Joe Biden announced on July 21 that he would not seek a second term, abandoning his re-election campaign.
Biden immediately endorsed Vice President Kamala Harris, who becomes the frontrunner for the 2024 Democratic nomination.
The announcement comes after an assassination attempt on Donald Trump and tensions surrounding crypto regulation.
Joe Biden endorses Kamala Harris
In an unexpected turn of U.S. politics, President Joe Biden announced on July 21 that he will not run for a second term.
This decision, made just months before the presidential election, has left the Democrats without a clear candidate for the November 5, 2024, ballot, while Vice President Kamala Harris has received Biden’s endorsement.
The president explained his withdrawal by stating it was “in the best interest of my party and my country.”
Les tensions autour des crypto et tentative d’assassinat de Trump
Biden has become known for his firm stances against cryptocurrencies. On June 1, he vetoed a resolution that would have overturned a controversial SEC directive regarding the accounting of digital assets (SAB 121).
This decision has sparked outrage among crypto advocates, who believe this policy hinders financial innovation in the United States.
Biden’s announcement comes shortly after an assassination attempt on Republican candidate Donald Trump, who survived the attack. This event has added another layer of complexity to an already tumultuous election campaign, boosting Trump’s chances of victory.
The political future of Kamala Harris
Kamala Harris is now in the spotlight. Unlike Biden, she has not yet expressed clear positions on crypto, blockchain, or NFTs.
However, with Biden’s endorsement, Harris could become the Democratic nominee. Her lack of a clear position could work in her favor, allowing her to adopt a flexible strategy based on the needs of her campaign.
Given her background and her ties to Biden supporters, it is possible that she will follow a similar line. Nevertheless, her proximity to Silicon Valley and her image as a technology-friendly Democrat may push her to adopt a more nuanced position.
In the meantime, Donald Trump continues to show his support for cryptocurrencies. He is scheduled to speak at the Bitcoin conference on July 27 in Nashville, Tennessee. Trump, who has already launched several successful NFT collections, has emphasized the importance of maintaining U.S. leadership in the cryptocurrency sector to prevent another country from taking the lead.
