Ripple donates $1 million to support John Deaton’s effort to unseat Elizabeth Warren Ripple donates $1 million to support John Deaton’s effort to unseat Elizabeth Warren
Deaton is a strong pro-crypto candidate that enjoys backing from several crypto stakeholders.
2 min read
Updated: Jul. 16, 2024 at 10:29 am UTC
Credit: John Deaton / Image via johndeatonforsenate.com
Ripple has donated $1 million to support XRP advocate John Deaton‘s bid to unseat Senator Elizabeth Warren in the Massachusetts Senate race.
The crypto firm funded a super political action committee (PAC) called the Commonwealth Unity Fund. This PAC, created by James Murphy, another pro-XRP lawyer, aims to challenge and unseat Warren, known for her skepticism towards crypto.
Fox Business journalist Eleanor Terrett first reported the funding.
Ripple’s funding is unsurprising, considering Deaton’s strong pro-crypto background. Deaton is a well-known pro-XRP lawyer who has publicly criticized Warren and the US Securities and Exchange Commission (SEC) for their treatment of the emerging industry. Notably, he has also played leading roles in the SEC’s cases against several crypto firms, including Ripple and Coinbase.
Murphy described Deaton as a “uniter” and emphasized the importance of not staying on the sidelines in this crucial election. He added:
“For me and my family, this election is simply too important to just stand on the side lines. We desperately need a uniter like John Deaton in the Senate.”
Meanwhile, Federal Election Commission data shows that Deaton has raised about $1.4 million from notable figures in the crypto industry. His support base includes Ripple’s CEO Brad Garlinghouse, Cardano’s Charles Hoskinson, and Gemini exchange twins founders Tyler and Cameron Winklevoss,
Crypto increasing push for influence
Crypto’s role in the election cycle is growing, as recent funding trends show. A recent Grayscale survey highlights a rising pro-crypto sentiment among Americans, driven by macroeconomic shifts and the sector’s growth.
In response, crypto firms like Ripple, Coinbase, and others are funding super-political action committees, investing around $150 million to support pro-crypto candidates.
Similarly, nonpartisan groups like Stand With Crypto and the Bitcoin Voter Project are also emerging. These organizations aim to mobilize crypto voters and influence election results.
As a result, candidates are taking notice of the crypto vote’s growing influence, with some reports noting that this could affect voter turnout and election outcomes.
Mentioned in this article
XRP 
Ripple 
Coinbase 
John Deaton 
Elizabeth Warren 
Brad Garlinghouse 
Charles Hoskinson 
Tyler Winklevoss 
Cameron Winklevoss Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Theย XRP Ledgerย is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
John Deaton is the founder and host of CryptoLaw which was launched in 2021 to provide digital asset holders with information, news, and analysis on key U.S.
Elizabeth Warren is an American politician and former academic known for being fiercely anti-Bitcoin and anti-crypto.
Brad Garlinghouse stands at the forefront of financial technology as the CEO of Ripple.
Charles Hoskinson, based in Colorado, stands out as a prominent figure in the blockchain and cryptocurrency sphere.
Tyler Winklevoss, known for his pioneering role in the cryptocurrency realm, is a Harvard University alumnus with a degree in Economics and holds an MBA from Oxford University.
Cameron Winklevoss, a renowned figure in the cryptocurrency sector, is a Harvard University graduate with a degree in Economics and holds an MBA from Oxford University.