Sunday, July 21, 2024

Cynthia Lummis backs Ian Cain over crypto lawyer John Deaton for Senate


Wyoming Senator Cynthia Lummis, one of many extra outspoken cryptocurrency advocates in america Congress, has endorsed Republican Ian Cain for a Massachusetts Senate seat.

In a July 8 announcement, Cain’s marketing campaign said Senator Lummis was backing the Republican candidate, citing his understanding of the “digital financial system” and his embrace of innovation. The endorsement might give Cain an edge in a major between his opponents, together with engineer Robert Antonellis and crypto-focused lawyer John Deaton.

“From the border to blockchain, Ian Cain understands the problems dealing with his neighborhood and he’ll struggle onerous on a regular basis for the Commonwealth,” stated Senator Lummis.

The Wyoming senator’s endorsement got here 57 days earlier than the Massachusetts Republican major and 120 days till the overall election in america. Republicans want to unseat incumbent Elizabeth Warren, who has served because the state’s Democratic senator since 2013. Senator Warren can be certainly one of Congress’s extra vocal anti-crypto voices, connecting cryptocurrencies to financing illicit actions.

Deaton is a lawyer who has filed amicus briefs in lots of high-profile crypto court docket circumstances, advocating for the know-how towards the U.S. Securities and Change Fee and criticizing Senator Warren for her anti-crypto viewpoints. His marketing campaign outraised Senator Warren’s within the first quarter of 2024, receiving funds from crypto-focused backers together with C-level executives at Gemini, Ripple and Kraken.

Associated: John Deaton files amicus brief in support of Coinbase appeal against SEC

Cain, a co-founder of the agency QUBIC Labs, launched his marketing campaign in April. Knowledge from the Federal Election Fee on fundraising for the Republican candidate was unavailable on the time of publication, doubtless as a result of his marketing campaign was launched after first-quarter 2024 filings. The Republican candidate has made many statements on his private X account suggesting that he helps crypto and blockchain know-how, together with supporting the Monetary Innovation and Expertise for the twenty first Century (FIT21) Act.

Supply: Ian Cain

As of Could 30, YouGov polls suggested that Senator Warren had a greater than twenty-point lead over Deaton and Cain. Cointelegraph reached out to Deaton and Senator Lummis for remark however didn’t obtain a response on the time of publication.

Crypto and blockchain have already turn into marketing campaign points for a lot of candidates operating for workplace in 2024, together with former U.S. President Donald Trump. The Republican candidate with a felony conviction has advocated for Bitcoin (BTC) mining in america and stated his marketing campaign would settle for crypto contributions. The transfer has reportedly prompted President Joe Biden to consider making digital assets extra of a marketing campaign concern with the election looming.

Journal: Crypto voters are already disrupting the 2024 election — and it’s set to continue