Former Ripple CTO David “JoelKatz” Schwartz quietly signaled support for John Deaton’s Senate bid by sending an undisclosed amount of XRP to the campaign — a move that matters more for who sent it than how much.
The exchange unfolded publicly on X: Deaton posted a fundraising appeal on May 15 emphasizing that his campaign is powered by small-dollar donors, not PACs, lobbyists or special interests. Two days later Schwartz, posting from his long-running JoelKatz account, replied simply, “Sent some XRP.” Deaton responded: “Thank you David!”
Deaton is mounting another Senate run in Massachusetts after winning the 2024 Republican primary and losing that general election to Sen. Elizabeth Warren. This time he’s targeting the seat held by Democratic Sen. Ed Markey, who is running for re-election. In the fundraising video attached to his post, Deaton framed his campaign as an outsider challenge to entrenched Washington power: “I don’t take big money. I don’t take PAC money. I don’t take money from lobbyists… most of my donations are small donations. We’re talking $50, $25, $100.” He also highlighted policy priorities including plans to reduce electricity prices, build 5 million homes nationwide in five years, and reform healthcare to curb the power of large vertically integrated insurers.
For the crypto community the contribution is notable largely because of the sender. Schwartz is one of the best-known technical figures associated with Ripple and XRP; Deaton has built a national profile among digital-asset advocates for his vocal defense of XRP holders and criticism of the SEC’s crypto enforcement. The optics of a high-profile XRP figure backing Deaton underscore the continuing crossover between the crypto sphere and U.S. politics — even if the donation’s size was not disclosed.
Deaton’s 2024 committee filings showed a campaign that relied heavily on personal funding and individual donations: $2.24 million in total receipts, including $1 million in loans from Deaton and $1.15 million in individual contributions. In his latest appeal he again stressed that grassroots support is essential: “The only way I win is if people like you… donate whatever you can afford.”
Whether Schwartz’s contribution shifts Deaton’s electoral prospects is unclear. Massachusetts remains a challenging landscape for Republican candidates, and Deaton was defeated by Warren in 2024. At press time, XRP was trading at $1.38.
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