Crypto Proponent Andrew Yang Shuts Down 2020 Presidential Campaign

His campaign attracted the attention of the crypto proponents and over the past two years, many of them have joined his #YangGang.

The businessman and tech entrepreneur Andrew Yang announced to withdraw from the Democratic Presidential race of 2020 on Tuesday because his campaign failed to make an impact in the New Hampshire Primary.

On that evening while suspending the campaign for the president, Andrew Yang said:


“You know I am the math guy and it is clear tonight from the numbers that we are not going to win this race. I am not someone who wants to accept donations and support in a race that we will not win. And so tonight I am announcing I am suspending my campaign for president.”

When Andrew Yang stepped into the 2020 democratic presidential race in Nov 2017, he started a campaign around his signature “universal basic income”. This proposal aimed to provide a $1,000 per month income to every American adult.

However, his campaign could not get the support of the Iowa Caucus. Here, his campaign failed to get more votes and they could only receive one percent of the vote. While according to the report of The New York Times, he could get only 2.9% of the vote in New Hampshire. Therefore, he has announced to shut down his campaign.

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Being the proponent and supporter of cryptocurrency, Andrew Yang also developed some policy positions around the crypto and broader technology spaces. He showed his support more for a comprehensive national approach to cryptocurrency and blockchain technology than a hodgepodge of state and uncertain federal regulations.

While speaking at the CoinDesk’s consensus 2019, he said:

“I think it’s unfair to folks and I think it’s a clear emblem of the U.S.’s approach, and [customers] ask ‘what the heck. It’s one thing that they [regulators] come down when there’s clear guidelines [but there aren’t in crypto]. So the regulators owe us some degree, owe the community some degree of clarity.”

His campaign attracted the attention of the crypto proponents and over the past two years, many of them have joined his #YangGang. His campaign received a lot of support on the social media platform.



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