John Deaton, a prominent pro-crypto lawyer, has made waves by surpassing Senator Elizabeth Warren in fundraising for his Senate bid during the first quarter of this year. Deaton’s campaign amassed an impressive $1.36 million, overshadowing Warren’s $1.09 million.
Deaton’s fundraising success can be attributed to a lineup of notable crypto supporters who have backed his campaign. Among his top donors are Ripple executives Chris Larsen and Brad Garlinghouse, Gemini founders Cameron and Tyler Winklevoss, SkyBridge Capital founder Anthony Scaramucci, Cardano and Ethereum co-founder Charles Hoskinson, and Kraken co-founder Jesse Powell.
Preliminary filings with the United States Federal Election Commission (FEC) reveal that Deaton’s contributors contributed nearly $360,700 in the first quarter of 2024, in addition to the $1 million loan he extended to his own campaign. In contrast, Warren’s fundraising total came solely from donors, amounting to just under $1.09 million.
Deaton gained prominence for his defense of XRP holders’ interests during the Securities and Exchange Commission’s legal battle against Ripple. His decision to enter the political arena by announcing his candidacy for Warren’s Senate seat in Massachusetts, running as a Republican against the long-standing Democratic incumbent of 11 years, has captured significant attention.
Senator Warren has been known for her critical stance on cryptocurrencies and has introduced legislation aimed at “leveling the playing field” between crypto and traditional financial markets. However, critics argue that her proposed bills could stifle innovation and investment in the United States’ crypto sector.
The fundraising competition between Deaton and Warren highlights the growing influence of the crypto community in shaping political landscapes. Deaton’s ability to rally substantial financial support from prominent figures in the crypto industry underscores the industry’s determination to have a voice in legislative matters impacting their interests.
As the battle for Warren’s Senate seat unfolds, all eyes will be on how Deaton’s pro-crypto platform resonates with voters and whether Warren’s established political track record can withstand the momentum of a formidable challenger backed by a passionate community.
