Biden Withdraws from 2024 Presidential Race

Yesterday, U.S. President Joe Biden withdrew his application to fight the next presidential elections against Republican candidate Donald Trump.

Although the Democrats have yet to announce Biden's replacement, crypto market players are now expecting the next Democratic nominee to take a pro-crypto stand.

While Donald Trump has accelerated his Presidential campaign, attracting many crypto voters, Ripple CTO David Schwartz is betting on Joe Biden's Democrat replacement to introduce some pro-crypto policies.

Schwartz's Perspective on Democrat Strategy

In his recent post on X, Schwartz stated that the Democrats would not lose any votes by replacing Joe Biden. He said that there were no dedicated Biden voters, only anti-Trump voters.

The Ripple CTO believes this development could attract voters who are concerned about Biden's ability to serve the second term.

"No, he certainly wasn't. But there was no credible way to pivot with the same person at the top. It would have looked like cynically copying Trump. The shot they need to call now is how to distinguish the new candidate from Biden in a way that gains voters."

Furthermore, it would allow Democrats to credibly pivot on their crypto policy as there are no anti-crypto voters.

Kamala Harris as Potential Candidate

Many in political circles expect Kamala Harris to replace Biden, so they also feel there will be no significant policy changes.

One of the followers on X asked Schwartz what made him think that Biden was making the decisions on crypto policies. The follower said that it was someone else calling the shots. Responding to this, Schwartz clarified the strategic considerations.

Tulsi Gabbard's Take

Former Congresswoman Tulsi Gabbard shared her view on what could change if Kamala Harris takes the throne. In a post on X, Gabbard wrote:

"Biden's out, Kamala is in. Don't be fooled: policies won't change. Just like Biden wasn't calling the shots, Kamala Harris won't be either. She is the new figurehead for the deep state and the maidservant of Hillary Clinton, queen of the cabal of warmongers. They will continue their efforts to engulf the world in war and take away our liberty."

Market Reaction

Other market players, like Elon Musk, have also been taking potshots at Kamala Harris and predicting what to expect if she becomes the next President. Bitcoin and the broader crypto market have continued to show strength amid Sunday's key developments.