Politico reported that attorney John Deaton, who is running against Massachusetts Senator Elizabeth Warren, has gotten support from a cryptocurrency super PAC. This is a significant development before the elections.
Deaton has become a strong opponent for Warren. He is known for supporting Ripple (XRP) and being involved in important crypto cases. Because his views on crypto policy are so different from Warren’s, crypto fans who want to help his campaign have donated to it.
Deaton, the founder of CryptoLaw, has made it clear that he doesn’t agree with Warren and Gary Gensler, the chair of the Securities and Exchange Commission (SEC), especially when it comes to how they regulate cryptocurrency. Notably, he asked the SEC to step in and defend XRP holders in the case against Ripple, saying that their interests were not being adequately represented.
Ripple-Backed Deaton Challenges Warren
Deaton’s campaign is a threat to Warren’s stronghold in Massachusetts since she just moved there and registered as a Republican. Even though Deaton has a lot of ties to the crypto community, he says that his campaign isn’t just about crypto problems.
The fact that Deaton is running against Warren shows how much more people in the crypto business don’t like Warren’s strict regulatory ideas, which are seen as possibly stifling innovation.
Recent polls show that a big chunk of voters think Deaton or another Republican candidate could really hurt Warren’s chances of getting re-elected. Well-known people in the crypto world, like Mark Cuban, a billionaire, and Brad Garlinghouse, CEO of Ripple, have thrown their support behind Deaton’s effort because of this.
The large number of donations from crypto-focused PACs shows a concerted effort to back candidates who will work for the business. Because Warren has always been against crypto, these groups see her as an easy target and are putting a lot of funds into Deaton’s campaign.
This change is similar to a larger trend seen in recent primary elections: candidates who supported digital assets got a lot of support from crypto super PACs. Even though she was very popular, radical Democrat Rep. Katie Porter lost in California’s Senate primary. This shows that candidates’ views on cryptocurrencies have changed a lot in recent years.
