Pro-crypto lawmaker Tom Emmer ends hours-long speaker campaign: Report

The Minnesota congressman was one of only a few crypto proponents in Congress being considered as a possible speaker of the House by Republican lawmakers.

Tom Emmer, the current majority whip and a crypto proponent, has reportedly dropped his bid to become the next speaker of the United States House of Representatives — a position second in line to the U.S. presidency.

According to multiple reports from major news outlets on Oct. 24, Representative Emmer ended his campaign for speaker after he was unable to secure the 217 Republican votes necessary to win on the House floor, a vote expected sometime in the next day or two. The Minnesota congressman had only won the Republican nomination for speaker early on Oct. 24, making the race for the position open to a number of candidates once again.

This is a developing story, and further information will be added as it becomes available.