In a significant political move, Coinbase’s CEO Brian Armstrong and billionaire entrepreneur Elon Musk have endorsed pro-crypto attorney John Deaton in his campaign to challenge Senator Elizabeth Warren for her Senate seat in Massachusetts.
On October 21, Armstrong took to social media platform X (formerly Twitter) to rally support among crypto enthusiasts in Massachusetts for Deaton. He criticized Senator Warren for her involvement in the appointment of Gary Gensler as Chair of the Securities and Exchange Commission (SEC) and accused her of attempting to undermine the crypto sector in the United States.
“Crypto holders in MA should realize Sen Warren is the one who got Gary Gensler his job and encouraged him to (unlawfully) try and kill the crypto industry in America.”
Armstrong further labeled Warren as a proponent of extensive government control, dubbing her “anti-freedom.” He stated:
“She is anti-freedom, thinks the government should run all financial services (similar to China), and has done enormous harm to this country.”
Supporters Rally for Deaton
Armstrong and Musk’s endorsements are part of a broader wave of support for Deaton’s Senate campaign. Notably, earlier this year, Ripple Labs contributed $1 million to Deaton’s campaign through a political action committee known as the Commonwealth Unity Fund.
Tyler Winklevoss, co-founder of the cryptocurrency exchange Gemini, has also called on Massachusetts voters to support Deaton, pointing out Warren’s detrimental actions against the crypto landscape. Additionally, the Winklevoss twins donated another $1 million to a super PAC backing Deaton.
Several other influential figures within the cryptocurrency community, including Cardano’s founder Charles Hoskinson and Ripple’s CEO Brad Garlinghouse, have thrown their support behind Deaton as they perceive him as a crucial ally in combating what they consider to be Warren’s “anti-crypto crusade.”
John Deaton’s Crypto Advocacy
Throughout his career, Deaton has earned a solid reputation as a prominent advocate for Ripple’s XRP and has positioned himself as a vigorous defender of the cryptocurrency sector. His challenge against Warren, known for her aggressive stance against cryptocurrency, has made him a favored candidate within the crypto community.
In response to Deaton’s campaign, Senator Warren has criticized him for his significant financial ties to the crypto industry. During a recent debate, she remarked:
“80% of Mr. Deaton’s wealth is tied up in crypto, 90% of his campaign funding is coming from crypto, and 100% of his loyalty in Washington will be to crypto: that is corruption.”
Current Political Landscape
Despite Deaton’s robust support from the cryptocurrency sector, recent polls show Senator Warren currently leading Deaton by a significant margin of 56% to 34% in potential voter support.
Important Figures in This Article
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