Bitrabo Editorial
With only 15 days until the US general elections, Elon Musk, CEO of Tesla and a notable Dogecoin advocate, is actively participating in politics by endorsing pro-XRP attorney John Deaton, who is challenging Massachusetts Senator Elizabeth Warren, known for her negative views on cryptocurrency.
Musk’s Support for Crypto Advocates?
Musk’s endorsement follows a tweet from Coinbase CEO Brian Armstrong urging voters in Massachusetts to support Deaton. Armstrong pointed out that Warren was influential in appointing Gary Gensler as the chair of the Securities and Exchange Commission (SEC), an action he believes has harmed the crypto sector.
Musk affirmed Armstrong’s comments, reinforcing his connection with the increasingly pro-crypto Republican Party, which includes Donald Trump, who has promised to advocate for the industry if he returns to the presidency in January.
Armstrong described Warren as “anti-freedom,” believing that she wants the government to govern financial services like in China. Musk responded positively with a simple “Yes,” indicating his alignment against Warren’s policies. Armstrong stated:
Crypto supporters in MA should understand that @SenWarren was the one who got Gary Gensler appointed and encouraged him to try to stifle the crypto industry in America. Thankfully, we fought back successfully.
Warren’s Views on Crypto During Debate with Deaton
The political scene intensified after a debate between Warren and Deaton, where Senator Warren unexpectedly showed a possible willingness to accept digital assets, provided the crypto sector follows rules similar to those of traditional financial entities.
According to Bitrabo, Warren, who has traditionally opposed crypto, stated, “I’m open to having a crypto system if people wish to engage in buying and selling crypto. I just want some basic fair regulations,” which signals a shift from her former adversarial stance on cryptocurrencies.
Deaton challenged this viewpoint, claiming “the rules are already established” and questioned her motivations for her anti-crypto opinions. He also criticized Warren for the negative impact her policies have on the working class, arguing they “harm low-income individuals.”
Throughout the debate, Deaton further reproached Warren for targeting cryptocurrencies while ignoring critical issues like inflation and border security.
In response, Warren asserted that if Deaton wins a Senate seat, he would prioritize the interests of the crypto sector, suggesting that digital asset advocates fund his campaign.
As of now, XRP is trading at $0.5455, having remained stable over the past two weeks, with slight increases of 0.5% and 1.3% over the last seven and fourteen days, respectively.
Image sourced from DALL-E, with the chart provided by TradingView.com