In summary
- Robert F. Kennedy Jr.’s bid for the White House came to a halt Friday when he announced he was suspending his campaign and would instead endorse Donald Trump.
- Kennedy will withdraw his name from the ballot in key states so as not to tip the election toward Democratic candidate Kamala Harris, but his name will remain on the ballot in most states.
- Kennedy criticized Democrats and the media, and mentioned that Trump has asked him to join his administration.
Robert F. Kennedy Jr.’s long-shot bid for the White House came to a screeching halt on Friday when the independent presidential candidate announced he was suspending his campaign and would instead endorse Donald Trump, another Bitcoin proponent. RFK Jr. isn’t backing out entirely, though.
Kennedy announced the news in Phoenix, Arizona, at an event his campaign said would address “his path forward.” The heir to the Kennedy political dynasty thanked his volunteers and supporters, hinting at the end of his campaign. However, Kennedy said he would only withdraw his name from the ballot in key states, in an effort not to tip the election toward Democratic candidate Kamala Harris.
“I want everyone to know that I am not ending my campaign,” Kennedy said. “My name will remain on the ballot in most states.”
Arizona Secretary of State Adrian Fontes said on Twitter (aka X) late Thursday that Kennedy had “filed official paperwork” in the state to withdraw from the 2024 race. The Associated Press reported ahead of Kennedy’s speech Friday that his campaign had also filed paperwork to withdraw in Pennsylvania, and his team said Kennedy would endorse Republican nominee Trump instead.
“I’m not ending my campaign, I’m just suspending it,” he said Friday in Arizona. “Our polls consistently showed that by staying on the ballot in key states, I would likely hand the election to Democrats, with whom I disagree on the most existential issues.”
Kennedy said issues of free speech, the war in Ukraine and the “war on our children” led him to “leave the Democratic Party, run as an independent and now throw my support behind President Trump.” He added that Trump “has asked me to join his administration.”
During his speech, Kennedy also denounced “shadowy Democratic operatives” who worked to hamper his campaign, saying the Democratic National Committee “waged a continuing legal war against both President Trump and me.”
“In the name of saving democracy, the Democratic Party itself is dismantling it,” he added.
Kennedy also extended his criticism to the media, specifically addressing those in the crowd.
“Instead of maintaining a posture of fierce skepticism toward authority, its institutions have become mouthpieces of government for the organs of power,” Kennedy said. “They don’t fear lies, they fear the truth.”
RFK Jr. and Bitcoin
Kennedy was the first presidential candidate to come to Bitcoin’s defense, anticipating former President Donald Trump’s shift in crypto stance by nearly a full year. At a Bitcoin conference in Miami last year, Kennedy described Bitcoin as a “bulwark” against governments and corporations seeking to expand their power and interfere in the daily lives of Americans.
Since delivering his keynote address, Kennedy has continued to integrate cryptocurrencies into his presidential platform. He suggested the U.S. could back the dollar with a mix of Bitcoin and other “hard currencies,” for example, or increase transparency in government spending by putting “the entire U.S. budget on the Blockchain.”
Between Kennedy and Trump, both candidates have made similar gestures to digital asset owners. At a recent Bitcoin conference in Nashville, Kennedy proposed the creation of a Bitcoin strategic reserve, while the former president suggested a “strategic Bitcoin warehouse” the following day.
Kennedy’s endorsement of Trump could have implications for Harris. Polls conducted by NBC News before President Joe Biden’s sudden exit from the race last month found Kennedy had positive ratings among Republicans while he was disapproved of among Democrats.
Speaking to podcaster Tom Bilyeu earlier this week, Kennedy’s political partner Nicole Shanahan indicated that her campaign prefers Trump over Harris. She described the possibility of taking votes away from Trump as a “risk,” while criticizing Democrats for being anti-crypto.
“Elizabeth Warren is the poster child for regulating Bitcoin,” Shanahan said. “The federal government needs to loosen some of the control it has enjoyed for decades over fiat currency.”
Edited by Andrew Hayward
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