John Deaton is a Marine veteran, lawyer and political neophyte who has gained significant name recognition as a crypto advocate, particularly in spirited social media defenses of Ripple
John Deaton’s relentless support of Ripple’s battle with securities regulators is paying off. The crypto firm is betting big on the Republican lawyer to defeat Massachusetts Sen. Elizabeth Warren in the battle for her U.S. Senate seat, FOX Business has learned. According to public Federal Election Commission filings, Ripple has donated $1 million to the Commonwealth Unity Fund, a new super PAC created by lawyer and crypto enthusiast James Murphy to replace the crypto critic Warren with Deaton.
Deaton’s intervention in Ripple’s three-year legal battle with the SEC was considered consequential in a New York court’s decision last year that Ripple’s native digital coin, XRP, does not constitute a security when sold on public exchanges. The ruling is under appeal, but it has been regarded as a watershed moment for the $2 trillion digital asset industry in its quest to achieve legal clarity amid the SEC’s regulatory crackdown on crypto.
Murphy, who often provides commentary on crypto enforcement matters under the moniker "MetaLawMan" on X, said he’s been working on setting up the fund since April. He told FOX Business that he put $50,000 of his own money into the fund because he believes Deaton can help bring some unity to Congress’s highest chamber.
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