Ripple backs Deaton with $1M donation in senate race against Warren

Derek Andersen2 hours agoRipple backs Deaton with $1M donation in senate race against WarrenRipple has the back of one its strongest supporters in his attempt to unseat powerful Senate crypto foe Elizabeth Warren.2099 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksRipple has donated $1 million to the super political action committee (PAC) Commonwealth Unity Fund to support John Deaton"s campaign in the Massachusetts Republican senatorial primary on Nov. 5. Deaton is challenging incumbent Democratic US Senator Elizabeth Warren, who is an ardent crypto opponent.

Deaton is a lawyer best known to the crypto community for his support of Ripple Labs. His law practice concentrates on victims of mesothelioma and asbestos-related diseases. He also owns the website CryptoLaw.Ripple supports its own

Deaton spearheaded the so-called XRP Army of tokenholders who volunteered to serve as third-party volunteer defendants in the Securities and Exchange Commission’s (SEC) suit against Ripple. He has also submitted numerous amicus curiae letters in high-profile SEC cases against crypto firms.Source: Eleanor Terre

The Commonwealth Unity Fund was established by lawyer James Murphy to support Deaton. According to the US Federal Election Committee, the PAC has received $1 million from Ripple Labs and $50,000 from Murphy himself. Nonprofit political money tracker Open Secrets shows that the PAC has spent $30,000 opposing Warren.

Related: Crypto community responds to Kraken lawsuit, Deaton slams ‘dishonorable’ Gensler

Deaton did not mention crypto in his campaign launch, and his campaign website mentions crypto only indirectly in press coverage reposted there.Deaton’s support is limited

Open Secrets indicates that Deaton’s campaign has raised $1.7 million. Many prominent figures in the crypto community have contributed to his campaign. They included Gemini co-founders Cameron and Tyler Winklevoss, Ripple co-founder Chris Larsen, SkyBridge Capital founder Anthony Scaramucci, Ripple CEO Brad Garlinghouse, Ripple attorney Stuart Aldertoy, Kraken co-founder Jesse Powell, Cardano founder Charles Hoskinson and Coinbase. Meanwhile, Warren has raised $18 million.

Support for Deaton has not been universal within the crypto community, however. Pro-crypto super PAC Fairshake has not supported Deaton, nor has the Sentinel Action Fund. Coinbase-backed Stand with Crypto has not endorsed him.

Pro-crypto Sen. Cynthia Lummis endorsed Ian Cain, who is contending with Deaton for the Republic nomination. Cain is the co-founder of Qubic Labs, a blockchain technology accelerator. A third candidate, engineer Robert Antonellis, is also vying for the nomination. Polling has shown Warren with overwhelming support in the race for the Senate seat.

Magazine: Pro-XRP lawyer John Deaton ‘10x more into BTC, 4x more into ETH’: Hall of Flame# Cryptocurrencies# Ripple# Senate# Legislation# United States# Elections# RegulationAdd reaction