The Stand With Crypto PAC, backed by Coinbase, has recently thrown its support behind John Deaton, a well-known pro-XRP attorney. The XRP lawyer is currently running against Massachusetts Senator Elizabeth Warren. Deaton, who has been a vocal opponent of the U.S. Securities and Exchange Commission’s (SEC) actions in the crypto sector have garnered significant attention from the crypto community.
Stand With Crypto Backs XRP Lawyer John Deaton
Deaton’s legal battles with the SEC, especially his defense of the XRP community, have solidified his reputation as a key figure in the fight against regulatory overreach in the crypto industry. Moreover, his campaign against Senator Warren, a figure often seen by crypto enthusiasts as anti-crypto, has gained momentum.
Many in the crypto space view Warren’s stance as a barrier to innovation and growth in blockchain and digital currencies. The endorsement of Deaton by Coinbase-backed Stand With Crypto PAC highlights the growing interest in the intersection of politics and crypto regulation. This backing comes as part of a broader effort by the PAC to support candidates who advocate for pro-crypto policies, particularly in the upcoming U.S. elections.
In addition to John Deaton, the Stand With Crypto PAC has also extended its support to other political figures, such as Senators Ted Cruz and Marsha Blackburn. These endorsements reflect the group’s intention to back lawmakers who are committed to fostering innovation in the crypto and Web3 domain.
View all of our endorsed candidates: https://t.co/t2XXa7N2QL
— Stand With Crypto🛡️ (@standwithcrypto) September 27, 2024
The PAC’s decision to support the XRP lawyer comes after months of his outspoken criticism of Warren, whom he accuses of stifling crypto innovatio through her tough regulatory stance. Warren, a longtime advocate for stronger financial regulations, has faced increasing pushback from the cryptocurrency industry, with many arguing that her policies could hinder the growth of blockchain technology in the U.S.
Eleanor Terrett, a journalist from Fox, recently highlighted the news of Deaton’s endorsement in a post on X, which has garnered widespread support from the crypto community. Moreover, several crypto enthusiasts see Deaton’s candidacy as an opportunity to challenge the status quo in Washington.
Other Endorsements
Stand With Crypto PAC also emphasized the importance of the upcoming U.S. election, urging the crypto community to engage politically. The group’s recent post on X called on the crypto world to mobilize, aiming to help elect lawmakers who understand the transformative potential of blockchain technology.
Moreover, the PAC has made it clear that the upcoming election will be a game-changer for the future of crypto regulation in the United States. Hence, they are rallying support for pro-crypto candidates for the U.S. Senate and House.
Other notable endorsements from the PAC include several members of the House of Representatives, such as Jake Auchincloss, Byron Donalds, Tom Emmer, and Ritchie Torres. This bipartisan support reflects the growing recognition of crypto as a critical issue, which is beyond party lines.
Also Read: Ripple Woes Loom: SEC Might Appeal in XRP Case
Source: https://www.cryptonewsz.com/xrp-attorney-john-deaton-coinbase-backed-pac/