Crypto Proponents Backing Attorney John Deaton to Challenge Elizabeth Warren in Senate Race

Crypto executives are putting their money where their mouth is by supporting attorney John Deaton’s bid to unseat Massachusetts Senator Elizabeth Warren. Deaton, known for his support of Ripple (XRP) and involvement in landmark crypto cases, has been vocal about his disagreements with Warren and SEC Chair Gary Gensler on crypto regulation.

Despite his significant involvement in crypto, Deaton has stated that he is not running on a crypto platform. His decision to enter politics stems from a desire to address Warren’s policies directly, particularly her stance against the crypto industry, which has sparked debates within the community.

A recent poll shows that 57% of readers believe Deaton or another Republican challenger could beat Warren in the upcoming election, indicating her vulnerability. Industry bigwigs and Warren critics, including Ripple CEO Brad Garlinghouse and billionaire Mark Cuban, have endorsed Deaton and are raising funds to defeat her.

The influx of donations underscores a broader effort by crypto-focused PACs to support candidates aligned with the industry’s interests. Warren’s staunch opposition to crypto has made her a prime target for these PACs, who have donated substantially to candidates in recent primary contests.

The shifting political landscape regarding digital asset-friendly candidates and their opponents was highlighted by Rep. Katie Porter’s loss in the California primary election, trailing behind Republican Steve Garvey and Democratic Rep. Adam Schiff. This outcome signals a growing influence of the crypto industry in politics and its ability to support candidates who align with its interests.