Ripple and Winklevoss Twins Boost Pro-Crypto Political Campaign

Ripple has drawn attention by making a sizable financial contribution to support a senator who is supportive of cryptocurrencies. In an effort to remove Senator Elizabeth Warren and assist pro-XRP lawyer John Deaton, the blockchain corporation has contributed $1 million to a newly formed Super Political Action Committee (PAC).

The cryptocurrency community came together to support Deaton because of Senator Elizabeth Warren, a former law professor and current U.S. senator from Massachusetts, who has a reputation for taking a hard line on cryptocurrencies. Earlier this year, two Ripple executives, Brad Garlinghouse and Chris Larsen, made personal donations to this cause, demonstrating their dedication to promoting reasonable regulations for the industry.

Ripple’s Bold Move in Politics

Journalist Eleanor Terrett of Fox Business revealed the noteworthy development that has sparked controversy in the cryptocurrency world in a post on X (previously Twitter). She claims that Ripple Labs, the company behind XRP, donated $1 million to the Commonwealth Unity Fund, a Super PAC founded by attorney James Murphy, also known as MetaLawMan on X.

🚨SCOOP: @Ripple has donated $1M to the Commonwealth Unity Fund, a new super PAC set up by attorney James Murphy aka @MetaLawMan, to unseat @SenWarren and elect @JohnEDeaton1 as Massachusetts’ next Senator. Murphy donated $50K.

More details and story to come. pic.twitter.com/32kadpAkE1
— Eleanor Terrett (@EleanorTerrett) July 15, 2024

The latest donation will bolster John Deaton’s campaign to become the next senator from Massachusetts, complementing contributions from other supporters. Deaton, a former US Marine, has significantly advanced the promotion of cryptocurrencies in the US. His notable involvement in the Ripple v. SEC lawsuit played a crucial role in Judge Torres’ decision that XRP sales made through programmatic channels do not qualify as investment contracts.

James Murphy responded to Terrett’s message by stressing the vital significance of the approaching election and the need for active involvement. He wrote, “For me and my family, this election is simply too important to just stand on the sidelines,” on his X page. Murphy also emphasized the importance of having a pro-crypto senator in the Senate, similar to Deaton, and asked the public to help the cause by going to the specified website.

For me and my family, this election is simply too important to just stand on the side lines.

We desperately need a uniter like @JohnEDeaton1 in the Senate.

Please visit https://t.co/la31OdvpYz if you are inclined to help.

Thank you. https://t.co/dt8BwOmJgp
— MetaLawMan (@MetaLawMan) July 15, 2024

Also read: Bitcoin Price Could Hit $330K as Institutions Buy the Dip

Winklevoss Twins Contribute $500,000 to Pro-Trump Super PAC

According to a Federal Election Commission report on Monday, pro-Trump Super PAC America PAC received contributions of $250,000 from Gemini co-founders Cameron and Tyler Winklevoss, who are also bitcoin billionaires, on June 21.

Elon Musk reportedly gave the super PAC $45 million a month, according to the Wall Street Journal. Musk refuted this on X, claiming it was a bogus report and pointing out that his name wasn’t in the document.

Tyler Winklevoss and Cameron contributed $4.9 million to Fairshake in February, and they just said that they will each donate $1 million in Bitcoin to Trump’s campaign. Super PACs are not allowed to make direct contributions to politicians like regular PACs are; instead, they must make their expenditures.