Ripple Contributes $1 Million To Unseat Elizabeth Warren

Ripple has contributed $1 million to support XRP advocate John Deaton in his campaign against Senator Elizabeth Warren in the Massachusetts Senate race.

The funds are being funneled into the Commonwealth Unity Fund, a new super PAC created by attorney James Murphy, who contributed $50,000 on April 15 to the cause.

Ripple Support for XRP Advocate Deaton

In February, John Deaton officially entered the race for the Republican nomination for the United States Senate in Massachusetts to challenge Democratic Sen. Elizabeth Warren in the November election. Deaton is one of several candidates competing in the Republican primary, scheduled for September 3.

🚨 SCOOP: @Ripple has given $1 million to the Commonwealth Unity Fund, a new super PAC created by attorney James Murphy, aka @MetaLawManunseat @SenWarren and elected @JohnEDeaton1 as the next senator from Massachusetts. Murphy donated $50,000.

More details and story to come. pic.twitter.com/32kadpAkE1

— Eleanor Terrett (@EleanorTerrett) July 15, 2024

In April, Ripple executives Brad Garlinghouse and Chris Larsen each contributed $6,600 to John Deaton’s campaign. According to Politico, they split their donations into two parts: half for the primaries and half for the general election.

Along with Ripple executives, other prominent figures in the crypto space, such as Cardano founder Charles Hoskinson, have also backed Deaton. As of April, Attorney Deaton had raised $1.26 million, with most of the funds coming from crypto enthusiasts.

Meanwhile, Ripple is currently involved in a legal battle with the US Securities and Exchange Commission regarding the sale of XRP, which the SEC claims is an unregistered security.

Last year in July, Judge Analisa Torres ruled that Ripple’s secondary sales of XRP through a blind bidding process did not violate securities laws. However, direct sales to institutional investors were considered securities investment contracts.

Crypto investors rally behind pro-crypto candidates

The Massachusetts senatorial election is currently a battleground between anti- and pro-crypto forces. John Deaton, a former Marine and attorney known for his role in the Ripple v. SEC case, is leading the pro-crypto side. Their efforts helped secure a ruling that Ripple’s XRP sales are not investment contracts.

Senator Elizabeth Warren, a veteran politician, leads the anti-crypto side. She is known for her push to ban cryptocurrencies and limit their growth.

Meanwhile, crypto companies have been funding super political action committees, pouring around $150 million to support pro-crypto candidates. In May, Ripple announced an additional $25 million donation to the Fairshake super PAC, supporting pro-crypto political candidates in the 2024 US election, following a similar donation in 2023. Coinbase and a16z crypto also are contributing to Fairshake this year.

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