Deaton Takes On Warrens Anti-Crypto Policies in Senate Campaign

John Deaton, a trial attorney and U.S. Marine veteran, has launched his campaign for Senator Elizabeth Warrens seat in Massachusetts, citing her anti-crypto stance as a major factor. As tensions rise between the traditional finance sector, regulators, and the crypto industry ahead of the 2024 elections, Deaton is positioning himself as the pro-crypto alternative.

In a Fox News interview, he criticized Warren for prioritizing banking interests over crypto investors, accusing her of stifling innovation in the digital assets space.

In his campaign, Deaton argues that Warren‘s policies allow traditional banking institutions to maintain control and discourage crypto adoption. Deaton, who won the Massachusetts Republican primary by a significant margin, is set to face Warren in the November election. He has garnered support from crypto enthusiasts, positioning himself as a defender of the industry’s future in the U.S.

Read also: Silvergate Collapse: Did Warren and Biden Push the Bank to Fail？

In a roundtable conversation with Rob Nelson as the anchor and Wendy O, host of The O Show, Deaton discussed how Sen. Warren is disregarding crypto investors and serving her own interests, particularly those of the banking sector. The group claimed that Warrens policies help banks maintain control, keeping investors away from crypto.

Warren has consistently condemned digital assets, alleging their use by terrorist organizations and money launderers. Deaton countered, stating that such illicit activities account for less than 1% of cryptocurrency usage and noted that groups like Hamas avoid using digital assets due to their high traceability.

The Republican candidate for Warrens seat further said:

“That‘s why I’ve called Elizabeth Warren the number one banking lobbyist in America. She couldnt beat them; she joined them.”

Concerns About Private Blockchains

Wendy O raised concerns about private blockchains being developed by major banking institutions, accusing Senator Warren of acting in her self-interest. Wendy O argued that Bitcoin was created for transparency, and private blockchains represent the opposite.

She also shared a personal story about raising $100,000 for a local non-profit gym supporting inner-city kids, emphasizing how the crypto community made substantial donations to help.

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