Senate hopeful John Deaton applauded the efforts of Democratic-leaning cryptocurrency advocates Mark Cuban and Anthony Scaramucci in opposing SEC Chair Gary Gensler’s unfriendly policies on digital assets.
What Happened: On Wednesday, Deaton, who is fighting against Democratic rival Sen. Elizabeth Warren (D-Mass.), took to X to express his discontent with Gensler and the SEC’s approach towards cryptocurrencies.
Deaton is well-known in the cryptocurrency space for his support of Ripple Labs in its ongoing legal battle with the SEC, where he legally represented several individual XRP XRP/USD holders.
Slamming both Gensler and Warren, Deaton highlighted his persistent battle with the duo’s anti-cryptocurrency policies.
“What's truly sad is that Gensler has dishonored the countless number of good people working under him and who no doubt want to do the right thing,” Deaton said.
The attorney noted the active role of billionaire investor Mark Cuban and SkyBridge Capital CEO Anthony Scaramucci in advising the Kamala Harris team and speaking out openly against Gensler’s policies.
“When leaders like Scaramucci and Cuban, who are actively advising Kamala Harris and her team, speak out against Gensler and how he's hurting America and American entrepreneurs and consumers, maybe it's time for our elected leaders to pay attention.”
See Also: PayPal Steps Up Crypto Game, Allows US Merchants To Buy, Sell, And Hold Digital Assets
Why It Matters: Deaton’s response came in the wake of Cuban calling Gensler a ‘blight’ after the SEC Chair was grilled by Congress on his stance on cryptocurrencies. Similarly, Scaramucci publicly called for the resignation of the SEC’s top executive
Both Cuban and Scaramucci are important figures in the “Crypto for Harris” advocacy group, established to build political support for the vice president among cryptocurrency enthusiasts and counteract Republican candidate Donald Trump’s aggressive outreach.
While both of them support Harris in her race to the White House, they back Deaton to win against sitting Senator Warren.
Deaton’s campaign has received significant support from the cryptocurrency industry. Tyler and Cameron Winklevoss, co-founders of the cryptocurrency exchange Gemini, donated $1 million in Bitcoin BTC/USD to the attorney earlier in July.
What's Next: Anthony Scaramucci and other industry experts like Caitlin Long and Jan van Eck will discuss the impact of the incoming administration on digital asset policy at Benzinga’s Future of Digital Assets event on Nov. 19.
Photos courtesy: Gage Skidmore via Flickr and John Deaton Campaign
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