Elizabeth Warren Wins Third Senate Term, Overcomes Challenge From Crypto-Backed GOP Candidate John Deaton

Veteran Democrat Elizabeth Warren has triumphed in securing a third term in the Massachusetts Senate, outpacing her pro-cryptocurrency opponent John Deaton.

What Happened: The Associated Press declared Warren the winner at 8:00 p.m. EST, as results of the high-stakes presidential and congressional races started trickling in.

Warren expressed gratitude to Massachusetts voters after victory and pledged to continue working for their interests in Washington.

“Thank you, Massachusetts! I'm deeply grateful that you've decided to send me back to the Senate,” she wrote in an X post.

See Also: What The US Election Means For The Future Of Crypto ETFs

Why It Matters: Warren’s win is particularly significant given the contentious nature of her campaign against Deaton.

The two candidates clashed over the issue of cryptocurrencies, with Warren accusing Deaton of working only for the interests of big cryptocurrency companies, a charge which he vehemently denied.

Warren has been detested by the cryptocurrency community because of her overtly critical stance on the industry. She has argued for more regulations, arguing that it facilitates illegal activities that are largely untraceable.

In her defense, Warren said that she was okay with people buying and trading cryptocurrencies as long as they were subjected to the same laws as the traditional market.

Deaton's election effort received significant financial support from prominent industry figures, including the Winklevoss twins, who donated $1 million to Bitcoin (CRYPTO: BTC) to the attorney.

Photos courtesy: Gage Skidmore via Flickr and John Deaton Campaign

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.