Charles Hoskinson, the creator of Cardano, has declared his support for John Deaton, a lawyer and advocate for cryptocurrencies, by making a maximum legal donation of $3,300 to Deaton’s campaign for the United States Senate. Deaton is contesting against incumbent Senator Elizabeth Warren in Massachusetts. Hoskinson’s support highlights the increasing involvement of the crypto sector in political issues.
In a statement shared on a platform called X, Hoskinson expressed his support for Deaton’s bid against Senator Warren, emphasising the need for individuals willing to confront the establishment, particularly in countering the influence of traditional banks on legislation impacting the crypto industry. This move signals a growing divide between the crypto community and figures like Senator Warren, who represent the Biden administration.
Deaton, in response to Hoskinson’s donation, conveyed his appreciation through an email, recognizing the significance of the support for his Senate campaign and emphasising the importance of assistance from allies like Hoskinson for achieving success in the November elections.
I just donated the maximum amount allowed for @DeatonforSenate in his fight against Elizabeth Warren for Senate. We need people willing to take on the establishment against banks writing our laws and destroying the Crypto industry. pic.twitter.com/tTxmghBhUH
— Charles Hoskinson (@IOHK_Charles) March 3, 2024
The political landscape for the crypto industry has been challenging due to increased regulatory scrutiny. Deaton, known for his advocacy for XRP and his expertise in crypto law, is positioning himself as a pro-crypto candidate, aiming to bring a fresh perspective to Senate deliberations on crypto-related matters.
Despite past disagreements, the collaboration between Hoskinson and Deaton against what they perceive as regulatory overreach indicates a broader coalition forming within the crypto space to address legislative challenges.
Deaton’s campaign has garnered support not only from Hoskinson but also from other influential figures in the crypto community, such as Caitlin Long, the founder of Custodia Bank. Long’s endorsement of Deaton’s candidacy was evident when she introduced him at the ETH Denver event, urging the crypto community to rally behind his campaign.
LOOK WHO I’LL BE INTRODUCING on the @EthereumDenver main stage at 4:15! He needs an “I’m running to vote @ewarren out of the Senate” sign at his booth.😜 Hey all shadowy supercoder peeps, pls stop by his booth & if you’re a Massachusetts voter pls go to https://t.co/b0IvmUHNAV 💪 pic.twitter.com/pFZIMgNTdq
— Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) March 2, 2024
This development underscores the growing realisation within the cryptocurrency industry of the necessity for direct engagement in politics to safeguard its interests and advocate for a more favourable regulatory environment. As the 2024 elections approach, the support from figures like Hoskinson for Deaton’s Senate bid highlights the increasing political influence of the crypto sector and its determination to challenge established norms