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.
Coinbase CEO Brian Armstrong is urging U.S. lawmakers to modernize stablecoin regulations, advocating for consumers’ right to earn interest on their stablecoin holdings.
Crypto exchange Bybit has announced that it will shut down its NFT marketplace on April 8, redirecting its focus to core trading services.
Circle, the company behind the USDC stablecoin, has officially taken a major step towards going public by filing for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).
OKX has taken a significant step in its global expansion strategy by appointing Linda Lacewell as its new Chief Legal Officer (CLO).