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Senator Elizabeth Warren, known for her outspoken criticism of the crypto industry, has reportedly secured re-election to a third consecutive term in the Massachusetts Senate race, defeating Republican opponent John Deaton.
Massachusetts voters have repeatedly elected Warren to represent them in Washington, supporting her commitment to progressive priorities and her focus on financial regulation. Serving on both the Senate Finance Committee and the Senate Banking Committee, she has earned a reputation as “anti-crypto” for her strong push for strict regulations on the cryptocurrency industry.
According to the Associated Press, Warren had won 61% of the vote, which led Deaton to congratulate her on X. During a livestream, the Republican challenger added: “I’m proud of my campaign and how it was run for this entire time; no lies, no name calling, just trying to focus on policy.
“Although it was fun to tell the truth, look her in the face and say, ‘We know all of you suck in Congress.’”
Warren has introduced legislation that seeks to extend anti-money laundering requirements to various crypto service providers, including digital wallet operators and miners—a move seen by many in the crypto community as overly intrusive.
While Deaton, backed by notable figures such as Mark Cuban and Ripple CEO Brad Garlinghouse, is a well-known crypto advocate and attorney. He has built a reputation through his vocal support for the crypto industry and his involvement in high-profile legal actions related to Ripple.
Warren seen as ‘threat’ to crypto industry by some
In July, ReadWrite reported that Tyler and Cameron Winklevoss, co-founders of cryptocurrency exchange Gemini, each contributed $500,000 in Bitcoin to support efforts to replace her. Tyler wrote in a thread on X: “Elizabeth Warren is one of the single greatest threats to American prosperity. When it comes to crypto, she is public enemy number one.”
I just donated $500k in bitcoin (8 BTC) to @DeatonforSenate to help him unseat @SenWarren as a U.S. Senator. Here’s why:
Elizabeth Warren is one of the single greatest threats to American prosperity. When it comes to crypto, she is public enemy number one. She’s the chief… pic.twitter.com/FK2a1JenlF
— Tyler Winklevoss (@tyler) July 18, 2024
Warren previously criticized Deaton during a crypto policy debate. She said: “He’s saying he has really made crypto folks mad, so mad that they came here to Massachusetts and are funding 90% of his campaign to try to take back this Senate seat to take it away from me.”
Deaton pushed back by challenging Warren’s stance on crypto, arguing that Bitcoin has the potential to eliminate predatory banking practices and assist individuals without access to traditional banking to participate in the financial system.
Featured image: Ideogram
