Updated 22 Oct, 2024

Written by Vivek

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Warren Has To Go: Elon Musk Agrees With Coinbase CEO's Endorsement Of Pro-$XRP Deaton

   Tech mogul Elon Musk agreed with the statements made by Coinbase CEO Brian Armstrong regarding the senatorial race for Massachusetts, wherein 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 about Warren being "anti-freedom," and captioned the post with a "Yes."Armstrong Endorses Deaton, Musk OKs MoveThe crypto executive said Monday that "crypto holders in MA should realize Warren is the one who got Gary Gensler his job and encouraged him to (unlawfully) try and kill the crypto industry in America."Armstrong went on to note how it was a lucky instance that the Democratic senator and Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), didn't succeed, especially since Coinbase and other crypto firms "fought back."He said residents of Massachusetts should vote for Deaton, a prominent 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 wherein 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 DeatonMany 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 StanceWhile Musk is known as a fan of the world's top memecoin, Dogecoin (DOGE), he hasn't been very vocal about other cryptocurrencies. On the other hand, 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 elections, 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 fared comparatively well against Warren during a crypto clash on their debate last week.

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Market capitalization, or market cap, is calculated by multiplying the current price of a cryptocurrency by the total number of coins or tokens that are in circulation.
As of August 2024, the top 10 cryptocurrencies by market cap represent a diverse array of digital assets, each with unique features and applications. Bitcoin (BTC) leads the market as the first and most valuable cryptocurrency, often regarded as digital gold. Ethereum (ETH) follows