As a long-term crypto investor with a keen interest in politics and the regulatory environment, I find myself at a crossroads following the unexpected announcement of President Joe Biden’s withdrawal from the 2024 presidential race.
It came as a shock when U.S. President Joe Biden made an unexpected announcement: he would not be seeking re-election in 2024, only four months before the presidential vote.
On July 21, Biden announced his decision without offering detailed explanations, instead emphasizing that it was in the best welfare of his political party and the nation as a whole.
— Joe Biden (@JoeBiden) July 21, 2024
The Democratic Party is currently lacking its anticipated nominee for the November 5th election due to unforeseen circumstances. Although Vice President Kamala Harris is being discussed as a possible substitute, no definitive nominee has been announced yet.
According to the latest odds in the 2024 Election betting market on Polymarket, President Joe Biden’s probability of winning now stands at only 1%, whereas former President Donald Trump’s chances remain high at 64%. Vice President Kamala Harris follows closely behind with a 30% chance.
During his presidency, Biden has made headlines for his firm stance on cryptocurrency regulation. On June 1, he rejected a bill that aimed to annul SEC’s Staff Accounting Bulletin No. 121. This move sparked controversy within the crypto sector, with critics claiming it stifled financial innovation.
The president’s decision to withdraw was made not long after an unsuccessful attempt on the life of Donald Trump, the Republican Party’s nominee for president. Trump has recently expressed his continued backing for the cryptocurrency sector, revealing plans for another NFT collection and stressing the importance of American dominance in this field.
In the evolving political terrain, the upcoming weeks are expected to bring about notable shifts in campaign tactics and prospective nominees for both major parties.
The upcoming 2024 election, known for its anticipated controversies, could now become even more complex as the Democratic Party rushes to select a new contender ahead of Election Day.
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2024-07-21 23:49