Cryptocurrencies and blockchain engineering science take lost a proponent and ally in the American political landscape.

Andrew Yang, an entrepreneur and Democratic candidate in the United States presidential elections, has suspended his entrada for president. NPR reports on February. 11 that Yang told supporters:

"While there is not bad piece of work left to exist done, you know, I am the math guy, and it is clear tonight from the numbers that nosotros are not going to win this race [...] I am non someone who wants to accept donations and back up in a race that nosotros will not win. And then this evening I am announcing I am suspending my campaign for president."

Presidential election season in the U.Due south. is well underway, with the Iowa caucuses happening just two weeks agone. Yang garnered barely i% of the vote in Iowa, and subsequently dropped out after an equally disappointing showing in the New Hampshire caucuses.

On his official Twitter profile, he promised his supporters, "Nosotros'll exist dorsum."

Andrew Yang'south human relationship with crypto and blockchain

Yang is known amidst his fellow candidates in the American primaries equally a strong proponent for entrepreneurship, equally well as supporting a basic universal income (UBI) and forrad-thinking approach to blockchain engineering and cryptocurrencies.

Last summer, Yang said that he would implement blockchain-based mobile voting if he wins the 2022 The states presidential election. In November 2022, he outlined how he plans to regulate the cryptocurrency industry, highlighting the need for clear rules in the infinite after already calling for such measures in April.

In November 2022, Yang butted heads with the cryptocurrency community after announcing his UBI projection that is "literally trying to give everybody coin." Every bit the U.S. and global debt approached record-high levels, the idea of expanding access to fiat currency as a benefit was met with more anger than approval from Bitcoiners.

A political action group supporting presidential candidate Andrew Yang had previously allowed donations in Bitcoin via Lightning Network.

Cryptocurrencies and blockchain in the U.S.

The United states has and so far seen the development of a cracking number of cryptocurrency- and blockchain-related patents and firms.

Earlier this month, blockchain software startup Simba Concatenation told Cointelegraph that the Naval Air Warfare Center, a California-based research group of the U.S. Navy, paid nearly $10 million to create a blockchain-based secure messaging platform.

Furthermore, as People's republic of china's central bank digital currency nears completion, the United States Federal Reserve's board of governors has recently signaled that the establishment is more than open to the idea of a government digital currency than previously.