John Deaton, a cryptocurrency attorney and commentator who moved to Massachusetts less than a month ago, is running as a Republican to represent the state in the US Senate, challenging Elizabeth Warren in a long-shot bid that is likely to focus on their differing views on the crypto industry.
Deaton, 56, is perhaps best known for his foray in recent years into litigation involving the fledgling cryptocurrency industry. But he makes no mention of it in an announcement video released Tuesday and insists it will not be the focus of his campaign, instead rooting his first formal introduction to Massachusetts voters in his political biography. He was raised in poverty in Detroit and became the first in his family to complete high school before graduating from Eastern Michigan University and New England Law Boston and joining the Marines. He has worked as a mesothelioma and asbestos attorney for decades, starting his own law firm in Rhode Island, and became interested in the little-regulated cryptocurrency industry only recently.
Deaton said in an interview with the Globe that his path — from growing up in a city where he said “people are just left to rot in poverty” to a successful law practice — makes him “the walking, breathing, living embodiment of the American dream.”
“And I am scared to death that I am watching it die before my eyes because of the political elites and partisan people like Elizabeth Warren,” Deaton added. “I’m running because I understand the struggles of regular people, people who feel like no matter how hard they work, no matter what they do, they still just can’t seem to get ahead. I understand those struggles because I’ve lived through them.”
Deaton is the first major challenger to emerge for Warren in her so-far sleepy race for a third term. A spokesperson for the senator said last week she is “taking nothing for granted” and “has a strong record of delivering for working families and continues to fight hard for the people of Massachusetts.”
Deaton told the Globe he wants to run a campaign about kitchen table issues, not cryptocurrency. But the fledgling industry may nonetheless become a focus of his race against Warren, who is one of Washington’s most vocal advocates for regulation. He has been a loud critic of her positions on the industry, even forecasting his challenge just months ago.
“Is there time for me to buy a home in Massachusetts, actually move there, and run for Senate against this government overreach hack in 2024?” Deaton asked in December on X, formerly known as Twitter, reposting a video of Warren speaking about the threats posed by cryptocurrency.
Deaton’s online presence, including his website CryptoLaw and his YouTube channel of the same name, feature frequent and detailed commentary on the industry, as do his posts on X. He has also gotten involved in related litigation, including by filing an amicus brief in a lawsuit between the Securities and Exchange Commission and Ripple Labs, one of the world’s most highly valued cryptocurrency companies. The SEC had accused Ripple of illegally selling more than $1 billion of digital currency to investors, litigation that came as part of a broad sweep of enforcement against the fast-moving industry. Deaton, who owned Ripple’s crypto token, known as “XRP,” argued he and other XRP holders should be permitted to intervene in the case.
Deaton said his interest in cryptocurrency stems from his childhood, when minimum balance requirements and other fees made it impossible for his impoverished single mother to maintain a bank account. Recalling the years he paid a $10 fee to send her $100 via Western Union, he said, “I was like, ‘Wow, you can take out the banks…. We can eliminate the predatory actions of these intermediaries.”
Still, he insisted, “I’m not running on crypto.”
A political newcomer, Deaton has never run for office before and said he will seed his bid with $500,000 of his own money to demonstrate he is launching “a credible campaign.” He said he cannot afford to self-fund and does not expect to outraise Warren, but left the door open to injecting more of his own money into his candidacy.
“Everything’s on the table,” he said. “I plan to win.”
Warren reported having about $4 million cash on hand at the end of 2023.
Deaton characterized himself as a “moderate centrist Republican,” and noted he has been registered as a Republican, Democrat, and independent voter. Rhode Island voter records indicate he is not affiliated with a political party there. He registered to vote as a Republican in Massachusetts less than a month ago, listing his address as Mohill Avenue in Swansea, according to the town clerk.
Deaton has given political contributions over the years to the Democratic Congressional Campaign Committee and Democratic candidates, including former Rhode Island governor Gina Raimondo and presidential candidate John Edwards, state and federal campaign finance records shows. A frequent online critic of Warren, he has also gone after Republicans, criticizing the Senate minority leader, Mitch McConnell, and former president Donald Trump.
“I am not a partisan person. If there’s an issue… you’re not going to be able to say, ‘Well, Deaton for sure is going to vote this way, because that’s what the Republicans think,’ ” he said. He said he believes he will appeal to Republicans, independents, and Democrats alike.
Deaton moved across the border from Rhode Island to Swansea in late January, and said he has also obtained a Massachusetts driver’s license, registered his car in the state, and plans to file income taxes in Massachusetts this year.
Deaton’s home on Rumstick Road in Barrington, R.I., was listed for sale on Feb. 17, according to Zillow.
Deaton insisted he did not move to Massachusetts solely to take on Warren.
“I love the Commonwealth of Massachusetts,” he said. “Win or lose, I’m a Massachusetts resident for the foreseeable future.”
Even before he moved, Deaton said, he has had a long relationship with Massachusetts, having represented dozens of clients in the state over the years and traveled frequently over the border to shop or go to the movies. He lived in the Boston area during law school, when he also worked as a waiter at Legal Sea Foods.
Deaton was arrested in 2017 after he and his girlfriend attended her 8-year-old son’s football game at Barrington High School, where the woman’s former husband was also present. In his 2023 memoir, “Food Stamp Warrior,” Deaton alleges that the other man initiated an altercation, and that Deaton shoved him back only after being provoked and grabbed.
According to a police report about the incident, Deaton threatened to sue the officers and told one, “I pay more in taxes than your entire salary.” Later, the report said, Deaton asked the officer if he could hold up his middle finger in his mug shot.
The charges were ultimately dropped and Deaton performed 30 hours of community service. He later sued the Police Department.
Deaton told the Globe he was “arrested wrongfully” and wished he had behaved more civilly to the officers. He added, “I’ll never apologize for having that instinct to protect myself and protect others.”
Emma Platoff can be reached at emma.platoff@globe.com. Follow her @emmaplatoff.