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HomeFinance NewsWarren’s opponent secures cryptocurrency super PAC subsidies for campaign in less than...

Warren’s opponent secures cryptocurrency super PAC subsidies for campaign in less than 13 words.

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Many prominent figures within the cryptocurrency community are rallying behind attorney John Deaton’s bid to unseat Massachusetts Senator Elizabeth Warren in the upcoming election, as reported by Politico. Deaton, known for his support of Ripple (XRP) and involvement in key crypto cases, founded CryptoLaw and has been vocal about his disagreements with Warren and SEC Chair Gary Gensler on crypto regulation. Despite his significant ties to the crypto industry, Deaton has emphasized that he is not running a campaign solely focused on crypto issues but rather addressing Warren’s policies directly.

A recent poll conducted by Boston.com indicates that 57% of readers believe Deaton, or another Republican challenger, could potentially defeat Warren in the upcoming election. Industry leaders, such as Ripple CEO Brad Garlinghouse, Anthony Scaramucci, the Winklevoss twins, and executives at Ripple, are actively raising funds to support Deaton’s campaign. This influx of support highlights a growing movement within the crypto community to challenge political incumbents who are critical of the industry, with significant donations from crypto-focused PACs aiming to influence key races across the country.

The donations to Deaton’s campaign reflect a broader trend of crypto industry players flexing their political muscle to support candidates aligned with their interests and push back against opponents like Warren who advocate for stricter regulations. This shift was exemplified by the defeat of Rep. Katie Porter in California’s Senate primary, where she faced criticism from Fairshake, a crypto super PAC, for her previous remarks on the industry. The outcome of these political contests underscores a changing landscape where digital asset-friendly candidates are gaining traction, challenging established figures like Warren in the political arena.

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