John Deaton Outraises Elizabeth Warren With Support from Crypto Titans Ripple, Cardano, and Gemini in Senate Seat Showdown

BySteven Walgenbach

Updated: 15 April 2024

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Pro-crypto lawyer John Deaton has raised more funds than Senator Elizabeth Warren in the first quarter of this year in his bid to take her Senate seat as crypto industry titans back the lawyer’s campaign.

Big names in the crypto space including Ripple executives Chris Larsen and Brad Garlinghouse, Gemini founders Cameron and Tyler Winklevoss, and SkyBridge Capital founder Anthony Scaramucci are among the lawyer’s biggest donors.

Cardano and Ethereum co-founder Charles Hoskinson and Kraken co-founder Jesse Powell have also stepped in to support Deaton in his quest.

Overall, Deaton has raised around $1.36 million in the first quarter, which trumps the $1.09 million Warren managed to raise during the same period.

Crypto Giants Back John Deaton By Making Some Of The Biggest Contributions

Still, Warren received more funding from donors than Deaton. Donors gave her just under $1.09 million, while Deaton received $360,700 from his backers.

The rest of Deaton’s funds came from $1 million he loaned to his campaign, according to preliminary filings to the United States Federal Election Commission (FEC).

First, it was schoolyard bullies, then it was greedy corporations and the SEC, and now I am taking on the Washington elites. https://t.co/XxW0M7kkw9 pic.twitter.com/adJVbz4tyn

— John E Deaton (@JohnEDeaton1) February 20, 2024

Ripple’s Larsen and Garlinghouse, the Winklevoss twins and Scaramucci were Deaton’s largest individual contributors. Each made the maximum donation of $6,600, which is split into half between the primary and general election bids.

Meanwhile, Hoskinson, Powell, Ripple’s chief legal officer Stuart Alderoty and Casa wallet founder Jameson Lopp each contributed $3,300 towards Deaton’s primary campaign challenge.

Deaton’s Rise To Prominence

Ripple executives’ support for Deaton follows the lawyer’s rise to prominence when he defended XRP holders’ interests in Ripple’s legal battle with the Securities and Exchange Commission. In February, he announced that he will be running against Warren, who has held office for 11 years.

While Deaton has supported the crypto market, Warren has long campaigned against crypto. She also introduced bills that supposedly “level the playing field” between the crypto and traditional financial markets.