The Commonwealth Unity Fund is a political action committee (PAC) created by XRP-supporting lawyer James Murphy. Ripple’s donation to the PAC will help advance the candidacy of another lawyer, John Deaton, who is also an advocate for XRP holders and is running for Senator in Massachusetts. Along with Ripple, Murphy has supported Deaton’s cause by donating $50,000 to his political campaign.
Senator Elizabeth Warren is known for her anti-cryptocurrency stance and her desire to ban the asset class. As a result, major industry players are making significant donations to help her oust her. In April, Ripple executives Brad Garlinghouse and Chris Larsen also contributed $6,600 to Deaton’s campaign.
In addition to Ripple’s leadership, Deaton was supported by Cardano founder Charles Hoskinson, who sent him $3,300. As of April 2024, Deaton had raised $1.26 million, with most of the funds coming from crypto enthusiasts.
John Deaton is a former US Marine and cryptocurrency lawyer. Deaton’s main contribution to the crypto industry was the 2023 lawsuit between Ripple and the US Securities and Exchange Commission (SEC) that ruled that XRP is not an investment contract when sold on the secondary market. Last year, Deaton was awarded the Cryptocurrency Defense of the Year Award.
Source: Bits
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