Breaking: Joe Biden Officially Withdraws from 2024 Presidential Race

President Joe Biden Joe Biden   Joe Biden Jr. is a US-based politician and a former senator. He is the former (46th) Democratic President of the America. In the case of crypto, Biden has had a cautious but growing perspective as the needs of fintech market.   Initially, Biden and his administration prioritized consumer protection and regulatory clarity. However, with the growing needs and demands from crypto leaders, and some from US states, he is now changing his view on crypto.   On March 2022, Biden signed an Executive Orders, that have further initiated studies into Central Bank Digital Currencies (CBDCs) and the regulation of crypto markets.   Quick Facts   Full name Joseph Robinette Biden Jr. Birth 20-11-1942, Scranton, Pennsylvania, United States Nationality American Education BA from the University of Delaware Known for Active in US Politics   Joe Biden - Career Highlights & Events   2020 – Elected 46th President of the United States   2021 – Signed Executive Order to review digital asset policies   2022 – Tasked federal agencies with developing crypto regulation frameworks   2023 – Led discussions on global crypto regulation at the G7 Summit   2024 – Supported research into U.S. CBDC through the Federal Reserve     President announced on Sunday that he will end his re-election campaign. This decision comes amid growing concerns among Democrats that the 81-year-old could not win a second term and might harm the party’s chances in November.

The push for Biden to step aside intensified after a poor debate performance against Republican Donald Trump on June 27, raising questions about his cognitive ability and fitness for another term.

Who Replaces Joe Biden?

As per the latest tweet from the President himself, he fully supports and endorses Kamala Harris, currently the vice president of America, as the Democratic party nominee.

In a tweet, Biden said, “My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this.”

As Biden steps down from the race, the United States witnesses a historic moment, being the first time a sitting president has withdrawn from a re-election campaign.

Also Read: Joe Biden’s Exit Boosts Kamala Harris Meme Coin to New Heights