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John Deaton Loses Senator Bid to Elizabeth Warren

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2 hours ago

November 6, 2024

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US Senator Elizabeth Warren secured her third term in Massachusetts. She defeated Republican challenger John Deaton, a high-profile attorney and advocate for cryptocurrency.

The Associated Press announced the victory on Tuesday night at around 8 p.m. as Warren claimed 73% of the vote compared to Deaton’s 26%.

Deaton faced an uphill battle in his first political campaign despite his popularity within the crypto community as an outspoken XRP advocate and broader calls for friendly regulation. He emerged as a Republican Senate nominee by defeating rivals Robert Antonellis and Ian Cain in a three-way primary.

His campaign received significant support from prominent figures in the crypto industry, including billionaire Mark Cuban. Ripple CEO Brad Garlinghouse also endorsed Deaton, commending his commitment to advocating for the digital asset sector. This backing raised Deaton’s profile and highlighted the contrast between him and Warren, particularly in their differing views on cryptocurrency regulation.

Throughout his campaign, Deaton focused on his vision for a balanced regulatory approach to crypto. In an interview with BeInCrypto, he previously expressed his belief that “overregulation” would stifle innovation and harm American competitiveness.

This stance resonated with crypto advocates. Nevertheless, it struggled to capture a broad base of support among traditional voters in Massachusetts. Warren’s record as a seasoned legislator held strong appeal.

John Deaton vs. Elizabeth Warren. Source: New York Times

Meanwhile, Senator Warren, a powerful figure known for her prior stance against the crypto industry, softened her tone in recent weeks.

“I’m all for having a cryptosystem if people want to buy and sell crypto. All I want is for them to follow the same rules as everyone else,” Warren said.

Previously, she had called for strict measures to rein in crypto, often framing it as a risk to consumers and a tool for financial crime. Tyler Winklevoss, co-founder of the Gemini cryptocurrency exchange, has been a vocal critic of Warren’s approach to digital assets, often labeling her perspective as “outdated” and “overly restrictive.”

Warren’s victory likely ensures that regulatory scrutiny of digital assets will remain on the agenda in Washington. However, her recent shift from harsh critique to a more balanced tone could signal a new phase in the crypto-regulation debate.

Although Deaton lost by a large margin, his campaign showcased the increasing prominence of cryptocurrency issues in US politics. His platform resonated with crypto-friendly voters and industry advocates who view the sector as the future of finance.

Despite his defeat, Deaton struck a conciliatory tone in his concession speech. He extended an offer to collaborate on areas of mutual interest, suggesting potential bipartisan efforts even on contentious topics.

“I just called Senator Warren and congratulated her on her victory. If there was something that you think I could be helpful with, for example, women’s reproductive rights or issues we agree upon… I wouldn’t hesitate to offer my assistance,” Deaton said.

Moving forward, Deaton said he would continue advocating for clear and reasonable crypto policies. Specifically, he would remain involved in the Ripple versus SEC (Securities and Exchange Commission) case regarding XRP’s status.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Dogecoin (DOGE) Jumps 10%+: Is More Upside Ahead?

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XRP Price Momentum Reignites As Bitcoin Hits New ATH: Is a Major Rally in Sight?

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Market

Dogecoin (DOGE) Jumps 10%+: Is More Upside Ahead?

Published

59 mins ago

November 6, 2024

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Dogecoin started a fresh surge above the $0.180 resistance against the US Dollar. DOGE could continue to rise if it clears the $0.2200 resistance.

DOGE price started a fresh rally like Bitcoin and climbed above the $0.180 resistance level.
The price is trading above the $0.1800 level and the 100-hourly simple moving average.
There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair (data source from Kraken).
The price could continue to rally if it clears the $0.2150 and $0.2200 resistance levels.

Dogecoin Price Eyes More Gains

Dogecoin price started a fresh surge after it reclaimed the $0.1650 resistance like Bitcoin and Ethereum. DOGE was able to gain pace for a move above the $0.1800 and $0.1850 resistance levels.

There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair. The pair even surged above $0.2000. A high is formed at $0.2200 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high.

Dogecoin price is now trading above the $0.200 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2150 level. The next major resistance is near the $0.220 level.

A close above the $0.220 resistance might send the price toward the $0.2320 resistance. Any more gains might send the price toward the $0.2420 level. The next major stop for the bulls might be $0.250.

Are Dips Supported In DOGE?

If DOGE’s price fails to climb above the $0.2150 level, it could start another decline. Initial support on the downside is near the $0.2080 level. The next major support is near the $0.1920 level or the 50% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high.

The main support sits at $0.1780. If there is a downside break below the $0.1780 support, the price could decline further. In the stated case, the price might decline toward the $0.1650 level or even $0.1620 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.2080 and $0.1920.

Major Resistance Levels – $0.2150 and $0.2200.

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Market

XRP Price Momentum Reignites As Bitcoin Hits New ATH: Is a Major Rally in Sight?

Published

3 hours ago

November 6, 2024

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XRP price is gaining pace above the $0.5050 support zone. The price is rising and might even aim for a move above the $0.5500 resistance.

XRP price is eyeing a decent increase above the $0.5250 zone.
The price is now trading above $0.5220 and the 100-hourly Simple Moving Average.
There was a break above a connecting bearish trend line with resistance at $0.5100 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could gain bullish momentum if it settles above the $0.5350 resistance zone.

XRP Price Climbs 4%

XRP price remained supported above the $0.4880 level. It formed a base and started a fresh increase above $0.5050 like Bitcoin and Ethereum.

There was a move above the $0.5120 and $0.5200 resistance levels. There was a break above a connecting bearish trend line with resistance at $0.5100 on the hourly chart of the XRP/USD pair. Finally, it tested the $0.5365 zone. A high is formed at $0.5368 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5368 high.

The price is now trading above $0.5200 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5350 level. The first major resistance is near the $0.5365 level.

The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5665 resistance or even $0.5720 in the near term. The next major hurdle might be $0.5840.

Another Decline?

If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5250 level. The next major support is near the $0.5155 level or the 50% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5368 high.

If there is a downside break and a close below the $0.5155 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.500 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.5250 and $0.5155.

Major Resistance Levels – $0.5350 and $0.5500.

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Market

Bitget’s New Token Listing Portal Demands Quality, Not Fees

Published

4 hours ago

November 6, 2024

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Bitget, a leading crypto exchange, opened a transparent new listing application portal for project teams. This comes shortly after several other crypto exchanges face allegations of charging huge fees for token listing.

Bitget will not charge project teams to receive a listing, but the exchange demands high standards for all listed tokens.

Bitget’s Token Listing

Crypto exchange Bitget opened a new application portal for token listings, according to a press release shared with BeInCrypto. Bitget promised that the portal would include enhanced due diligence and a rigid review process for token listings and generally aim to provide project teams with transparency. This comes one day after a major token listing controversy from Binance and Coinbase.

Specifically, several token developers and community leaders described incidents where these exchanges asked for exorbitant listing fees. These include an alleged demand for 15% of one team’s total token reserve or similar expenses to receive a listing. Major exchange listings can significantly increase token valuation and trade volume, leading some to pay high premiums.

Exchange Performance Highlights. Source: Mo Ezeldin

In this controversy, several parties from both sides have advocated for the growing decentralized exchange sector. However, Bitget is a centralized exchange, and it’s using this new listing portal to claim it’s a transparent one.

“[We] at Bitget strive to create a platform where crypto gems can truly shine. Bitget prioritizes projects with strong innovation, network effects, and ecosystem value. Our listing and security team work closely to make sure we bring trustworthy projects on the platform. We aim to… [drive] continuous innovation and prosperity in the crypto industry,” Bitget CEO Gracy Chen stated.

Bitget emphasized that it does not charge any fees during the listing application process, whether to begin or as payment for assessment services. The firm also claims to collaborate with project teams in several steps and monitor tokens after the official listing. Underperforming tokens may even face delisting if they fail to meet quality standards continually.

However, the process isn’t easy. Above all, Bitget asks potential clients to report any improper conduct or conflicts of interest from company representatives.

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