and that navigating them “has had a chilling effect on the U.S. digital asset market.”
It also called for Americans to be “able to vote via their mobile device, with verification done via blockchain.” During his campaign, Yang also made it clear he believes people will be investing in cryptocurrencies one way or another, and as such regulations wouldn’t be able to stop them even if they tried.
He also mentioned the country should invest more in bitcoin’s underlying blockchain technology, pointing out various potential use cases for it – one of them voting. Yang’s campaign was taking in cryptocurrency donations, but ended after reportedly investing millions and spending weeks on a bus tour in Iowa, to only receive 1% support.