KEY POINTS
- Armstrong claimed Warren 'encouraged' Gensler to 'try and kill the crypto industry'
- Musk re-shared Armstrong's post, and captioned his own post with a 'Yes'
- Notably, Musk dodged a question about the $XRP Ledger on Sunday
- Deaton is dear to the crypto community for his past work with $XRP holders
Tech mogul Elon Musk agreed with the statements made by Coinbase CEO Brian Armstrong regarding the senatorial race for Massachusetts.
The chief executive of one of the world's largest cryptocurrency exchanges endorsed pro-crypto lawyer John Deaton over Sen. Elizabeth Warren.
Musk, who campaigned for Republican presidential candidate Donald Trump in Pennsylvania, re-shared Armstrong's post claiming Warren was being "anti-freedom," and captioned the post with a "Yes."
Armstrong Endorses Deaton, Musk OKs Move
The crypto executive said Monday that crypto holders in Mass. should realize Warren is the one who got Gary Gensler his job and allegedly encouraged him to try and kill the crypto industry in America. He claimed that was illegal.
Armstrong said the Democratic senator and Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), didn't succeed because Coinbase and other crypto firms "fought back."
Agreed - Massachusetts residents should vote for @JohnEDeaton1
— Brian Armstrong (@brian_armstrong) October 21, 2024
Crypto holders in MA should realize @SenWarren is the one who got Gary Gensler his job and encouraged him to (unlawfully) try and kill the crypto industry in America. Luckily they did not succeed as we and others… https://t.co/uLcBzIXyTV
He said residents of Massachusetts should vote for Deaton, a pro-crypto lawyer who is known in the crypto community for his pro bono work for holders of the XRP token in a lawsuit filed by the SEC against Ripple, the largest holder of XRP.
Armstrong's comments were in response to crypto lawyer James Murphy's post where he said "Deaton has done more for crypto freedom than all other candidates combined."
"She is anti-freedom, thinks the government should run all financial services (similar to China), and has done enormous harm to this country," Armstrong concluded.
Crypto Community Champions Deaton
Many crypto users took to the comments to hail the work Deaton has done for the community and the industry as a whole.
"You could have pointed out that John Deaton actively protected the crypto industry as well. It's not just that Warren is atrocious, Deaton is a knight in shining armor defending crypto," one XRP user said.
One Solana (SOL) user said Deaton comes in with a "fresh perspective" that could benefit not just everyday citizens but also the crypto sector.
Another called Deaton a "strong advocate for crypto holders" and called on the community to push back against government and regulatory "overreach."
Musk's Crypto Stance
While Musk is a fan of the world's top meme coin, Dogecoin (DOGE), he hasn't been very vocal about other cryptocurrencies.
He said Sunday that he thinks crypto can be a "bulwark" against centralized control. He was asked whether he thinks the XRP Ledger will be integrated into traditional financial institutions in the future. He dodged the question and said his statements shouldn't be taken as an endorsement or a lack of endorsement for XRP token.
It is unclear if Musk will help fund Deaton's campaign, with two weeks left before the election, but his "yes" and reposting of Armstrong's endorsement statement has been taken by the crypto community as his indirect endorsement of the former U.S. Marine, who held a "crypto clash" during a debate last week.
