YEREVAN (CoinChapter.com) – Ripple CEO Brad Garlinghouse has shown support for John Deaton, a pro-XRP attorney, to run for a political office, specifically against Senator Elizabeth Warren. This development has garnered significant attention within the XRP community and the wider crypto sphere.
Deaton (And Garlinghouse) vs Warren 1.0
The community’s push for Deaton’s candidacy is primarily due to Senator Warren‘s known anti-crypto stance, which some perceive as a threat to the industry. Warren has been particularly active in sponsoring legislation such as the ‘Digital Asset Anti-Money Laundering Act.’
Garlinghouse’s support for Deaton is also reflective of Ripple’s ongoing struggles with regulatory clarity, particularly in its legal battles with the Securities and Exchange Commission (SEC).
John Deaton himself has been a vocal critic of Senator Warren, labeling her as a significant threat to the crypto industry. Despite the strong encouragement from the XRP community and notable figures like Garlinghouse, Deaton has not yet officially announced any decision to run for office.
He has indicated that if he were to run, it wouldn’t be solely because of Warren’s stance on cryptocurrencies but would also involve other considerations. Meanwhile, it is not the first instance of crypto companies dabbing into political lobbying.
Cryptocurrency Companies Influence Politics
As CoinChapter previously reported, there has been a significant movement within the cryptocurrency industry to influence the 2024 US elections. A group of super PACs, backed by cryptocurrency executives and investors, has raised around $78 million to support pro-crypto political candidates.
Did You know? A PAC, or Political Action Committee, is a type of organization in the United States that collects and spends money to elect or defeat political candidates. PACs are used to raise funds from individuals, organizations, or corporations and then use those funds to support or oppose political candidates, legislation, or ballot initiatives.
Garlinghouse supporting Deaton fades into the background, assuming Deaton would run at all. However, the crypto community does not rest! Key players in the 2024 election effort include Not only Ripple and Coinbase but also venture capital giant Andreessen Horowitz (a16z). These entities have pledged significant financial support to the Fairshake PAC, which is leading this campaign.
Garlinghouse has been vocal about the company’s intent to support pro-crypto candidates, emphasizing the need for the US to take a more proactive stance in the global cryptocurrency landscape.
Fairshake doesn’t simply support the presidential race but also aims to back candidates for other political offices who favor a more open and innovative approach to cryptocurrency and blockchain regulation.
Andreessen Horowitz (a16z) founder and managing director Chris Dixon also joined the cause.
There is a battle in Washington about the future of blockchain technologies: Certain policymakers believe it should be banned, while other people think it should have no guardrails. Neither of those options will allow the technology to reach its full potential and realign the future of the Internet away from Big Tech to the people who use it.
Commented Dixon
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