Coinbase CEO backs pro-XRP lawyer, Calls out Warren’s agenda

John Deaton, a pro-XRP lawyer and Republican candidate from Massachusetts, is bagging traction in his battle against Senator Elizabeth Warren. Coinbase’s CEO, Brian Armstrong, endorsed Deaton in a fresh X post, and raised questions against the US SEC Chair, Gary Gensler. 

Sen. Warren and Deaton had already faced each other over crypto policy in their first debate that took place on October 15. The challenger accused Warren of prioritizing an “anti-crypto army” over pressing issues for lower and middle-class citizens.

Warren is anti-freedom, suggests Coinbase CEO

Brian Armstrong agreeing to the attorney James Murphy’s (aka MetaLawMan) stance asked Massachusetts residents to vote for John Deaton. He added that crypto holders need to realize that Sen. Warren is the one who got Gary Gensler his job. In an X post, he alleged that Warren encouraged the SEC chair to (unlawfully) try and kill the crypto industry in America. However, they didn’t manage to succeed in this battle as the industry fought back. 

Coinbase CEO stated that Warren is anti-freedom and thinks the government should run all financial services and has done major harm to this country.

Earlier, Armstrong endorsed Dave McCormick and urged Pennsylvanian residents to vote for the candidate. He suggests that McCormick is the better candidate for crypto among many other credentials.

If you live in Pennsylvania you should vote for @DaveMcCormickPA

He is the better candidate on crypto (among many other credentials) https://t.co/BMFIVwB8NO

— Brian Armstrong (@brian_armstrong) October 20, 2024

John Deaton, famous as the crypto lawyer, has been a part of the long running legal battle between the US SEC and Ripple. As an amicus curiae, he represented thousands of XRP holders in the case. However, he even filed an amicus brief in support of a motion for interlocutory appeal on behalf of over 4,000 customers in the Coinbase case.

Deaton critiques Warren’s crypto focus

Sen. Warren and Deaton went face to face on the policies in the fiery debate. Pro-crypto lawyer highlighted state issues like illegal immigration and inflation. He questioned why Warren would focus on crypto amidst these challenges.

She defended her stance by stating that she supports crypto trading but insists the industry must comply with the same regulations as banks. This is needed just in order to ensure consumer protection and counter-terrorism measures. The senator argued that crypto often facilitates illegal activities which is linked to terrorists and drug traffickers. For a while, both candidates agreed that traditional banking has failed many Americans.

Deaton criticized Warren’s focus on crypto during a Senate Banking Committee hearing. He noted that she didn’t question JPMorgan’s CEO about the bank’s history with sex trafficking, despite having the opportunity.

In a fight back, Warren countered by pointing out that 90% of Deaton’s campaign funding comes from the crypto industry. She alleges that those funds would expect a favorable return on investment if he were elected.