John Deaton, known for his advocacy in the crypto community and his legal battles involving Ripple, is now backed by Ripple itself in his bid for the Massachusetts Republican senatorial primary.
Deaton, a prominent figure in mesothelioma law, has gained attention for his defense of Ripple and his establishment of CryptoLaw, a firm specializing in cryptocurrency legal issues.
Ripple contributed $1 million to the Commonwealth Unity Fund supporting Deaton’s campaign, with lawyer James Murphy also contributing $50,000.
This political action committee (PAC) has already directed $30,000 towards opposing Senator Elizabeth Warren, a noted critic of cryptocurrencies.
Deaton’s advocacy extends beyond his legal practice, as seen in his support for Coinbase against the SEC’s Howey test interpretation. He argues that the SEC’s blanket classification of digital tokens as securities undermines the nuanced nature of blockchain transactions.
In the primary race, Deaton faces competition from blockchain entrepreneur Ian Cain and engineer Robert Antonellis, among others, while Senator Cynthia Lummis supports Cain’s candidacy. Despite the contenders, Warren remains a formidable candidate based on current polling data.
The Bank of Canada has announced that it is winding down its efforts on retail central bank digital currency (CBDC), as per an update on its website.
Circle is preparing for its initial public offering (IPO) and is set to relocate its headquarters to Wall Street in 2025, according to CEO Jeremy Allaire.
Crypto trader Michaël van de Poppe suggested that the Federal Reserve’s recent decision to cut interest rates by 50 basis points could positively influence the crypto market.
Solana Mobile has officially introduced its new cryptocurrency smartphone, “Seeker,” previously known as “Chapter Two.”