Ripple has made a substantial political move by donating $1 million to the Commonwealth Unity Fund, a Super PAC established by prominent Web3 attorney James Murphy, also known as MetaLawMan. Murphy himself has contributed approximately $50,000 to the fund. This donation highlights Ripple’s strategic efforts to influence the political, particularly targeting lawmakers who have been critical of the cryptocurrency industry.
Targeting Senator Elizabeth Warren
The primary aim of the Commonwealth Unity Fund is to unseat long-time Massachusetts Senator Elizabeth Warren, who is well-known for her critical stance on digital assets. Warren has been a vocal skeptic of cryptocurrencies, often questioning their legitimacy and advocating for stricter regulations.
The Super PAC supports John Deaton, a former U.S. Marine and cryptocurrency attorney, in his run for the Senate. Deaton is seen as a pro-crypto candidate who can challenge Warren’s anti-crypto views and promote a more favorable regulatory environment for digital assets.
John Deaton: A Pro-Freedom Candidate
John Deaton has branded himself as a “pro-freedom candidate,” rather than just a pro-crypto advocate. He claims to fight against “government overreach” and has described Warren’s skeptical views on cryptocurrencies as “anti-American.” Deaton’s campaign is focused on promoting individual freedoms and reducing government intervention in the cryptocurrency market. His stance has resonated with many in the crypto community who view Warren’s policies as detrimental to innovation and growth in the sector.
Community Reactions
Legal expert Bill Morgan, in a post on X (formerly Twitter), labeled Warren as a “hater” and justified the donation by highlighting Deaton’s extensive work in the digital asset space. Warren played a significant role in Ripple’s ongoing battle against the U.S. SEC, which has been a point of contention for many in the crypto community.
Crypto Bulls Cheer as Bitcoin Hits $60.3K Post-Trump NewsXRP_Spartan, an XRP and Cardano (ADA) enthusiast, mentioned that those outside the crypto space might view Deaton as someone who helped a few billionaires from Ripple in their fight against the SEC. Morgan responded, emphasizing that only those ignorant of the case would think that way but acknowledged the perspective. This exchange highlights the polarized views within the crypto community regarding political involvement and regulatory battles.
Warren’s Criticism of Crypto
Earlier this year, Warren criticized the SEC for its approach to approving spot Bitcoin exchange-traded funds (ETFs) in the United States, arguing that the regulator misinterpreted the law. In February, Warren stated that the crypto industry needs to follow the same rules as traditional finance. She is often criticized by crypto enthusiasts for her anti-crypto stance, which they believe stifles innovation and hampers the growth of the digital asset industry.
