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# Pro-crypto candidate drops bid for nomination

**Pro-crypto candidate for the United States presidency, Robert F. Kennedy, Jr., has announced that he is dropping his bid for nomination in the Democratic primary to run as an independent instead. This decision was made public during a rally in Philadelphia on October 9. Kennedy stated, “I’m here to declare myself an independent candidate.”**

Kennedy, who has been a supporter of cryptocurrencies, revealed that one of the main goals of his administration would be to establish the United States as the global hub of cryptocurrency, with a particular focus on Bitcoin. In July, he outlined plans to back the USD with “hard currency,” including gold, silver, platinum, and Bitcoin (BTC).

# Opposition to the Federal Reserve’s FedNow instant payment system

**Kennedy was also a vocal opponent of the Federal Reserve’s FedNow instant payment system, which he equated with a central bank digital currency (CBDC). He expressed concerns about CBDCs contributing to financial slavery and political tyranny, adding that there was a potential risk of banning and seizing Bitcoin. However, the U.S. Federal Reserve Board initiated a public-awareness campaign to differentiate FedNow from CBDC, clarifying their distinct nature.**

# Encouraging independence in the 2024 presidential race

**Kennedy had been building anticipation for his decision for several days, and on October 2, American Values 2024, the super-PAC supporting him, released polling results suggesting that he would be the strongest independent candidate in modern U.S. election history, with the support of 19% of the electorate. In comparison, U.S. President Joe Biden and former president Donald Trump received 38% support each.**

Despite numerous independent candidates declaring their candidacy for the 2024 presidential race, only a few have generated significant attention. Writer Marianne Williamson now stands as the sole remaining Democratic party challenger to Biden.

# Departure from the Kennedy family’s Democratic roots

**Though the Kennedy name has long been associated with the Democratic Party, RFK Jr.’s positions on certain issues, such as his opposition to vaccines, have led to his alienation from both the party mainstream and his own family.**

# Potential implications for the crypto industry

**Kennedy’s stance on cryptocurrencies bears similarities to that of Republican presidential contender and Florida governor Ron DeSantis, particularly in their opposition to FedNow and CBDC, as well as their support for Bitcoin. Current polls indicate that DeSantis trails behind Trump in the Republican primary nomination. However, with Biden and Trump leading the polls for their respective parties, it remains possible that the next U.S. president will be a crypto opponent who advocates for CBDC, despite industry suggestions that cryptocurrency will be a decisive issue for voters in the 2024 presidential election.**

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