John Deaton, a prominent advocate for cryptocurrency, has clinched the Republican nomination for the U.S. Senate seat from Massachusetts and is set to compete against incumbent Democratic Senator Elizabeth Warren in the general election this November.
Deaton, known for his support of Ripple and a former Marine, emerged victorious in the Republican primary, outpacing Bob Antonellis and Ian Cain. With 64% of the vote counted, Deaton secured a commanding lead, as reported by the Associated Press on September 4.
Warren, who has been a vocal critic of the cryptocurrency sector and has proposed stringent regulations on the industry, is seeking her third term. She has a history of significant victories, including a notable defeat of Scott Brown in 2012 and a strong showing in 2018.
The cryptocurrency industry has rallied behind Deaton, with substantial financial backing from figures such as Ripple executives and the Winklevoss twins. His campaign received over $1 million in support from the Commonwealth Unity Fund, a political action committee focused on crypto interests.
Deaton’s campaign finances show he raised about $1.7 million by late July. Despite his recent primary win, his campaign has not heavily focused on cryptocurrency in his public statements. Earlier this year, he also filed a brief supporting Coinbase in its legal dispute with the SEC.
The SEC has sought a four-month extension in its investigation related to Coinbase, pushing the deadline to February 2024, just after the US presidential election.
DZ Bank, Germany’s second-largest financial institution, has teamed up with Boerse Stuttgart Digital to offer cryptocurrency trading and custody services across its network of cooperative banks.
Charles Hoskinson, founder of Cardano, will meet with Argentina’s President Javier Milei in October to discuss blockchain’s role in shaping future economies.
Binance has seen a sharp rise in interest from institutional and corporate investors, with a 40% increase in participation this year, according to CEO Richard Teng.