Here is the rewritten content:
We do the research, you get the alpha!
Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game!
Go to Alpha Reports
Ripple Labs Donates $1 Million to Defeat Elizabeth Warren
Ripple Labs has donated $1 million to help defeat prominent crypto critic Sen. Elizabeth Warren (D-MA) this November.
A company spokesperson confirmed to Decrypt on Tuesday that it made the payment to the Commonwealth Unity Fund, a super PAC set up to support the campaign of one of Warren’s Republican challengers, crypto attorney John Deaton.
The spokesperson declined, however, to comment on whether Ripple plans to spend additional funds on the race. They also did not clarify how the company’s leadership makes decisions about funding political campaigns.
So far, it appears that Ripple is the Commonwealth Unity Fund’s primary source of funding. The company’s gift accounted for over 95% of donations to the PAC last quarter.
Why Ripple Wants to Defeat Elizabeth Warren
Though the crypto industry has already put its weight behind numerous political races across the country, defeating Elizabeth Warren would likely constitute the greatest prize among them all. The senior senator from Massachusetts has long been a vocal detractor of crypto, and is widely considered to be one of the key forces behind President Joe Biden’s hostile stance on the industry.
A Company Profile
Ripple is plenty incentivized to attempt to shake up government leadership at the federal level. For years, the crypto firm has been engaged in a bitter legal battle with the U.S. Securities and Exchange Commission (SEC). Lawyers for the government regulator told a judge in May that they want to see Ripple hit with a fine of at least $2 billion.
Conclusion
It is clear that Ripple has already put its weight behind numerous political races across the country.
