Crypto Leaders Helped John Deaton Outraise Sen Warren In Senate Bid

Godfrey Benjamin
April 12, 2024
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John Deaton Calls Out Elizabeth Warren Crypto Stance and Bank Lobbying Ties

Highlights

  • John Deaton has outraised Senator Elizabeth Warren
  • Deaton has reportedly pulled $1.36million as against Warren's $1.1 million
  • Major crypto leaders are reportedly behind the Deaton raise

The race on who gets to represent Massachusetts at Capitol Hill is kicking off to a competitive start as top crypto leaders have placed their bet on pro-XRP lawyer John Deaton. This support is showcased by how Deaton has outraised cryptocurrency adversary and incumbent Senator Elizabeth Warren by $0.26 million.

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John Deaton Bags Crypto Leaders’ Support

In an X post, Eleanor Terrett, a Fox Business News reporter, revealed that in the first quarter, Deaton’s total revenue figures totaled $1.36 million, surpassing Warren’s $1.1 million.

The funds, according to the Federal Election Commission, were donated by prominent figures in the crypto industry including Brad Garlinghouse, Ripple CEO, Chris Larsen, Co-founder and Executive Chairman of Ripple, as well as Anthony Scaramucci, the crypto evangelist and founder of SkyBridge Capital.

Although the bid to unseat Sen Warren in deep-blue Massachusetts is a longshot, it has not stopped the crypto leaders from pouring in funds to support Deaton. Larsen pitched in a donation of $6,600 — half for the primary, half for the general election, according to Deaton’s campaign.

Other big donors include Cameron and Tyler Winklevoss, who co-founded the crypto exchange Gemini. The duo doled out $6,600 each. Two other crypto executives, Cardano founder Charles Hoskinson and Casa co-founder Jameson Lopp also supported the campaign. They both donated the primary maximum of $3,300.

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Crypto Deep Pockets Versus Small Donors

This influx of support from the crypto industry might be linked to Senator Warren’s unyielding stance against crypto and Artificial Intelligence (AI). She insisted that the crypto industry must be placed under the same regulatory standards as traditional financial institutions.

Senator Warren, on her part, has been busy as the $1.1 million raised in the first quarter was from 29,622 donors. As detailed, 99 percent of those contributions come in at $100 or less. According to her campaign office, Warren has more than $4.4 million stashed in her campaign coffers.

Last month, John Deaton criticized Warren for resorting to funding from Washington elites while appealing for donations via traditional means or crypto as freedom was on the line. He emphasized that he had a strong chance of defeating the incumbent lawmaker, hence he pitched in over $500,000 of his money.

Despite the support John Deaton is receiving from the crypto leaders, political analysts maintain that the donations may not be all that he needs to unseat the seasoned Sen Warren who was a former presidential aspirant and a two-time senator.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.