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Home » Crypto supporters of John Deaton surpass Warren in Senate campaign fundraising.
Crypto supporters of John Deaton surpass Warren in Senate campaign fundraising.
Crypto supporters of John Deaton surpass Warren in Senate campaign fundraising.

Crypto supporters of John Deaton surpass Warren in Senate campaign fundraising.

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By admin on 2024-04-15 Regulations Security

John Deaton, a lawyer known for his support of cryptocurrencies, has surpassed Senator Elizabeth Warren in fundraising for his campaign to secure her Senate seat. Deaton raised $1.36 million in the first quarter of this year, while Warren raised $1.09 million.

A notable group of cryptocurrency advocates have backed Deaton’s campaign, including Ripple executives Chris Larsen and Brad Garlinghouse, Gemini founders Cameron and Tyler Winklevoss, SkyBridge Capital founder Anthony Scaramucci, Cardano and Ethereum co-founder Charles Hoskinson, and Kraken co-founder Jesse Powell.

According to preliminary filings with the United States Federal Election Commission (FEC), Deaton’s supporters have contributed nearly $360,700 for the first quarter of 2024. Additionally, Deaton personally loaned his campaign $1 million.

In contrast, Warren’s campaign funds came solely from individual donors, totaling just under $1.09 million.

Deaton gained recognition for his defense of XRP holders in the Securities and Exchange Commission’s legal battle against Ripple. He officially announced his candidacy for Warren’s Senate seat in February, running as a Republican against the 11-year Democratic incumbent.

Warren has been a vocal critic of cryptocurrencies and has introduced legislation aimed at “leveling the playing field” between crypto and traditional financial markets. Critics argue that these bills would stifle innovation and investment in the United States.

Notably, Deaton received maximum donations of $6,600 each from Ripple’s Larsen and Garlinghouse, Scaramucci, and the Winklevoss twins. Cardano’s Hoskinson, Kraken’s Powell, and Casa wallet founder Jameson Lopp also contributed $3,300 each to Deaton’s primary campaign. Ripple’s legal chief Stuart Alderoty made the same donation.

The U.S. Senate elections, along with the presidency and all 435 seats in the House, are scheduled for November 5. It is expected that former President Donald Trump will once again face off against President Joe Biden.

Magazine: Pro-XRP lawyer John Deaton reveals increased investments in BTC and ETH.

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