Ripple makes a significant donation towards dethroning Senator Elizabeth Warren from her position as Senator from Massachusetts.
FOX Business journalist Eleanor Terrett called the public’s attention to the development today. According to the pro-crypto journalist, Ripple donated $1 million to the Commonwealth Unity Fund, a newly created political action committee (PAC) established by pro-XRP lawyer James Murphy.
Notably, Ripple’s donation to the super PAC will support efforts to remove Senator Elizabeth Warren and promote Attorney John Deaton’s candidacy as the next Massachusetts Senator.
In addition to Ripple’s commitment, Attorney Murphy supported this initiative with a $50,000 donation.
🚨SCOOP: @Ripple has donated $1M to the Commonwealth Unity Fund, a new super PAC set up by attorney James Murphy aka @MetaLawMan, to unseat @SenWarren and elect @JohnEDeaton1 as Massachusetts’ next Senator. Murphy donated $50K.
More details and story to come. pic.twitter.com/32kadpAkE1
— Eleanor Terrett (@EleanorTerrett) July 15, 2024
Prior Support to Deaton’s Campaign
It is noteworthy that Ripple had previously supported Deaton’s bid to dethrone Senator Warren from the United States Senate earlier this year.
In April, Ripple executives Brad Garlinghouse and Chris Larsen donated the maximum individual campaign contribution of $6,600 to Deaton’s campaign. According to Politico, the company’s executives divided their donations into two categories—half for the primary election and the other half for the general elections.
Besides Ripple executives, other crypto proponents like Cardano founder Charles Hoskinson also supported Deaton’s bid to unseat Senator Warren. As of April, Politico reported that Attorney Deaton had raised $1.26 million, with most of the funds provided by crypto enthusiasts.
Significance of Massachusetts Senatorial Election
The Massachusetts senatorial election is characterized as a significant political showdown between the Anti-Crypto and Pro-Crypto armies.
Deaton heads the Pro-Crypto wing. He is a former U.S. Marine and lawyer focused on the growth of the U.S. crypto industry. His major contribution to the industry was seen in the legal tussle between the U.S. SEC and Ripple.
As reported earlier, Attorney Deaton played a major role in the lawsuit that saw Judge Torres declare that Ripple’s programmatic sales and other distributions of XRP do not constitute investment contracts.
Conversely, the Anti-Crypto team is led by Senator Warren, a veteran politician with over a decade of experience. She is known for her anti-crypto stance and push towards banning the emerging asset class.
Given her commitment to stifle the growth of the U.S. crypto industry, it is unsurprising that industry executives are donating heavily to Attorney Deaton’s campaign to unseat the Massachusetts Senator.