Independent U.S. presidential candidate Robert F. Kennedy Jr. announced in his latest statement that he would suspend his campaign and instead support Republican Trump. Both of them have a friendly attitude towards the cryptocurrency industry and have promised to launch a joint venture with Bitcoin. currency-related administrative orders.
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ToggleKennedy Jr. announced his withdrawal from the race: No guarantee of victory
The nephew of former U.S. President John F. Kennedy, who is also a current supporter of Bitcoin and a candidate for this presidential election, suddenly announced his withdrawal from the election in a statement on Friday, saying that he was deeply afraid that his presence would affect the vote. The differences between the two sides have benefited the Democrats:
In the face of relentless media scrutiny and control, I cannot continue to ask my campaign to work or my donors to continue donating money because I cannot assure them that I have a winning path to the White House.
He added, "Our polls have consistently shown that if I had stayed on the floor, I would have likely handed the victory to Democrats who disagreed with me."
He also emphasized that he would withdraw his name from running in 10 swing states, but people can still vote for him in states that are clearly dominated by Republicans or Democrats.
Switch to join Trump?
Kennedy Jr. also stated that he would turn his support to Republican candidate Trump, who also supports cryptocurrency and also delivered a speech at the Bitcoin 2024 conference, and declared that if Trump wins the election, he will join the government:
I want everyone to know that I am not ending my political career; I am pausing, not ending.
Will the public pay for the two’s encryption-friendly stance?
Over the past year, Kennedy Jr. has been friendly to the cryptocurrency industry and has promised to issue relevant executive orders, including making Bitcoin tax-free against the U.S. dollar , putting government budgets on the chain , and promoting the government to purchase Bitcoin until its value reaches gold.
On the other hand, Trump also further promoted his stance on the cryptocurrency industry by choosing crypto-friendly J.D. Vance as his vice presidential candidate, promising to safeguard Bitcoin mining rights , and establishing a national Bitcoin strategic reserve .
Previously, it was reported that Trump’s two sons would support and build a DeFi project called “ The DeFiant Ones ”, aiming to eliminate corrupt and inefficient intermediaries in the financial system:
The banks and their executives have always had absolute financial control, but that will end from now on.
However, poll results two weeks ago pointed out that young Americans trust the Democratic Party's Kamala Harris more than Trump or Kennedy Jr. on economic issues, forming a 4:2:2 situation.
Polymarket Trump and Harris are at loggerheads
Prediction market Polymarket data shows that long before Kennedy announced his withdrawal, the community's prediction probability of "whether he would withdraw from the election" continued to fluctuate around 90%. It can be seen that the crypto community is generally not optimistic about his continued candidacy.
What’s interesting is that Trump’s chances of winning have not improved because of Kennedy Jr.’s withdrawal. Instead, a stalemate has formed, with the odds of the two remaining evenly matched at around 50%.
The chart above shows that Trump's support steadily led when he was competing against Biden, who had withdrawn from the race, and jumped sharply after he was shot; and after news of Biden's withdrawal, Harris's support continued to divide Trump's The share even surpassed Trump's in the past few weeks.
So far this month, the election between the two has been close, and the key swing states are Nevada, Arizona and Pennsylvania.
