Pro-Crypto Lawyer John Deaton Outpaces Senator Elizabeth Warren in Q1 Senate Bid Fundraising
Summary:
Pro-cryptocurrency lawyer John Deaton has outpaced Senator Elizabeth Warren in fundraising for his bid for her Senate seat, raising $1.36 million compared to Warren's $1.09 million in the first quarter of 2024. Prominent figures in the cryptocurrency universe are among his leading contributors. Deaton, known for defending the interests of XRP investors in a legal battle against Ripple, has been campaigning as a Republican candidate against Warren. The latter, a Democrat serving her eleventh year, has been a consistent critic of the crypto industry, proposing legislation she claims will level the playing field between cryptocurrency and traditional finance.
In the race for a Senate seat, pro-cryptocurrency attorney John Deaton has raised more funds in Q1 of 2024 compared to incumbent Senator Elizabeth Warren, amassing $1.36 million against Warren's reported $1.09 million. A significant portion of Deaton's campaign cash comes from eminent figures within the cryptocurrency industry, including Ripple's Chris Larsen and Brad Garlinghouse, twin brothers and Gemini founders Cameron and Tyler Winklevoss, SkyBridge Capital's Anthony Scaramucci, along with co-founder of Cardano and Ethereum Charles Hoskinson, and Jesse Powell of Kraken.
According to initial data submitted to the U.S. Federal Election Commission, Deaton's total fundraising for the quarter amounts to about $360,700, in addition to the $1 million he personally invested into his campaign.
Deaton is renowned for representing the interests of XRP holders in their legal dispute with the Securities and Exchange Commission against Ripple and announced his bid to unseat Senator Warren as a Republican candidate in February. Warren, who is serving her eleventh year as a Democrat, has consistently criticized cryptocurrency, proposing legislation to provide a more equitable playing field between cryptocurrency and conventional financial markets. However, her critics argue her measures could stifle innovation and investment in the U.S.
Amongst Deaton's largest individual campaign donors were Ripple's Larsen and Garlinghouse, Scaramucci, and the Winklevoss twins, who each donated the total allowable amount of $6,600. Similarly, Cardano's Hoskinson, Kraken's Powell, Casa wallet founder Jameson Lopp, and Ripple legal chief Stuart Alderoty contributed $3,300 to Deaton's campaign.
The next Senate elections are scheduled for November 5, with 34 out of 100 seats up for grabs and the likelihood of a rematch between former President Donald Trump and current President Joe Biden. This also coincides with competition for all 435 seats in the House and the presidential race. Notably, John Deaton is celebrated in the "Crypto Twitter Hall of Flame" for his advocacy of XRP and significant investment in Bitcoin and Ethereum.
Published At
4/15/2024 4:34:14 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.