Ron Paul announced Monday that his campaign will no longer spend money on presidential nominating contests due to lack of funds, effectively ending his campaign for the Republican nomination.
Paul wrote the following in an open letter to supporters:
Our campaign will continue to work in the state convention process. We will continue to take leadership positions, win delegates, and carry a strong message to the Republican National Convention that Liberty is the way of the future. Moving forward, however, we will no longer spend resources campaigning in primaries in states that have not yet voted. Doing so with any hope of success would take many tens of millions of dollars we simply do not have.
Paul, the only Republican presidential candidate remaining in the race with frontrunner Mitt Romney, encouraged his supporters to remain active in the presidential as well as downballot races across the country and stressed that he will continue working to win delegates.