Crypto company Ripple has donated $1 million in support of pro-XRP candidate John Deaton as they seek to unseat US Senator Elizabeth Warren. Both candidates are vying for the Massachusetts seat, with the latter being an outspoken advocate of anti-crypto legislation.
Filings reveal that the XRP issuer has funded a super PAC named the Commonwealth Unity Fund. Created by John Murphy, it is set to challenge Warren and her consistent stance against the asset class. Ripple has been caught in a years-long legal battle with the SEC, and has a vested interest in clearer regulation in the country.
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Ripple Donates to John Deaton, Seeks to Challenge Elizabeth Warren
Crypto has never been as important to a presidential election than it is in 2024. Both sides have clear stances on the assets. Moreover, politicians are building campaigns with clear opinions on its place in the market. Yet, crypto companies are using their influence as well.
The latest effort comes from Ripple, whose $1 million donation to pro-XRP lawyer John Deaton is seeking to unseat US Senator Elizabeth Warren. Deaton has been well-known for his criticism of the SEC and anti-cryptocurrency stances. James Murphy called the candidate a “uniter,” in a post to X (formerly Twitter).
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“For me and my family, this election is simply too important to just stand on the sidelines,” Murphy said. “We desperately need a uniter like John Deaton in the Senate.” Ripple isn’t the only company providing support for candidates that are for the crypto market.
The Super PAC Fairshake has seen firms like Coinbse and a16z crypto join Ripple in supporting cryptocurrency advocates throughout the 2024 elections. Additionally, The Wall Street Journal reported Donald Trump has received $3 million in crypto donations. He has committed to the industry throughout his campaign thus far. Moreover, he will be speaking at this month’s Bitcoin conference.