With the US general election just 15 days away, Elon Musk, Tesla CEO and prominent Dogecoin supporter, is throwing his weight into the political fray with his recent endorsement of pro-XRP lawyer John Deaton, who is running for a Senate seat. Against Massachusetts Senator Elizabeth Warren, aka Anti-crypto stance.
Is Musk aligned with pro-crypto movements?
Musk’s support came in response to A mail Written by Coinbase CEO Brian Armstrong, who urged Massachusetts voters to support Dayton. Armstrong stressed that Warren played a pivotal role in appointing Gary Gensler as Chairman of the Securities and Exchange Commission (SEC), which he claims was harmful to the cryptocurrency industry.
Musk echoed Armstrong’s sentiments, strengthening his alignment with a Republican Party that is now increasingly pro-crypto and its figurehead, Donald Trump, who He promised out loud To support the industry if he returns to the Oval Office in January.
Armstrong described Warren as “anti-liberty,” saying she believes the government should control financial services, similar to practices in China. Musk Repeat This felt like a simple “yes” in response to Armstrong’s assertions, indicating his strong disapproval of Warren’s policies. Armstrong stated:
MA crypto holders should be aware that it was @SenWarren who got Gary Gensler his job and encouraged him to try to take down the cryptocurrency industry in America (illegally). Fortunately, they did not succeed as we and others resisted.
Warren’s stance on cryptocurrencies in debate against pro-XRP Deaton
The political scene intensified after the debate between Warren and Deaton, where the senator surprised many by expressing a conditional openness to digital assets, provided that the industry adheres to regulations similar to traditional financial institutions.
like I mentioned By Bitcoinist The senator, who has been at the forefront of the anti-crypto movement in the Senate, said: “I support having a crypto system if people want to buy and sell cryptocurrencies. “All I want is some fair ground rules,” marking a departure from her historically hostile rhetoric. Towards the cryptocurrency industry.
However, Deaton challenged Warren’s stance, asserting that “the rules are already in place” and questioning her motives for aligning with “anti-crypto sentiment.” He further argued that Warren Policies It negatively affected the working class, saying it “hurts the poor.”
During the discussion, the pro-XRP lawyer also criticized Warren for focusing her attacks on cryptocurrencies while neglecting pressing issues like inflation and border security.
Warren responded by pointing out that if Dayton won a Senate seat, he would presumably prioritize Republican interests. Cryptocurrency industryWhich means that figures in the digital asset sector are funding his campaign.
At the time of writing, XRP is trading at $0.5455, having seen sideways movement over the past two weeks, with gains of 0.5% and 1.3% over the seven- and fourteen-day periods respectively.
Featured image of DALL-E, chart from TradingView.com