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Highlights
- JD Vance demands President Biden's resignation, citing cognitive concerns.
- Market bets surge on Biden dropping out of the presidential election, reaching 78%.
- Vance's influence and Donald Trump's crypto backing are likely to shape the future of digital asset regulation in the US.
Pro-crypto politician and Donald Trump’s VP candidate for the upcoming election, JD Vance, has called for President Joe Biden’s resignation. This unexpected demand has stirred the market, especially with the buzz surrounding the 2024 U.S. election. Notably, Trump’s VP pick has also recently criticized President Biden in another post, intensifying the U.S. political drama.
JD Vance’s Call For President Biden’s Resignation
JD Vance recently made headlines with a provocative post, demanding President Joe Biden’s resignation from his chair. In a recent X post, he stated:
Everyone calling on Joe Biden to stop running without also calling on him to resign the presidency is engaged in an absurd level of cynicism. If you can’t run, you can’t serve. He should resign now.
He also questioned Biden’s “cognitive” abilities, arguing that if he’s not capable of running a re-election campaign, he’s equally unfit to continue serving as President and “Commander-in-Chief”. Besides, Trump’s VP pick challenged Democrats who want Biden to withdraw from the presidential race to explain why they still support him remaining in office.
These statements have intensified the political discourse, especially with Donald Trump’s recent announcement to nominate Vance as his Vice Presidential candidate. Known for his pro-crypto stance, the politician has consistently supported the crypto industry.
He had previously voted to repeal the controversial SAB 121 regulation, which complicates financial firms’ ability to provide crypto custody. He has also criticized the Securities and Exchange Commission (SEC) for their regulatory overreach previously.
Meanwhile, in 2022, he disclosed Bitcoin holdings worth up to $250,000. Additionally, he introduced a bill for bank regulation to ensure crypto firms are not discriminated against last year. His pro-crypto stance, coupled with Trump’s support for the crypto industry, has sparked discussions in the market.
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Market Reactions and Political Implications
The political landscape is heating up with JD Vance’s latest comments. According to Polymarket, bets have surged to 78% over President Biden dropping out of the upcoming presidential election. Besides, the data indicates that Donald Trump has a 64% chance of winning, while Biden holds only a 7% chance.
The Trump’s VP pick of a pro-crypto candidate has fueled discussion in the market. His actions and statements reflect a strong commitment to promoting and protecting cryptocurrency interests. As the election draws nearer, Vance’s influence and policies could shape the future of crypto regulation in the U.S.
Meanwhile, the market is closely watching these developments. Vance’s recent call for Biden’s resignation and his pro-crypto agenda have also added a new dimension to the 2024 election narrative. As political tensions rise, the implications for the crypto industry could be substantial.
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