The race for Massachusetts’ representative at Capitol Hill is heating up, with pro-XRP lawyer John Deaton emerging as a strong contender. His support from crypto industry leaders is evident in his fundraising efforts, which have surpassed those of cryptocurrency critic and current Senator Elizabeth Warren by $0.26 million.
John Deaton Bags Crypto Leaders’ Support
In a recent post on X, Eleanor Terrett from Fox Business News disclosed that Deaton earned a revenue of $1.36 million during the first quarter, which was more than Warren’s $1.1 million.
ALTERNATE VERSION: The Federal Election Commission reports that @DeatonforSenate gathered a greater total income of $1.36M during the initial quarter, surpassing @SenWarren’s earnings of $1.1M.
Based on his political campaign’s reports, Deaton has been given contributions by influential individuals within the cryptocurrency sector.
— Eleanor Terrett (@EleanorTerrett) April 12, 2024
Prominent leaders in the cryptocurrency sector, such as Brad Garlinghouse (Ripple‘s CEO), Chris Larsen (Ripple‘s co-founder and Executive Chairman), and Anthony Scaramucci (crypto advocate and SkyBridge Capital founder), have reportedly contributed the funds, according to the Federal Election Commission.
Despite it being a difficult task to overthrow Sen. Warren in heavily Democratic Massachusetts, cryptocurrency leaders have still been generous with their financial support for Deaton. Larsen contributed $6,600 towards this cause, with half going towards the primary and the other half towards the general election, as stated by Deaton’s campaign.
Large contributors to the campaign besides include the Winklevoss twins, Cameron and Tyler, who established the cryptocurrency exchange Gemini. They individually contributed $6,600. Additionally, Charles Hoskinson, founder of Cardano, and Jameson Lopp, co-founder of Casa, are other crypto industry leaders who backed the campaign. Each donated the maximum amount of $3,300.
Crypto Deep Pockets Versus Small Donors
The surge of backing from the cryptocurrency sector could potentially stem from Senator Warren’s firm position against crypto and AI. She repeatedly called for applying the same regulatory frameworks to crypto businesses as those in the conventional finance world.
Senator Warren reported an impressive first-quarter fundraising total of $1.1 million from a large pool of 29,622 supporters. Notably, 99% of these contributions were valued at $100 or below. Her campaign team announced that Warren currently holds over $4.4 million in her campaign funds.
Recently, John Deaton accused Warren of relying on financial support from prominent Washington figures while simultaneously soliciting donations through conventional methods and cryptocurrency during a critical moment. Deaton emphasized his confidence in defeating the current representative, leading him to contribute over half a million dollars of his own funds.
Although cryptocurrency influencer John Deaton has gained backing from industry figures, political experts are of the opinion that his campaign donations might not be sufficient to defeat Senator Elizabeth Warren, a previous presidential candidate and two-term senator.
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2024-04-12 19:58