- Ripple donates $1 million to the PAC, supporting John Deaton’s Senate campaign.
- John Deaton targets Senator Warren in his pro-crypto Senate bid.
Eleanor Terrett, a Fox Business journalist, recently tweeted about a new Ripple development. Ripple made a $1 million donation to the Commonwealth Unity Fund, a new super PAC founded by attorney James Murphy. This political action committee intends to defeat Senator Warren and replace her with crypto supporter John Deaton as Massachusetts’ new Senator.
🚨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
John Deaton Launches Senate Campaign to Challenge Senator Warren’s Anti-Crypto Stance
John Deaton has begun his Senate campaign with the goal of challenging the present political order, notably Senator Warren, who is recognized for her criticism of crypto.
Deaton has personally contributed $500,000 to his campaign and is aggressively soliciting additional assistance from his fans, hoping to achieve $1 million by the end of the quarter.
This endeavor has sparked interest and support from prominent figures in the crypto community, including Charles Hoskinson, who has publicly announced his contribution to Deaton’s campaign. The primary election is planned for September 3.
Previously, CNF reported on speculations concerning a private meeting at the SEC headquarters regarding Ripple’s continuing legal battle.
On July 13, 2024, it was found that XRP is not a security when traded to the public, but is classified as one when sold to institutional investors. This legal distinction has important ramifications for Ripple’s business operations and market position.
Ripple’s attraction to central banks stems from its promise of speed, security, and digital innovation, which uses blockchain technology to challenge established banking procedures and facilitate rapid global payments. The anticipation of an XRP ETF is building, subject to the resolution of its legal hurdles and increased real-world acceptance.
Meanwhile, according to CoinMarketCap, the XRP price at the time of writing was about $0.5438, up 2.58% over the last 24 hours. It also reflects a bullish position of 25.36% during the last seven days.
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