Republican

Gemini

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A political action committee (PAC) that accepted donations from crypto industry players, including Ripple, has spent $850,000 to support Republican John Deaton in a Massachusetts primary.&nbsp;
According to records from the Federal Election Commission (FEC), the Commonwealth Unity Fund Super PAC <a href="https://docquery.fec.gov/cgi-bin/forms/C00875856/1808744/se" target="_blank" rel="noopener nofollow">reported</a> disseminating roughly $450,000 in a direct mail buy to support Deaton on Aug. 7 and more than $500,000 in a media buy on Aug. 6. The purchases followed the Super PAC spending more than $300,000 on a media placement in July.
Deaton, one of three Republicans running to represent Massachusetts in the United States Senate starting in 2025, has the support of many in the crypto industry. In July, Ripple <a href="https://cointelegraph.com/news/ripple-donates-1-million-john-deaton-massachusetts-senate-primary">announced it would be donating</a> $1 million to the Commonwealth Unity Fund to support Deaton in his battle to replace Democratic Senator Elizabeth Warren, who has served in the role since 2013.
In April, Gemini co-founders Cameron and Tyler Winklevoss <a href="https://cointelegraph.com/news/john-deaton-senate-bid-q1-donors-outraise-elizabeth-warren">donated $6,600 directly</a> to Deaton’s campaign — the maximum amount allowed by an individual for both primary and election bids. The Winklevoss twins announced in July that they would be <a href="https://cointelegraph.com/news/tyler-winklevoss-donates-john-deaton-campaign">contributing $1 million combined</a> to Deaton, but at the time of publication, it was unclear whether the funds would go directly to the Republican’s campaign or supportive PACs.
<h2 id="flush-with-cash">Flush with cash</h2>
According to FEC records, as of July 31, Deaton had raised roughly $1.7 million in his bid for the US Senate in 2024, with roughly $1 million in cash on hand. Senator Warren had raised roughly $6.4 million since January 2023 and had roughly $4.9 million in cash on hand as of July. 
The Massachusetts primary, scheduled for Sept. 3, will likely be one of the next proving grounds for money from crypto interest groups in US elections. On Aug. 6, candidates for the US House of Representatives for four districts across three states <a href="https://cointelegraph.com/news/crypto-super-pacs-back-candidates-state-primaries">backed by the Fairshake Super PAC</a> and its affiliates won their respective primaries after more than $4 million in media buys.
Related: <a href="https://cointelegraph.com/news/massachusetts-lawyer-elizabeth-warren-net-worth-bitcoin">Lawyer trying to unseat Senator Warren says 82% net worth is in Bitcoin</a>
Deaton is a lawyer who has filed amicus briefs supporting legal actions by some crypto firms against the US Securities and Exchange Commission. He <a href="https://cointelegraph.com/news/lawyer-unseat-elizabeth-warren-crypto-campaign">launched his Senate campaign</a> in February.
Support for Deaton is not universal across the crypto industry. Wyoming Senator Cynthia Lummis, a Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) holder and digital asset proponent in Congress, <a href="https://cointelegraph.com/news/cynthia-lummis-senate-endorsement-ian-cain">endorsed Republican Ian Cain</a> over Deaton in July. The Republican senator cited Cain’s understanding of the “digital economy” and his embrace of innovation.
As of June, many polls <a href="https://www.270towin.com/2024-senate-polls/massachusetts" target="_blank" rel="noopener nofollow">had</a> Senator Warren leading by at least 20 points against Cain and Deaton. She is running unopposed in the Democratic primary.
Magazine: <a href="https://cointelegraph.com/magazine/pro-xrp-lawyer-john-deaton-10x-more-into-btc-4x-more-into-eth-hall-of-flame/">Pro-XRP lawyer John Deaton ‘10x more into BTC, 4x more into ETH’: Hall of Flame</a>

Super PAC focuses on unseating Sen. Warren, spends $850K on John Deaton

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Cointelegraph

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