Senator Warren fired back at crypto groups supporting her opponent. Crypto CEOs Send Cash to Republican John Deaton's Campaign Warren called on donors to support her third bid for the Senate seat.
Senator Elizabeth Warren has blamed crypto bigwigs backing Republican challenger John Deaton as her Massachusetts Senate race heats up.
Industry leaders, including the Winklevoss twins, accused incumbent US Senator Warren of sponsoring attack ads to spread misinformation about her candidacy.
Warren denounced their efforts and compared them to other special interest groups trying to influence the outcome of US elections.
“Some of the funders behind those ads are crypto investors like the Winklevoss brothers — yes those guys from The Social Network — because they're upset that I'm calling for fairer regulations that protect working people in the industry,” Warren's campaign wrote. A letter to donors.
Warren referred to “The Social Network,” a 2010 film depicting the early days of Facebook, now Meta, which revolves around the Winklevoss' lawsuit against Mark Zuckerberg for stealing the idea behind the website.
In July, Gemini Exchange founders Cameron and Tyler Winklevoss donated $1 million to a super PAC supporting Deaton in her bid to unseat Warren.
Several crypto luminaries, including Cardano founder Charles Hoskinson and Ripple CEO Brad Garlinghouse, have endorsed Deaton to stop Warren's anti-crypto crusade in the US Senate.
Latest estimates say that Deaton raised $1.8 million By September, it was much lower than Warren $7.2 million A war chest according to the US Federal Election Commission. Most of Deaton's donations are believed to be from crypto sources.
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Warren sponsored a bill earlier this year to crack down on crypto-based money laundering operations.
Crypto proponents in the US opposed They alleged the bill would drive “the majority of the digital assets industry overseas.”
The Democratic senator has countered those criticisms, saying she wants crypto to play more like traditional finance — a position also held by US Securities and Exchange Commission Chair Gary Gensler.
Meanwhile, Deaton has deep ties to the crypto industry. He defended Ripple in the crypto company's highly publicized court battle with the SEC.
The SEC charged Ripple in 2020 with securities violations, including the sale of the XRP cryptocurrency.
Ripple scored a partial victory last year when a court ruled that XRP sold to retail investors did not constitute an unregistered securities sale. However, other charges have been leveled against Ripple's executives related to the sale of XRP to institutional clients.
Despite being buoyed by an influx of donations from crypto bigwigs, Deaton still faces the tough task of unseating the two-term senator in the left-leaning state's local politics.
A. June Paul Warren 23 points lead Even before Deaton was confirmed as the Republican nominee.
Osato Awan-Nomayo Our Nigeria based DeFi representative. He covers DeFi and technology. To share tips or information about articles, please contact him here [email protected].
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