U.S.
President
Joe
Biden
will
end
his
campaign
for
a
second
term,
he
announced
Sunday,
sending
meme
coins
tied
to
his
campaign
plummeting
and
slightly
decreasing
Republican
nominee
and
former
President
Donald
Trump’s
chances
on
the
Polymarket
prediction
market.
Vice
President
Kamala
Harris
is
now
the
leading
contender
for
becoming
the
new
Democratic
Party
nominee
for
the
2024
race,
according
to
another
Polymarket
contract.
Biden
gave
his
No.
2
a
shout-out
in
his
departure
letter,
endorsing
her
in
a
second
tweet
shortly
after
announcing
the
end
of
his
campaign.
“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,”
he
said
in
a
post
on
X.
Biden’s
departure
came
after
weeks
of
pushback
that
grew
to
more
than
a
dozen
lawmakers
in
his
own
party
following
a
disastrous
debate
performance
in
June.
The
price
of
BODEN,
a
meme
coin
poking
fun
at
the
president,
fell
by
nearly
half
in
the
aftermath
of
his
announcement.
KAMA,
a
Harris
coin,
doubled
in
price.
Meanwhile,
TREMP,
a
similar
coin
pointing
to
Trump,
rose
over
20%.
After
Biden’s
announcement,
bitcoin
(BTC)
initially
fell
below
$66,000
before
snapping
back
above
$67,000.
The
2024
presidential
election,
which
will
also
see
voters
choose
the
makeup
of
the
U.S.
House
of
Representatives
and
Senate,
will
take
place
this
November.
“I
am
honored
to
have
the
President’s
endorsement
and
my
intention
is
to
earn
and
win
this
nomination,”
Harris
said
in
a
statement.
“I
will
do
everything
in
my
power
to
unite
the
Democratic
Party
–
and
unite
our
nation
–
to
defeat
Donald
Trump
and
his
extreme
Project
2025
agenda.”
UPDATE
(July
21,
2024,
18:38
UTC):
Adds
KAMA
doubling
in
price,
updates
bitcoin’s
price
reaction.
UPDATE
(July
21,
2024,
20:35
UTC):
Adds
Kamala
Harris’
statement.