Regulation

Ripple CEO Endorses John Deaton To Unseat Senator Warren

Published

2 months ago

October 23, 2024

Ripple CEO Brad Garlinghouse has endorsed John Deaton, a pro-XRP lawyer, in his bid to unseat Senator Elizabeth Warren in the Massachusetts Senate race. Garlinghouse praised Deaton for his advocacy for the crypto community, particularly the XRP Army, while accusing Warren of spreading misinformation about the industry.

Ripple CEO Brad Garlinghouse Backs John Deaton’s Campaign

In a recent post on X (formerly Twitter), Garlinghouse shared a link to Deaton’s campaign website and asked people to donate money to the campaign and, if they live in Massachusetts, to vote for Deaton. According to Garlinghouse, Deaton is a true fighter for the entire crypto industry and is much more suitable for the post than Warren.

The endorsement of Ripple CEO comes at the back of the ongoing feud between crypto enthusiasts and politicians, with Warren as the latter’s advocate.

As a legal representative of XRP holders in the case against the SEC, John Deaton is now amplifying his political aspirations to counter Warren’s position on crypto regulation.

Deaton and Musk Criticize Warren’s Inflation Claims

John Deaton and Elon Musk have both taken to Twitter to criticize Senator Elizabeth Warren regarding her views on inflation. Warren recently blamed the increase in prices on corporate greed that led to criticisms from Deaton and other key personalities in the crypto market.

In response to Warren’s claims, Deaton shifted the blame to government policies, explaining that 80% of all US dollars in circulation have been printed over the last four years by the government.

Musk agreed with Deaton’s position and said that the U.S. could go bankrupt if it does not cut government spending significantly. This public feud has demonstrated the increasing rift between the crypto enthusiasts and politicians like Warren who are considered as enemies of digital currencies.

Crypto Industry Leaders Rally Behind Deaton

The pro-XRP lawyer John Deaton has received a lot of backing from major personalities within the crypto sector, including Tesla CEO Elon Musk and Coinbase CEO Brian Armstrong. Armstrong called on the voters of Massachusetts to vote for Deaton and accused Warren of contributing to the appointment of SEC chair Gary Gensler, who the crypto community considers an opponent.

Armstrong also claimed that Warren called for the government to take control of the financial sector and is attacking the crypto industry to undermine the growth of the industry. He pointed out that even with Warren’s moves, the crypto industry keeps on thriving. Armstrong and other have also highlighted that Deaton has come out in the defense of the rights of the cryptos and therefore support for his bid to join the senate is good.

With the 2024 Senate race around the corner, Senator Elizabeth Warren continues to come under immense pressure from the crypto industry. Warren, a Democrat and a well-known skeptic of the cryptocurrency industry, has long advocated for stronger regulation and has played a major role in defining the US financial policy. Nonetheless, her position has made her unpopular in the crypto community with people like Deaton coming out in support of crypto freedom.