John Deaton wins Republican primary to face Warren in November

Pro-cryptocurrency lawyer John Deaton has secured the Republican nomination for the US Senate in Massachusetts after a decisive primary victory. Deaton, a vocal proponent of Ripple (XRP), received significant backing from some well-known people in the crypto industry. Meanwhile, the X accounts of Trump family members were hacked to promote a fraudulent token linked to World Liberty Financial. Also, a new survey shows very strong support for Donald Trump among cryptocurrency owners.

John Deaton triumphs in Massachusetts

Pro-cryptocurrency lawyer John Deaton insured the Republican nomination for the U.S. Senate in Massachusetts after a decisive victory in the primary election. Deaton is a former Marine and a very outspoken proponent of Ripple (XRP). He defeated two other Republican candidates, including industrial engineer Bob Antonellis and Quincy City Council President Ian Cain. 64% of the votes counted so far, Deaton will now face Democratic Senator Elizabeth Warren in the November elections.

Live voting results in Massachusetts (Source: Political)

Warren is seeking a third term and is known for her critical stance on the cryptocurrency industry. She has proposed Several invoices that aim to restrict the growth of digital assets in the United States due to concerns from terrorism to Drug abuseAs an influential member of the Senate Banking, Housing and Urban Affairs Committee, Warren has been a vocal advocate for pushing for stricter regulations for the cryptocurrency industry.

Deaton’s campaign received significant backing from key people in the cryptocurrency sector, including the Winklevoss twins and executives from VibeThe Commonwealth Unity Fund, a crypto political action committee, contributed over $1 million to support Deaton’s Senate bid.

Some of Deaton’s other major donors include Ripple executives Chris Larsen and Brad Garlinghouse, Gemini founders Cameron and Tyler Winklevoss, SkyBridge Capital founder Anthony Scaramucci, Cardano co-founder Charles Hoskinsonand Kraken co-founder Jesse Powell. By July 31, Deaton increase nearly $1.7 million for his Senate campaign.

Despite his strong ties to the cryptocurrency industry, Deaton made no specific mention of cryptocurrencies in his victory speech, which was posted on social media. Earlier this year, Deaton also filed an amicus brief on behalf of thousands of Coinbase customers in support of the firm in its legal battle against the U.S. Securities and Exchange Commission (SEC).

Trump X family accounts hacked

In other crypto news, the X accounts of Lara Trump, wife of Eric Trump, and Tiffany Trump, daughter of Donald Trump, were hacked On Tuesday evening, Lara Trump announced that she would be launching a campaign to promote a token that is allegedly tied to World Liberty Financial, an upcoming cryptocurrency project recently promoted by the Trump family. The hacked accounts posted what they claimed were the “only official” blockchain addresses for World Liberty Financial, with Lara Trump stating that the goal of the project is to use the governance token, $WL, in Solarium to support DeFi Loan protocol.

Shortly after these publications were made, Eric Trump announced on X that Lara and Tiffany’s profiles were compromised. He also warned his followers that the addresses were a scamWorld Liberty Financial also issued an alert confirming the attacks and urged people to avoid any links or tokens shared from the compromised accounts.

This incident was at least the third time that a token allegedly linked to Donald Trump appeared. Previously, a token DJT Sheet It was promoted by convicted fraudster Martin Shkreli, who claimed it was launched with Barron Trump and other developers, although no members of the Trump family confirmed they were actually involved. Another project, Restore the Republic (RTR), briefly reached a valuation of $155 million before collapsing.

The attacks occurred just hours later details Information was shared about World Liberty Financial describing it as a lending and borrowing company. DeFi Platform The project is planning to issue a token called WLFI. While the project does not yet have an official launch date, the white paper stated that Donald Trump will be the “chief advocate for cryptocurrencies.” It also includes roles for Eric, Donald Jr., and Barron Trump.

Cryptocurrency owners favor Trump

Former US President Donald Trump’s outreach to the crypto community appears to be working, according to a new report. survey by Fairleigh Dickinson University. The survey was released on August 30 and found that a large number of cryptocurrency holders are inclined to vote for Trump instead of Vice President Kamala Harris in the upcoming US election. presidential election.

Among cryptocurrency holders, 50% expressed support for Triumphwhile only 38% preferred Harris. For non-crypto owners, the numbers are reversed, with Harris leading by 12 points. Among this group, 53% said they would vote for Harris and 41% favored Trump more.

Survey results (Source: Fairleigh Dickinson University)

The poll results reflect Trump’s attempts to woo the cryptocurrency industry, which appear to be paying off. Dan Cassino, a professor of government and politics at Fairleigh Dickinson, shared that while cryptocurrency owners may seem like a small demographic, their influence could be much larger than many realize due to the growing prevalence of cryptocurrency ownership.

The survey polled over 800 registered voters across the country and found that 15% of respondents currently own or have previously owned cryptocurrencies or non-fungible tokens (NFT). This percentage is in line with other recent surveys.

According to the survey, cryptocurrency owners tend to be young men and members of racial minority groups: 13% of white voters report owning cryptocurrency, compared to 17% of black voters and 22% of Hispanic voters.

Survey results (Source) Fairleigh Dickinson University)

Historically, Republicans have had a hard time appealing to young people and voters of color, but support for cryptocurrencies could serve as a divisive issue that helps Republicans win over these groups. Additionally, the cryptocurrency industry has contributed heavily to political action committees (PACs) during this election cycle. Companies like Coinbase and Ripple have been major contributors. In fact, nearly half of all PACs are now funded by cryptocurrencies. corporate contributions PACs come from cryptocurrency companies.

Paul Grewal foresees the emergence of a pro-cryptocurrency congress

Paul Grewal, legal director of Coinbaseis optimistic about the commitment of the two major US presidential candidates to the cryptocurrency industry in the 2024 election. In an article on September 3, Interview with BloombergGrewal said Coinbase has been in contact with representatives from both the Harris and Trump campaigns. While the Trump campaign was clear in its support for pro-cryptocurrency policiesHarris’ team also showed an open approach toward digital assets.

Despite regulatory actions by the current administration, particularly through the SEC Chairman Gary GenslerGrewal was encouraged by discussions with the Harris campaign about a possible new approach to cryptocurrency regulation.

Grewal’s interview with Bloomberg (Source: Bloomberg)

Grewal also noted that leadership changes at the SEC and cryptocurrency legislation, such as the Financial Technology and Innovation for the 21st Century Act (FIT21), were key concerns for the industry. The FIT21 Act, passed by the House in May, is awaiting Senate approval and could bring some long-awaited changes. regulatory clarity to the sector.

Grewal predicted that a pro-cryptocurrency Congress will most likely emerge, regardless of the outcome of individual races or the presidential election. He is hopeful that progress on legislation will continue through the fall, with bipartisan support for policies that offer structure and certainty to the industry.