Bitrabo Editorial
John E. Deaton, a pro-XRP lawyer and Senate candidate in Massachusetts, has become prominent as one of the major cryptocurrency holders in politics, with substantial investments in top digital assets.
Advocate for XRP, John E. Deaton’s Crypto Portfolio Revealed
John Deaton is renowned for his legal prowess and military service as a Marine veteran. He is known for staunchly defending cryptocurrencies, especially Ripple, amidst the company’s legal battles with US regulators over recent years.
Ripple has been entangled in a lawsuit with the SEC since 2020 for alleged securities violations, and Deaton has played a pivotal role in supporting Ripple’s defense, with the company backing his campaign with generous donations.
A recent disclosure by Fox Journalist Eleanor Terret unveiled that a substantial 80% of Deaton’s net worth is invested in Bitcoin (BTC) or BTC-related assets, along with holdings in Ethereum (ETH), Solana (SOL), and XRP.
Ripple’s Influence in Politics
Ripple’s active participation in the Commonwealth Unity Fund, a PAC founded by legal expert and crypto advocate James Murphy, underscores the increasing impact of the crypto industry in the US political landscape.
Ripple’s substantial contributions, which include donations from key figures like CEO Brad Garlinghouse and founder Chris Larsen, demonstrate a concerted effort to support Deaton and promote a more crypto-friendly political environment.
James Murphy, a well-known figure for insights on crypto enforcement as “MetaLawMan,” envisions unity and collaboration in Congress, endorsing Deaton as a candidate capable of bridging gaps in crypto regulation discussions in the Senate.
Despite the challenges posed by Elizabeth Warren’s firm grip on her seat in Massachusetts since 2013 and her critical stance on digital assets, Deaton’s campaign faces financial and ideological hurdles.
Warren’s fundraising advantages forecast her surpassing the Pro-XRP lawyer in contributions, highlighting the tough road ahead for the crypto-friendly candidate. Murphy emphasized in a recent interview with Fox the necessity for unification in the Senate to overcome divisive policies.
“Now, more than ever, we need unifiers in the Senate. I believe the people are ready to reject the divisive policies and actions of Elizabeth Warren.”
As of the latest update, XRP, the sixth largest cryptocurrency, is trading at $0.615, experiencing a 1.5% decline in the last 24 hours along with a slight market correction led by Bitcoin on Thursday.
Image credits: DALL-E (Featured image), TradingView.com (Chart)