Crypto Advocate Andrew Yang Withdraws from Presidential Election 2020

UTC by Daria Rud · 3 min read
Crypto Advocate Andrew Yang Withdraws from Presidential Election 2020
Photo: Gage Skidmore

Andrew Yang entered the presidential race in November 2017 under the slogan “Make America Think Harder”. But now he has dropped out of the election race 2020.

An American 2020 Democratic presidential candidate Andrew Yang has withdrawn from the election. The news came on the night of the New Hampshire primary. The early results (just 1 percent of the delegates in the Iowa Caucuses) suggested the Democratic candidate failed to win.

Yang commented:

“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’m not someone who wants to accept donations and support in a race that we will not win, and so tonight I’m announcing I’m suspending my campaign for president.”

He further tweeted:

Besides, Yang promised to support any Democratic nominee for the presidency.

It’s also important to mention that Andrew Yang has withdrawn from the election together with Senator of Colorado Michael Bennet.

Andrew Yang Had Crypto-Friendly Presidential Election 2020 Program

Andrew Yang, 45, is a New York native and the son of Taiwanese immigrants. He is a businessman, lawyer, and philanthropist whose entrepreneurial endeavors led him to found the nonprofit Ventures for America (VFA). Yang entered the presidential race in November 2017, under the slogan “Make America Think Harder”.

Notably, Yang’s campaign proposal is one of the most arguable. Firstly, Yang suggested offering $1,000 dollars every month to every American over the age of 18. He called it “Freedom Dividend”. According to Yang, universal basic income would help in the age of the rapid development of automation that leads to workforce challenges. Secondly, Yang promised to introduce a value-added tax on corporations like Amazon and Google and require them to give a percentage of their profits back to the American people. As a result, Americans would become investors of these corporations.

Yang said:

“You can’t fight job automation the same way you fight climate change, by asking people to sacrifice or be more vigilant about the resources they consume. We have to go the other direction and spread the bounty of automation and new technology as broadly and quickly as possible.”

In addition, Yang proposed “Medicare for all” and “Human-Centered Capitalism”.

In August of last year, Yang suggested modernization of voting with the little help of blockchain. Moreover, he promised, that if elected he would promote legislation that provides clarity in the digital asset market space. Interested in crypto, Yang planned to use a “21st-century approach” to enable regulations that enhance “the knowledge and capacity of government while using new metrics to determine competitiveness and quickly identifies emerging tech in need of regulation.”

Cryptocurrency news, News
Daria Rud
Author Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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