Ripple, a San Francisco-based cross-border payment company, has made a huge donation to support Attorney John Deaton’s bid to become the next Massachusetts Senator.
According to FOX Business journalist Eleanor Terrett, Ripple donated $1 million to the Commonwealth Unity Fund, a political action committee (PAC) established by pro-XRP lawyer James Murphy. This donation aims to promote Deaton’s candidacy and remove Senator Elizabeth Warren from her position.
Prior Support to Deaton’s Campaign
Many people have contributed to this initiative, including Attorney Murphy who contributed $50,000. Ripple had previously supported Deaton’s campaign in April, with executives Brad Garlinghouse and Chris Larsen donating the maximum individual campaign contribution of $6,600.
Other crypto proponents, such as Cardano founder Charles Hoskinson, have also supported Deaton’s bid to unseat Senator Warren. As of April, Attorney Deaton had raised $1.26 million, with most of the funds provided by crypto enthusiasts.
The Massachusetts senatorial election has become a significant political showdown between the Pro-Crypto and Anti-Crypto factions. Attorney Deaton, a former U.S. Marine and lawyer, is focused on promoting the growth of the U.S. crypto industry.
He played a crucial role in the lawsuit between the U.S. SEC and Ripple, which resulted in Judge Torres declaring that Ripple’s programmatic sales and distributions of XRP do not constitute an investment contract or security.
On the other hand, Senator Warren is a seasoned politician with over a decade of experience. She has been vocal about her anti-crypto stance and efforts to ban the emerging asset class. Given her commitment to stifle the growth of the U.S. crypto industry, it’s not surprising that industry executives are actively donating to Attorney Deaton’s campaign in an attempt to unseat Warren.
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Conclusion
As the election approaches, the crypto community is closely watching the developments in Massachusetts. A win for Attorney Deaton would be seen as a significant victory for the Pro-Crypto faction and a blow to Senator Warren’s efforts to restrict the industry. The outcome of this election will have far-reaching implications for the future of cryptocurrency in the United States.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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