Good Morning Crypto (@AbsGMCrypto), a prominent crypto pundit on X, posted a clip from the recent debate between John Deaton and Elizabeth Warren. Deaton, a pro-crypto candidate running against Senator Elizabeth Warren, delivered an impassioned defense of cryptocurrencies, particularly focusing on his work with XRP holders.
During the debate, Deaton stated, “This token XRP was called legal because of my work,” a comment reflecting his involvement in the U.S. Securities and Exchange Commission (SEC) case against Ripple.
Deaton filed suit against the SEC on behalf of over 75,000 XRP holders, doing so pro bono, and showing his commitment to protecting individuals impacted by regulatory overreach. Deaton used this moment to highlight the significance of his legal victory for XRP holders, noting that the token’s legitimacy was affirmed through his advocacy efforts.
He further pointed out that because of this work, Ripple executive Chris Larsen could donate $1 million in XRP to Vice President Kamala Harris’s campaign, showing how cryptocurrencies benefit the Democrats who seem to want it gone.
Deaton’s message was clear: without his legal intervention, the crypto donations benefiting Harris’s political endeavors wouldn’t have happened. As he expressed directly to Harris, “Madam Vice President, if you’re watching, you’re welcome.”
Overview of the Debate
Throughout the debate, Deaton framed himself as a defender of small investors and a proponent of financial innovation. He critiqued Warren’s anti-crypto stance, exposing her as out of touch with modern financial technologies and more aligned with traditional banking interests.
On the other hand, Warren stood firm in her opposition to cryptocurrencies, emphasizing the risks they pose to the financial system. She reiterated her concerns about the use of crypto in money laundering and financial instability, frequently pointing to the Digital Asset Anti-Money Laundering Act as a necessary safeguard.
Warren has long argued for more stringent regulatory controls to protect consumers from the volatility and potential criminal use of digital assets. She even asked for the crypto market to be shut down, siding with prominent traditional financial figures and attempting to vilify crypto use.
Her comments have not gone down well with the crypto market. Many believe it’s time for a change. They see Deaton as the one who can bring that change, and Warren’s time in the U.S. Senate could be coming to an end as more people stand behind the candidate who fights for the people instead of the banks and traditional financial institutions.
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