Crypto Super PAC FairShake Faces Backlash For Not Backing John Deaton

FairShake, a prominent crypto Super PAC, is under heavy scrutiny from crypto enthusiasts for not supporting John Deaton in his electoral campaign. Deaton, a pro-XRP lawyer known for representing XRP holders against the SEC, is running against Senator Elizabeth Warren, a notable anti-crypto figure.

Notably, this decision by FairShake has ignited considerable debate in the crypto community.

FairShake Faces Criticism For Not Supporting John Deaton

On The Chain co-founder Stephen Chip, known as Chip-onthechain.io on X, criticized Fairshake for their apparent partisan leanings. Chip noted that FairShake had raised $160 million by May end and predominantly supported Democratic candidates.

Notably, he highlighted that 90% of FairShake’s donations went to Democrats, many of whom hold anti-crypto positions. In a recent post, Chip questioned the organization’s lack of support for pro-crypto candidates, particularly John Deaton.

In addition, Chip pointed out that Crypto Super PAC FairShake had contributed $10 million to Adam Schiff’s primary race, despite Schiff’s minimal support for crypto. Conversely, pro-crypto candidate Richie Torres received only $63,084 from FairShake.

Meanwhile, this disparity in funding allocation has led to widespread discontent among crypto advocates, who see Deaton as a crucial ally in the fight for favorable crypto regulations. FairShake’s omission of support for Deaton, who successfully represented 76,000 XRP holders against the SEC, has left many puzzled.

Chip asked for transparency from the organization, questioning why they have not contributed to Deaton’s campaign while backing candidates with less pro-crypto stances.

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Community Demands Transparency

FairShake’s actions have prompted significant backlash within the cryptocurrency community. Crypto enthusiast Moonchaser joined the discussion, expressing surprise at FairShake’s lack of support for Deaton despite his contribution towards Ripple. Moonchaser’s query reflects a broader concern among crypto proponents about the organization’s strategic choices.

In addition, Yassin Mobarak, founder of Dizer Capital and a prominent crypto figure, voiced his frustration, stating, “If this is true, it is unacceptable.” Mobarak’s comment reflects the dissatisfaction among crypto supporters who believe that FairShake’s financial resources should be directed toward candidates who actively advocate for the crypto sector.

Meanwhile, the controversy surrounding the Crypto Super PAC’s decisions has intensified calls for the organization to clarify its stance and funding allocations. Furthermore, crypto supporters argue that backing candidates like Deaton is essential for advancing favorable crypto regulations and protecting the interests of the community.

As the debate unfolds, the crypto community remains vigilant, urging FairShake to align its actions with the interests of crypto proponents and provide transparency in its funding strategies.

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