All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- John Deaton, the pro-XRP lawyer and founder of CryptoLaw, reportedly holds 80% of his personal wealth in Bitcoin and other crypto, making him among the most bullish politicians in America.
- Deaton is vying for the Massachusetts Senate seat against incumbent Elizabeth Warren, who has held it for a decade and whose crypto stance couldn’t be more contrasting.
Cryptocurrency will be a key issue in the upcoming US elections, with pro-crypto Donald Trump squaring off against Kamala Harris, under whose tenure as Vice President, crypto has been pushed to the wall. However, there’s no political war where crypto is much more central than in the race to clinch the Massachusetts Senate seat where the leader of anti-crypto movements in Congress, Elizabeth Warren, battles against John Deaton, one of the most pro-crypto politicians in the country.
Deaton is well-known in the XRP ecosystem as one of the most tireless supporters of Ripple in its fight against the SEC. He now vies for the Senate seat on a Republican ticket against Warren, a staunch Democrat who has held the seat since 2013.
FOX Business reporter Eleanor Terrett recently revealed that Deaton walks the talk and has been holding most of his wealth in crypto. She tweeted:
Is Massachusetts Senate candidate John Deaton the biggest holder of Bitcoin of any elected official/candidate? His recent financial disclosures show that around 80% of his net worth is in BTC or BTC-related investments. He also owns ETH, SOL and XRP.
The Crypto Election
The Massachusetts Senate seat is critical for cryptocurrencies. Not only would it introduce one of the most pro-crypto voices in Washington, but it would also get rid of one of the biggest sceptics.
This has made Deaton popular with the crypto elites, many of whom are donating generously to help him outfox one of the key leaders of the Democratic Party, which would be no mean feat. Ripple, a company which has received overwhelming support from Deaton in its legal fight with Gensler, is among the biggest donors.
Earlier this month, the California company donated $1 million to the Commonwealth Unity Fund, Deaton’s super PAC. In their personal capacities, XRP founder Chris Larsen and Ripple CEO Brad Garlinghouse donated $6,600 each to Deaton, the maximum individual donation limit.
Meanwhile, XRP trades at $0.6031, dipping 4.4% in the past day amid a broader market rout.
Beyond Deaton, the cryptocurrency community is beefing up its support for pro-crypto candidates and donating millions to oust anti-Bitcoin lawmakers. This week, it emerged that Fairshake, a pro-crypto super PAC, has become the largest fundraiser this election cycle, with over $200 million—more than Trump’s Make America Great Again super PAC.
Some of the biggest cryptocurrency firms have donated generously. Ripple leads at $50 million, split in two payments, with Coinbase and crypto investor a16z also donating $25 million each.
“We, along with others in the industry, have helped fund Fairshake SuperPAC to help elect pro-crypto candidates and defend the rights of our customers,” Coinbase said while making the donation.
