Lummis Endorses Cain Over Crypto Lawyer Deaton for Senate

In his bid to unseat Democrat Elizabeth Warren, pro-crypto Senator Cynthia Lummis highlighted Republican Ian Cain’s blockchain and digital economy expertise.

One of the more vocal supporters of cryptocurrencies in the US Congress, Senator Cynthia Lummis of Wyoming, has backed Republican Ian Cain in his bid to become the senator from Massachusetts.

Sen. Lummis supports Cain, according to a July 8 announcement from Cain’s campaign, which cited Lummis’ grasp of the “digital economy” and his appreciation of innovation. The endorsement might give Cain an advantage over his primary rivals, including lawyer John Deaton and engineer Robert Antonellis.

Senator Lummis stated, “Ian Cain knows the issues facing his community, from the border to blockchain, and he will fight hard every day for the Commonwealth.”

The endorsement from the Wyoming senator was made 120 days before the US general election and 57 days before the Republican primary in Massachusetts. Elizabeth Warren, the Democratic senator representing the state since 2013, is the target of Republicans seeking to oust her. One of Congress’s most outspoken opponents of cryptocurrencies is Senator Warren, who links them to money laundering.

Deaton is an attorney who has intervened as an amicus in numerous well-known cryptocurrency court cases, supporting the technology against the Securities and Exchange Commission of the United States and condemning Senator Warren for her anti-crypto stances. In the first quarter of 2024, he raised more money for his campaign than Senator Warren did, thanks to support from cryptocurrency enthusiasts such as C-level executives at Gemini, Ripple, and Kraken.

In April, Cain—a co-founder of QUBIC Labs—started his campaign. Since the Republican candidate’s campaign was started after first-quarter 2024 reporting, information regarding his financing was not available at publication, according to data from the Federal Election Commission. The Republican contender appears to favor cryptocurrency and blockchain technology based on several remarks he has made on his personal X account. He has also supported the Financial Innovation and Technology for the 21st Century (FIT21) Act.

According to YouGov polls, as of May 30, Senator Warren led Deaton and Cain by more than twenty points.

Blockchain technology and cryptocurrency have already entered the campaign trail for some 2024 hopefuls, including former US President Donald Trump. The Republican contender, with a criminal record, has stated that he will take cryptocurrency payments for his campaign and has supported Bitcoin mining in the US. President Joe Biden is reportedly considering making digital assets a more extensive campaign issue now that the election is almost here due to the shift.