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XRP advocate John Deaton is running against Elizabeth Warren for the Massachusetts Senate seat. The battle is critical, given Warren is arguably the number one anti-crypto evangelist. The outcome of this contest will likely to influence crypto regulation in the next administration. John Deaton Misses Stand With Crypto Endorsement John Deaton’s Senate run comes as a response to Elizabeth Warren’s staunch opposition to cryptocurrencies. Despite his prominence in defending crypto firms like Ripple and his advocacy work, he has not received an endorsement from Stand with Crypto, a grassroots advocacy group that has supported over 20 other candidates. The non-partisan group FairShake also declined to endorse Deaton, even though it contributed $10 million to Democrat Adam Schiff. Deaton’s exclusion from these endorsements surprised many, given his prominent legal role in the crypto industry, including his amicus brief for 4,701 Coinbase customers in a case against the SEC. His opponent, Senator Elizabeth Warren, has been a vocal critic of the cryptocurrency space, claiming it supports illegal activities and threatens national security.  “It’s just kind of bizarre that the ‘leading crypto advocacy group’ isn’t supporting a candidate that has a track record of being very pro-crypto (has an A rating on their website) and is also challenging someone who is very anti-crypto (has an F on their website),” Fox Business’s Eleanor Terrett wrote. Read more: Crypto Regulation: What Are the Benefits and Drawbacks? On hindsight, John Deaton secured the Republican nomination for the Massachusetts Senate race in early September. His campaign has attracted significant backing from prominent figures in the cryptocurrency industry, including Ripple executives Chris Larsen and Brad Garlinghouse, as well as Gemini founders Cameron and Tyler Winklevoss. His campaign also received over $1 million in support from the Commonwealth Unity Fund, a crypto-focused political action committee. The highly anticipated debate between Deaton and Warren…

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Filed under: News - @ September 26, 2024 9:22 am