US President Joe Biden on Wednesday night delivered his farewell address as he prepares to step down from office on Monday, when President-elect Donald Trump is sworn in.

Speaking from the Oval Office in the White House, Biden began by commenting on the ceasefire and hostage release deal that was agreed upon between Israel and Hamas.

“This plan was developed and negotiated by my team, and will be largely implemented by the incoming administration. That’s why I told my team to keep the incoming administration fully informed, because that’s how it should be: Working together as Americans,” he stated.

The speech mostly dealt with Biden’s accomplishments during his four-year term.

“Our system of separation of powers, checks and balances, may not be perfect. But it’s maintained our democracy for nearly 250 years – longer than any other nation in history that has ever tried such a bold experiment. And in the past four years, our democracy has held strong,” stated Biden.

“It will take time to feel the full impact of all that my Administration has done. But the seeds we planted will grow and bloom for decades to come.”

Biden in his address warned of what he described as an “oligarchy” of the ultra-wealthy taking root in the country and of a “tech-industrial complex” that is infringing on Americans’ rights and the future of democracy.

Invoking President Dwight Eisenhower’s warnings about the military-industrial complex when he left office, he added, “I’m equally concerned about the potential rise of a tech-industrial complex that could pose real dangers to our country as well.”

In a letter previewing his remarks, Biden touted persistent job growth, lower prescription drug costs and investments in clean energy to fight climate change.

He portrayed the early days of his administration as a battle to emerge from the grips of the COVID pandemic and "a winter of peril," saying Americans came together and "braved through it."

"We emerged stronger, more prosperous, and more secure," Biden said in the letter.

Biden also highlighted his economic record, particularly the consistent gains in the labor market.