Cryptocurrency litigator John Deaton is off to a strong start in his bid to oust Massachusetts Sen. Elizabeth Warren from Congress, at least when it comes to fundraising.
John Deaton campaign fundraising
The lawyer-turned-senator candidate raised $1.36 million for his campaign in the first quarter, compared to $1.1 million for Warren, Fox Business' Eleanor Terret reported.
“According to his campaign, Mr. Deaton will be joined by Ripple executives Brad Garlinghouse, Chris Larsen, Cameron and Tyler Winklevoss, Charles Hoskinson, Jameson Ropp, and Anthony Scaramucci. “We have received donations from some of the biggest names in the crypto industry,” Terret said. I have written Go to X on Friday.
according to politikodonors including Garlinghouse, Larsen, Scaramucci, and the Winklevoss twins contributed up to $6,600 to his campaign.
🚨New: According to the Federal Election Commission, @Deaton Senator condemned @senwarren In the first quarter, Deaton had total revenue of $1.36 million and Warren $1.1 million.
His campaign says Mr. Deaton has received donations from some of the world's biggest names. #cipher industry…
— Eleanor Terrett (@EleanorTerrett) April 12, 2024
Mr. Deaton's large, largely corporate funding is in line with Mr. Warren's warning to supporters in February in anticipation of Mr. Deaton's campaign announcement. “I'm not afraid, but this means we need to be prepared to fight funding from powerful special interests, Wall Street and the Republican Party,” she said at the time.
Deaton's history with the crypto industry is no secret. He is best known for representing 75,000 XRP holders in a lawsuit against the Securities and Exchange Commission (SEC) that concluded last year, with a mostly favorable outcome for Ripple. .
He also criticized the SEC for dealing harshly with the crypto industry in several other high-profile cases, including a dispute with Grayscale, the issuer of the world's largest Bitcoin ETF. The lawsuit ultimately forced the SEC to allow trading in the Bitcoin Spot ETF, a move that Elizabeth Warren loudly opposed.
Is Elizabeth Warren worried?
Beyond cryptocurrencies, Warren and Deaton have sharply disagreed on other partisan topics, including student loan forgiveness, the immigration crisis, and the Federal Reserve's accommodative monetary policy.
“I've been the underdog all my life, beating the odds, and I'm going to do it again. The only difference this time is the world will be there to witness it.” Deaton I have written Go to X on Friday.
My friend is a registered Democrat in Texas. He called me the other day and said he had received a number of emails. @ewarren, mentioned my name and called me a serious threat to her seat. I reminded him that it wasn't her seat and that I was going to take it back, and…
— John E. Deaton (@JohnEDeaton1) April 12, 2024
