- XRP lawyer John Deaton has launched his campaign against anti-crypto Elizabeth Warren for the Massachusetts Senate seat.
- Deaton has received massive support from the crypto community, most recently from Cardano co-founder Charles Hoskinson, who donated over $3,000.
An XRP lawyer has recently announced that he is challenging Democratic U.S. Sen. Elizabeth Warren. John Deaton, who moved from Detroit to Massachusetts, plans to unseat the formidable senator as she runs for her third term in office.
As Deaton continues to enjoy mass support from the crypto community, one of the most influential people in the industry has given his backing. Cardano founder Charles Hoskinson has not only confirmed his support but also donated $3,300 to the campaign.
Sharing the news on the X platform, Hoskinson revealed that he had donated the maximum amount. “I just donated the maximum amount allowed for @DeatonforSenate in his fight against Elizabeth Warren for Senate. We need people willing to take on the establishment against banks writing our laws and destroying the crypto industry.” He added.
I just donated the maximum amount allowed for @DeatonforSenate in his fight against Elizabeth Warren for Senate. We need people willing to take on the establishment against banks writing our laws and destroying the Crypto industry. pic.twitter.com/tTxmghBhUH
— Charles Hoskinson (@IOHK_Charles) March 3, 2024
The massive support from the crypto world comes as no surprise due to Elizabeth Warren’s anti-crypto stance. As CNF recently reported, the legislator has criticized the SEC for approving Bitcoin ETFs, citing concerns about crypto regulation and the need for anti-money laundering rules. Furthermore, Warren is pushing her Digital Asset Anti-Money Laundering Act, gaining support from other senators, to extend oversight in the digital asset industry.
In the past, it has been suggested that Waren is working with SEC Chair Gary Gensler to frustrate the crypto market. Through her office, she has tried to influence the crypto market. In her view, the crypto market poses a threat to financial stability, forcing the US authorities to propose a bipartisan Digital Asset Anti-Money Laundering Act.
The new bill would demand Know-Your-Customer (KYC) verification for wallets, wallet providers, miners, etc. The bill has received support from senators including “Raphael Warnock (D-Ga.), Laphonza Butler (D-Calif.), Chris Van Hollen (D-Md.), all members of the Senate Banking, Housing, and Urban Affairs Committee, and Senators John Hickenlooper (D-Colo.) and Ben Ray Luján (D-N.M.) have added their support.
Crypto Stance Taking Center Stage in Upcoming Election
While some of her calls could help strengthen the industry and reduce investor risks, it remains curious how she has not questioned the SEC or Gensler about their interactions with Sam Bankman-Fried (SBF) of the now-defunct FTX crypto exchange.
The crypto stance has emerged as a key factor in the upcoming elections, including for the presidential seat. While major presidential candidates, Joe Biden, and Donald Trump, are pro-dollar and anti-Bitcoin, both have been embracing the industry. Trump in particular has been releasing NFTs and has recently stated that he can find a way to live with Bitcoin. Biden, on the other hand, has on several occasions shared his image with laser eyes, appearing to support the Bitcoin community.
