• Elizabeth Warren has been re-elected for her fourth term as Senator in the US elections. 
  • The Senator has been quite critical of the crypto industry in the past few months.

The cryptocurrency market has become a spur of activity as Bitcoin hits a new milestone in ATH. The digital asset surged to the $75K level coinciding with market expectations and much to the joy of investors. US electoral events that influenced BTC price have been causing quite a frenzy instigating new bullish momentums. 

While Trump is currently leading, in the State of Massachusetts, crypto advocate and XRP supporter John Deaton has lost to Elizabeth Warren. This is Warren’s fourth term in the US Senate, serving in the Democratic party. The senator vetoed several crypto-friendly bills in her previous term and has been intensely critical of the crypto industry.  

On the other hand, Republican candidate John Deaton had expressed great support for the crypto industry. He also endorsed Ripple in the Ripple Vs. SEC lawsuit. Recently, on October 25, Deaton posted a detailed summary of the SEC’s approach to crypto and criticized the ‘regulation through enforcement’ policy. 

Thus the victory of Warren over Deaton has led to some uncertainty within the community, although the overall results still show potential for pro-crypto leaders. Moreover, the US elections activity has blown a storm of actions within the global crypto market as several prominent tokens have hit important milestones. 

Warren Vs. Deaton’s Crypto Stance

Senator Elizabeth Warren holds a long history of being anti-crypto with crucial actions. For instance, recently in February, Warren criticized the crypto industry for its ‘promoting illicit activities’. The senator mentioned so while discussing the Anti-Money Laundering bill that introduces stricter regulations for banks dealing with digital assets. 

Moreover, in the recent debate with Deaton, the Republican candidate highlighted how Warren’s bill banks self-custody of Bitcoin. Additionally, the bill was said to promote banks’ custody of Bitcoin. Moreover, Deaton’s crypto stance caused Ripple founder Brad Garlinghouse to endorse the candidate before the elections. 

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Bitcoin Hits New All-Time High as US Election Fuels Bullish Momentum