Ripple co-founder Chris Larsen has donated over $11.8 million to political action committees supporting Vice President Kamala Harris’s presidential campaign.
According to CNBC, the donations include $9.9 million to Future Forward PAC and $800,000 to the Harris Victory Fund, making Larsen one of the largest donors from the crypto industry this election cycle.
Larsen’s contributions reflect his confidence in Harris’s understanding of the innovation economy, influenced by their shared Bay Area roots.
In response to the news, Larsen posted on X, “It’s time for the Democrats to have a new approach to tech innovation, including crypto.”
Per CNBC, Larsen explained that Harris’s background and connections in the tech industry align with his vision of promoting U.S. leadership in technological innovation.
In August, Larsen also made a $1 million donation in XRP (XRP) tokens to her campaign.
Larsen, worth $3.1 billion, has become a notable figure in political fundraising, making significant contributions across the political spectrum in recent years. His support for Harris is based on her policies regarding economic innovation, which Larsen believes are key to maintaining U.S. leadership in emerging technologies.
Crypto and the 2024 U.S. presidential election
Larsen’s contributions are part of a broader trend of crypto industry involvement in the 2024 election.
The sector has donated nearly $190 million, with over $130 million already spent in congressional races. While most crypto donations have favored Republicans, Larsen’s support for pro-Harris PACs stands out as a significant show of support from the crypto community for the Democratic candidate.
Brad Garlinghouse, CEO of Ripple, posted on X saying the following:
“I respect Chris’ (and everyone’s!) right to support whomever they think is best to lead the U.S. We need to immediately change course from this administration’s misguided war on crypto. Ripple will continue to engage with both Democrats and Republicans in the final days of the campaigns (and after the election) to promote pro-crypto policies. It’s not about party lines; it’s about championing policies that drive blockchain and crypto innovation.”
Recently, Mark Cuban, a Democrat, praised Kamala Harris for her engagement with the crypto industry during her 2024 campaign, contrasting it with the Biden administration’s regulatory approach.
Cuban noted that Harris had been actively meeting with industry leaders and listening to their concerns. He suggested her willingness to engage could sway crypto supporters who had previously backed Donald Trump.
Source: https://crypto.news/ripples-larsen-donated-11-8m-to-harris-for-new-approach-to-crypto/