TechFlow news: The political action committee Commonwealth Unity Fund, primarily funded by Gemini and Ripple Labs co-founders, has spent over $600,000 supporting Republican Senate candidate John Deaton.
According to Federal Election Commission (FEC) records, the super PAC spent approximately $330,000 on media buys opposing incumbent Democratic Senator Elizabeth Warren, and a similar amount promoting Deaton.
Deaton, a lawyer who supports crypto firms like Ripple, has criticized the SEC and Senator Warren for excessive intervention in digital assets. FEC records show Commonwealth has raised over $2.5 million to support Deaton, while Warren has raised more than $18 million for her re-election bid since 2019. Other crypto-backed PACs such as Fairshake are also investing heavily in congressional elections.
