Charles Hoskinson, the founder of Cardano, has contributed a legal donation of $3,300 to John Deaton, a lawyer and cryptocurrency advocate, who is contesting for the United States Senate against incumbent Senator Elizabeth Warren in Massachusetts. Hoskinson announced his support for Deaton on X, emphasizing the need for candidates who challenge the current legislative approach toward the cryptocurrency industry.
Hoskinson’s statement highlighted his concern over the influence of banks in lawmaking and its negative impact on the cryptocurrency sector. Also, he expressed his belief in the necessity of having representatives in the Senate who are willing to oppose the establishment for the benefit of the crypto industry.
In response, Deaton expressed his gratitude towards Hoskinson through a reply email, acknowledging the importance of such support for his campaign.
Deaton emphasized that victory in the upcoming November elections would require collective effort and support from allies within the crypto community.
Crypto community’s political engagement and support for Deaton
The support for Deaton’s Senate campaign from figures like Hoskinson and Caitlin Long, founder of Custodia Bank, marks an increasing trend of political engagement from the cryptocurrency sector. This engagement aims to influence the legislative process in favor of a more favorable regulatory environment for cryptocurrencies. Deaton, known for his legal advocacy for XRP, aims to bring a pro-crypto perspective to the Senate, focusing on regulatory issues affecting the industry.
There is currently a lot of tension between the cryptocurrency community and certain figures within the Biden administration, such as Senator Warren, who have expressed criticism towards the crypto industry. In response to this, crypto community members are supporting Deaton as a strategic move to potentially challenge and change the legislative environment surrounding cryptocurrency regulation.
