Joe Biden’s presidential campaign is facing increasing speculation and support from the crypto community regarding his potential withdrawal before the November election. Betting platform Polymarket has seen a rise in the likelihood of Biden ending his campaign, with traders estimating a 44% chance of withdrawal. In contrast, former President Donald Trump is favored to win, with a 63% chance and $24.7 million in bets. Both candidates are actively courting crypto voters, with Trump reversing his anti-crypto stance and Biden announcing new crypto policies. Polymarket reached $100 million in monthly trading volume in June, indicating a rising interest in the election outcome among users. The first presidential debate on June 27 raised doubts about Biden’s campaign, as he appeared to struggle with his response while Trump remained composed. Biden’s odds have dropped to 18% since the debate. Trump has promised to end what he refers to as Biden’s war on crypto and has engaged with Bitcoin miners, advocating for American-made cryptocurrency. Both candidates have made efforts to appeal to crypto voters, with Biden addressing legislative issues and launching an outreach campaign, while Trump now supports Bitcoin mining and cryptocurrency, opposes central bank digital currencies (CBDCs), and emphasizes self-regulation.
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Joe Biden Presidential Campaign Is Being Supported by the Crypto Community to Quit
