- John Deaton holds the largest Bitcoin assets among politicians, with 80% of his net worth in Bitcoin or related investments.
- Deaton’s Senate campaign has raised $2 million, backed by major crypto figures including Tyler Winklevoss and Ripple.
- Senator Elizabeth Warren’s campaign funds exceed $18 million, significantly outpacing Deaton’s financial support.
John Deaton is gaining momentum in the Massachusetts Senate race. Deaton is reportedly to be the politician who owns the most Bitcoin and other crypto assets. According to his most recent financial declarations, over 80% of his net worth is associated with Bitcoin or assets related to Bitcoin.
— Eleanor Terrett (@EleanorTerrett) July 24, 2024
SCOOP: Is Massachusetts Senate candidate @JohnEDeaton1 the biggest holder of #Bitcoin of any elected official/candidate? His recent financial disclosures show that around 80% of his net worth is in $BTC or $BTC related investments. He also owns $ETH, $SOL and $XRP.
SCOOP: Is Massachusetts Senate candidate The cryptocurrency community is firmly backing Deaton’s campaign against Senator Elizabeth Warren. Gemini and Winklevoss Capital co-founder Tyler Winklevoss donated $500,000 to support Deaton’s campaign. Winklevoss critiqued Warren’s tough regulatory stance on cryptocurrencies, accusing her of leading a campaign against innovation.
Ripple also contributed $1 million to Deaton’s campaign. Charles Hoskinson of Cardano, Anthony Scaramucci of SkyBridge Capital, Jesse Powell of Kraken, and Coinbase are some of the other key players in the industry who have backed him. These contributions indicate the crypto community’s confidence in Deaton’s ability to push for positive regulatory changes.
Despite generating approximately $2 million, Deaton’s finances are still exceeded by Warren’s campaign fund of more than $18 million. However, endorsements from prominent figures such as Mark Cuban and Perianne Boring are expected to strengthen his campaign.
Deaton’s candidacy emphasizes the importance of legislation that legitimizes digital assets and promotes a favorable regulatory framework. This is in contrast to Warren’s campaign which focuses on more tight anti-money laundering regulations and a crackdown on the cryptocurrency businesses.
The Senate campaign in Massachusetts is developing as a key stage for the fate of cryptocurrency legislation in America. Given Deaton’s large cryptocurrency holdings and backing from the sector, the winning stakes are quite high.
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