U.S. presidential candidate Andrew Yang now accepts Bitcoin, Ethereum, and other ERC20 tokens
2020 Presidential candidate Andrew Yang meets with Barack Obama in 2012
Image via Yang2020.com
Venture for America founder Andrew Yang is running for president and has announced via Twitter that his campaign can now accept crypto, in addition to soliciting $1 donations via Venmo.Tweet this
A bit of an unlikely contender, Andrew Yang is a compassionate capitalist who has thrown his hat in the ring for the 2020 presidential race in America.
Now, in addition to soliciting $1 Venmo donations, the New Hampshire Democrat has announced that he’s also accepting Bitcoin as well as Ethereum and any other standard ERC20 tokens.
Making a crypto donation to the campaign is a bit convoluted, but if you’re interested, here’s how:
- First, visit this form to get started
- Next, you’ll have to agree to the (standard) campaign contribution rules
- After that, there’s a form asking for your address, occupation, and donation amount
- Then, the campaign will verify you and email you a wallet address to send to
- Finally, send your Bitcoin, ETH, or other ERC20 token from your wallet to Yang’s
There’s an individual maximum donation of $2,500, and the campaign asks that you not share the wallet address so you don’t have to deal with untraceable donations.
Yang, who sold education company Manhattan Prep back in 2009, spent nearly a decade building Venture for America, a two-year fellowship program that places recent grads with vetted companies in 18 cities.
As of 2017 when Yang stepped down as CEO, VFA had over 500 Fellows and alumni who created 29 companies that raised $40 million and helped create over 2,500 job, with a focus on spots hit hardest by the financial crisis including Baltimore, Detroit, Pittsburgh, and Cleveland.
Yang’s success hasn’t gone unnoticed. He was twice recognized by the Obama White House for his work with VFA. In 2012 he was named a “Champion of Change” and in 2015 he became a “Presidential Ambassador for Global Entrepreneurship” as part of the PAGE Program.
Yang has solid academic credentials too, having studied economics and political science at Brown followed by a law degree from Columbia. He even had a failed internet startup along the way.
He’s also serious about crypto, having recently joined on as an advisor to Manna, a digital currency provided as a Universal Basic Income and backed by a 501(c)(3) charity.
As a candidate for President and a parent, Yang is “terrified about the growing automation of American jobs,” and he foresees a not too distant future where job creation simply can’t keep up. He goes on, “automation is destroying jobs and entire regions are being left behind.”
To combat this loss of jobs, Yang is sticking his neck out for Universal Basic Income (UBI) which, despite him being only 43 years old (and Asian-American) is sure to evoke comparisons to Bernie Sanders… and probably a lot of name-calling.
His plan is to give every American $1,000 a month, or $12,000 per year, with “no questions asked.”
Here’s how Yang plans to pay for it:
- Let people keep their current “welfare” instead of the UBI, which is about half a trillion
- A 10% Value-Added Tax or VAT on companies to the tune of $800 billion
- New revenue from people spending their UBI, which Yang estimates would net $500-600 billion
- Cost savings from reduced use of healcare, jails, homeless services, and the like, estimated to save $100-200 billion
For some of these numbers, Yang cites a Roosevelt Institute study that says a $1,000 monthly UBI like the one he proposes would grow the economy by approximately $2.5 trillion and create 4.6 million new jobs.
You can learn more about Andrew Yang at Yang2020.com or via this “Humanity First” campaign video:
P.S. In case you were wondering, it’s perfectly legal to accept crypto for a national election. Here’s the Federal Election Commision page about Bitcoin contributions, which get valued based on the market value at the time of the contribution.