Republican presidential candidate Ryan Binkley drops out, endorses Trump

Republican presidential candidate Ryan Binkley dropped out of the race on Tuesday and immediately endorsed former President Trump.

"Today, I am suspending my campaign for the Presidency of the United States of America and offering my endorsement and unwavering support for President Trump," Binkley wrote on X.

Binkley, a Texas pastor and businessman-turned-presidential candidate, thanked his family, friends, campaign team, his more than 80,000 financial supporters and hundreds of volunteers.

"When I began this journey, it was with a message in my heart that our country needs to awaken to the fact that the unsustainable deficit spending and debt path we are on will undoubtedly lead us to a generational economic disruption," Binkley wrote Tuesday. "I believe that we can get off that path and begin a journey to balance the federal budget by transforming and demonopolizing the healthcare system which has been bankrupting our nation. I also felt deeply that as bad as the U.S. fiscal and monetary policy is, the political corruption and cultural divide in our country is an even greater threat. Throughout my campaign, I have seen our party struggle to find a place for a new vision while weighing the corrupt allegations and indictments against President Trump. He will need everyone’s support, and he will have mine moving forward."

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Republican presidential candidate Ryan Binkley has dropped out of the race and endorsed former President Trump. (Scott Olson/Getty Images/File)

Binkley, the co-founder and current CEO/president of Generational Equity Group, a merger and acquisitions business advisory firm in Texas, announced his bid in April of last year.

Ryan Binkley speaks at the Republican Party of Iowa's 2023 Lincoln Dinner in Des Moines on July 28, 2023. (Sergio Flores/AFP via Getty Images)

"Currently our nation is lost, divided, and in financial trouble. Here’s the good news: united, we can rise to change it as we restore our faith in God, freedom, and each other," Binkley’s website says.

Republican presidential candidate and businessman Ryan Binkley speaks to guests at the 3rd annual MMM Tailgate, Oct. 20, 2023, in Iowa City, Iowa. (Scott Olson/Getty Images)

He withdrew his 2024 bid for the White House after less than a year on the campaign trail. Binkley's campaign focused on issues like immigration reform and border controls, boosting the economy, privatizing health care, utilizing cheap energy sources like nuclear energy and supporting pro-life policies.

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"While it is time for me to go back to my family, business, and church and care for the responsibilities I have been given, I remain steadfast in my commitment to my plans for the economy, border security, and healthcare," Binkley's message continued Tuesday. "I look forward to considering other ways I can make an impact and promote my policy positions. Thank you again for being with us on this journey. Let’s continue to pray for our nation, and our leaders. When we look to each other for wisdom and strength, our future can be better than we can imagine. I look forward to seeing what tomorrow holds."

Fox News' Andrew Murray contributed to this report.