With 15 days to go before the general election, Elon Musk, CEO of Tesla and prominent Dogecoin fan, is challenging the political fray with his latest endorsement of XRP advocate John Deaton, who is seeking a Senate seat. against Massachusetts Senator Elizabeth Warren, known for anti-crypto status.
Musk Aligns With Pro-Crypto Movements?
Musk’s support came in response to a posted by Coinbase CEO Brian Armstrong, who urged Massachusetts voters to support Deaton. Armstrong emphasized that Warren played a key role in appointing Gary Gensler as the chairman of the Securities and Exchange Commission (SEC), which he said was harmful to the cryptocurrency industry.
Musk echoed Armstrong’s comments, reinforcing his alignment with the growing pro-crypto Republican Party and its leader, Donald Trump. with a promising voice to support the industry when he returns to the Oval Office in January.
Armstrong called Warren “anti-libertarian,” saying he believed the government should regulate financial services, similar to China’s practices. Musk echoed this sentiment with a simple “Yes” in response to Armstrong’s assertion, indicating his strong opposition to Warren’s policies. Armstrong says:
Crypto owners in MA should note that @SenWarren is the one who got Gary Gensler his job and encouraged him to (illegally) try to kill the crypto industry in America. Fortunately, they did not succeed as we and others fought for it.
Warren’s State Of Crypto In Debate Against Pro-XRP Deaton
The political situation is tense following the debate between Warren and Deaton, where the senator surprised many by expressing the conditional opening of digital goods, depending on the industry that complies with the rules like traditional financial institutions.
As report by Bitcoinist, Senator, who was at the forefront of the anti-crypto conference in the Senate, said: “I’m all for having a crypto system if people want to buy and sell crypto. All I want is fair ground rules,” marking the departure from his scathing speech to the crypto industry.
Deaton, however, challenged Warren’s position, saying “the rules are already in place” and questioning his motives for going along with “anti-crypto sentiments.” He went on to say that it was Warren’s policies they had a negative impact on the workers, saying they were “hurting the poor people.”
During the debate, the pro-XRP advocate also criticized Warren for focusing on his attacks on crypto while neglecting pressing issues like inflation and border security.
Warren responded by suggesting that if Deaton were to win the Senate seat, he would put the interests of the Senate first. the crypto industrymeaning figures within the digital goods sector are backing his campaign.
At the time of writing, XRP is trading at $0.5455, having experienced a sideways movement over the past two weeks, with gains of 0.5% and 1.3% over the seven and fourteen day periods, respectively.
Featured image from DALL-E, chart from TradingView.com
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