Ripple has financed one of the PACs backing John Deaton, while Brad Garlinghouse and other crypto executives have directly contributed to his Senate campaign.
The CEO of the payments company Ripple, Brad Garlinghouse, has openly supported Republican John Deaton in his bid to represent Massachusetts in the US Senate.
Garlinghouse stated that he “enthusiastically and wholeheartedly” backed Deaton’s bid for the Senate against incumbent Elizabeth Warren in an X post on October 22. The lawyer’s efforts to defend XRP holders and “the entire crypto industry” in court were referenced by the Ripple CEO.
Given that Garlinghouse, Chris Larsen, and Stuart Aldertoy, the chief legal officer of Ripple, all contributed to Deaton’s campaign, many people on social media felt unsurprised by the endorsement. Additionally, Ripple is one of the biggest donors to the Commonwealth Unity Fund PAC, which uses advertising buys to oppose Senator Warren and back Deaton.
Is the Senate contesting a vote on crypto policy?
Digital asset policies were a topic of dispute in two discussions that Deaton and Sen. Warren took part in on October 15 and 17. The senator from Massachusetts asserted that “100% of his loyalty in Washington will be to crypto,” accusing the attorney of caving into the business with his campaign funds.
Deaton stated, however, that Senator Warren’s congressional objectives were unduly centered on cryptocurrency regulation in contrast to matters such as immigration and the economy. According to numerous lawmakers and business leaders, the two most vocal opponents of cryptocurrency in government are Securities and Exchange Commission Chair Gary Gensler and Massachusetts Senator Gary Gensler.
Brad Garlinghouse stated that Gensler “will be on the wrong side of the law and history”. As Ripple prepares to introduce its stablecoin, RLUSD, the CEO worries about the US government “going after” Tether.
The US election is less than 13 days away, and many Massachusetts citizens have already started to cast their ballots. According to numerous surveys, Senator Warren was at least 20 points ahead of Deaton in October. Since 2013, she has served in the Senate.
The Ripple co-founder also declared he would donate $11 million in XRP to a political action committee that supports Democratic presidential candidate Kamala Harris, even though Larsen and Garlinghouse had already made contributions to Deaton’s campaign. The US Vice President and Republican contender Donald Trump were tied in most surveys at the time of publication.
