Ripple Labs Donates $1M to Support Crypto Attorney John Deaton’s Campaign Against Sen. Elizabeth Warren

Ripple Labs has contributed $1 million to support the campaign of crypto attorney John Deaton, who is running against Sen. Elizabeth Warren (D-MA), a prominent critic of the crypto industry. This donation was made to the Commonwealth Unity Fund, a super PAC created to back Deaton’s challenge against Warren in November. Ripple’s donation represented most of the PAC’s funding for the last quarter, indicating the company’s strong support for Deaton’s campaign.

While the crypto sector has previously backed various political contests, Warren’s potential defeat is viewed as a significant victory for the industry. Warren has been vocal in her criticism of crypto and is considered instrumental in shaping President Joe Biden’s negative stance towards the sector. In a notable move earlier this year, a super PAC backed by Ripple, Coinbase, and Andreessen Horowitz spent $3 million to oppose a California Senate candidate perceived as a Warren ally, underscoring the industry’s strong opposition to her influence.

Ripple’s motivation in supporting Deaton stems from its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which seeks a substantial penalty against the company. However, overcoming Warren in the election may prove challenging, as recent polls indicate her lead over potential Republican opponents. Deaton must secure victory in the Republican Senate primary in Massachusetts to face Warren in November, highlighting the tough political landscape Ripple hopes to navigate with its significant financial backing.