Last updated on November 11th, 2024 at 10:54 am
Brian Armstrong, CEO of Coinbase, has called on cryptocurrency investors in Massachusetts to rally behind John Deaton in his bid for the U.S. Senate. Deaton, a trial attorney and U.S. Marine veteran has garnered significant support from the crypto community, with Armstrong criticizing the current representative, Senator Elizabeth Warren, for her opposition to the industry.
In a post on X (formerly Twitter), Armstrong expressed frustration with Warren’s long-standing anti-crypto stance. He argued that under Warren’s leadership, the United States Securities and Exchange Commission (SEC) was handed to Gary Gensler, who he claims has unlawfully attempted to stifle the digital asset sector. Armstrong accused Warren of harming the industry by pushing excessive regulations but noted that the crypto sector fought back, preventing the damage she intended.
Armstrong called Warren ‘anti-freedom,’ saying she wants the government in charge of all financial activities like China does. He further accused her of policies that wreak havoc on the country.
Also Read: Coinbase and Private Litigants Turn to Courts for Clarity on SEC Regulations
Advertisement
Crypto Community Rallies Behind Deaton
Deaton’s candidacy has united many in the crypto industry, with James Murphy, a prominent crypto lawyer known as MetaLawMan, also voicing his support for Deaton. Everyone knows that Murphy accused Warren of trying to “debank” investors and called on the crypto community to support Deaton. Deaton pointed out that he has made great strides towards the maturation of the crypto economy market, making him a worthy candidate for the position compared to others.
Notably, crypto-centered figures have made massive contributions towards Deaton’s campaign. After easily triumphing in the Massachusetts Republican primary in September, Deaton accepted $500,000 contributions from Gemini co-founders Cameron and Tyler Winklevoss. Ripple also provided one million U.S. dollars to the Commonwealth Unity Fund – a Political Action Committee that sought to fund Deaton’s battle against Warren.
With the backing of significant crypto leaders, Deaton’s Senate campaign has gained momentum, positioning him as a critical figure in the political battle over cryptocurrency regulation in the U.S.
Also Read: Coinbase Pushes for Appeal, Backed by Ripple Case Developments
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.