Crytocurrency Proponent, Andrew Yang Drops Out Of Presidential Race

Democratic presidential candidate Andrew Yang has withdrawn from the election following a dismal showing in the New Hampshire primary Tuesday.

Yang entered the race in November 2017, centering his campaign around his signature “universal basic income” proposal, which would provide a $1,000 per month income to every American adult. However, as a candidate, he also created policy positions around the crypto and broader technology spaces.

In particular, he advocated for a comprehensive national approach to blockchain and crypto, rather than a “hodgepodge” of state and uncertain federal regulations.

"I will support whoever is the Democratic nominee," Andrew Yang said after announcing he's dropping out.

"That said, I hope this campaign can be a message and a word of caution and guidance to my Democratic colleagues that Donald Trump is not the cause of all of our problems" pic.twitter.com/SKSSZ1TfQC

— POLITICO (@politico) February 12, 2020

His campaign drew a large amount of support on social media, with many crypto proponents joining his #YangGang over the past two years.

This showing did not translate into support at the Iowa Caucus, where he received zero state delegates and only 1 per cent of the vote, or in New Hampshire, where he received 2.9 per cent of the vote as of press time, according to The New York Times.

Yang began laying off campaign staff following last week’s Iowa Caucus, before formally shuttering his bid Tuesday night.

“It is clear tonight from the numbers that we are not going to win this race,” he said in his announcement.