Crypto advocate Andrew Yang ends his presidential campaign
February 12, 2020, 1:15AM EST
1 min read
Democratic presidential candidate Andrew Yang has ended his 2020 bid after failing to gain traction with voters.
“I am the math guy, and it is clear tonight from the numbers that we are not going to win this race,” Yang told reporters in New Hampshire on Tuesday. “I am announcing that I am suspending my campaign for president.”
Yang started his presidential race in November 2017 on the promise of a universal basic income of $1,000 per month to every American adult. He also advocated for nationwide crypto regulations, rather than state-by-state policies.
"Currently, different departments of the federal government consider digital assets as property, commodities, or securities. Some states have onerous regulations in the space, such as NY’s BitLicense. Navigating this has had a chilling effect on the US digital asset market. It’s time for the federal government to create clear guidelines as to how cryptocurrencies/digital asset markets will be treated and regulated," a section of Yang's website read.
Yang also got the back of the crypto community, with many joining his “#YangGang” on social media over the past two years.
The 45-year old entrepreneur, however, did not win voters’ support. He received only 1% of the vote in the Iowa Caucus. But that is not deterring Yang. “We’ll be back," he tweeted.