Cryptocurrency-backed presidential candidate Vivek Ramaswamy has suspended his campaign and endorsed Donald Trump.

Pro-crypto U.S. presidential candidate Vivek Ramaswamy has pledged to fire most of the Securities and Exchange Commission (SEC) if elected president. stopped His campaign for Republican leadership after finishing fourth in Iowa.

Ramaswamy thanked his supporters in his concession speech. He also supported former President Donald Trump, saying, “I will attend a rally in New Hampshire with Donald Trump and explain what I see and what we see for the future of the country.”

Vivek Ramaswamy attacks the SEC

Ramaswamy has been an active advocate for the cryptocurrency space and has not been shy about criticizing the SEC. In the fourth Republican primary debate, he punished We thank SEC Chairman Gary Gensler, as well as the SEC and our nation’s regulatory framework, for their failure to deter bad actors.

“Our regulations must keep up with the current moment. The fact that SBF (Sam Bankman-Fried) was able to do what he did at FTX shows that the framework they have in place now is not working,” Ramaswamy said.

Ramaswamy also highlighted an incident in which the SEC chairman was unable to clarify whether Ethereum was a security during a hearing and called it “extremely embarrassing.”

Could Trump change his stance on cryptocurrencies?

recent expose Ramaswamy’s Coinbase account showed he owned between $100,001 and $250,000 worth of Bitcoin (BTC). He also appears to be holding between $15,001 and $50,000 in Ethereum (ETH).

Trump, on the other hand, declared on July 12, 2019 at

… And international. The United States has only one real currency, and that currency is stronger and more reliable than ever. It is and will continue to be the most dominant currency anywhere in the world. It’s called US Dollars!

— Donald J. Trump (@realDonaldTrump) July 12, 2019

Despite his criticism of the digital asset sector, filing Documents submitted to the Office of Government Ethics revealed that President Trump had a ‘cryptocurrency wallet.’ According to the documents, the value of the wallet at the time of reporting was between $250,000 and $500,000.

this wallet This collection can be connected to the NFT (Non-Fungible Token) collection launched by former President Trump in December 2022. The collection consists of a total of 44,000 trading cards featuring images of Trump in various positions, including as a superhero, cowboy, and astronaut.

Given the fact that the assets may have been derived from his NFT venture, there is currently no clear indication that Trump has changed his mind.

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