Ripple Donates $1 Million to Support Ally John Deaton’s Challenge Against Elizabeth Warren

Ripple is showing its support for long-time ally John Deaton by donating $1 million to the Commonwealth Unity Fund, a super PAC aimed at bolstering Deaton’s campaign in the Republican senatorial primary against Elizabeth Warren. Deaton, known for his backing of Ripple Labs, is challenging Senator Warren, a vocal critic of cryptocurrencies. The lawyer’s efforts have garnered attention from the crypto community for his role in advocating for Ripple amid legal battles.

The Commonwealth Unity Fund, established by lawyer James Murphy, has also received contributions from Ripple Labs and James Murphy himself. The PAC has directed funds towards supporting Deaton’s campaign, which has raised $1.7 million so far. Despite notable support from figures like Ripple co-founder Chris Larsen and Kraken co-founder Jesse Powell, Deaton faces opposition from other pro-crypto groups such as Fairshake and Stand with Crypto, who have not backed his candidacy. Senator Warren, on the other hand, has accumulated a substantial war chest of $18 million.

While Deaton’s campaign has attracted prominent names in the crypto industry, such as the Winklevoss twins and Coinbase executives, polling data shows Warren enjoying a significant lead in the race for the Senate seat. The outcome of the senatorial primary on November 5th will determine whether Deaton can leverage Ripple’s support to unseat Senator Warren, a formidable opponent in the realm of cryptocurrency regulation.