Ripple co-founder Chris Larsen has made a significant contribution to Vice President Kamala Harris’ election campaign, donating over $11 million in cryptocurrency. The donation, made in XRP, was sent to the Democratic super PAC, Future Forward. This move highlights the growing influence of digital currency in political fundraising, as federal records confirm the use of millions in crypto to support Harris’ efforts.
Chris Larsen’s Massive XRP Donation to Kamala Harris’ Campaign
Ripple co-founder and Executive Chairman Chris Larsen announced that he contributed an additional $10 million in XRP to support Vice President Kamala Harris in her campaign against former President Donald Trump in the upcoming election.
According to reports, Chris Larsen has emerged as the leading figure in the cryptocurrency world supporting Vice President Kamala Harris. In a post on X (formerly Twitter) on Monday, Larsen shared that he is contributing $10 million in XRP to the political action committee (PAC) Future Forward. He emphasized the need for the Democratic party to embrace a fresh approach to technological innovation, including cryptocurrency, and expressed his belief that Harris would “ensure American technology leads globally.”
According to Federal Election Commission filings, Larsen had already donated $1,750,000 to the PAC previously and has also contributed substantial amounts to various Democratic congressional campaigns.
While Larsen’s contributions are noteworthy, they are smaller in comparison to the broader involvement of the crypto industry in the 2024 election. The super PAC Fairshake, largely funded by Coinbase, Ripple Labs, and Andreessen Horowitz (a16z), has donated $169 million, positioning it as a major source of campaign funds. Fairshake has aimed to allocate its support evenly between the two major political parties, steering clear of endorsing a specific presidential candidate, even as other industry leaders have openly backed their favorites.
Chris Larsen’s $10M XRP Donation: A Push for Crypto-Friendly Policies in U.S. Politics
Chris Larsen’s substantial donation of $10 million in XRP to support Vice President Kamala Harris signals the increasing intersection between the cryptocurrency sector and mainstream political campaigns.
By backing a prominent Democratic candidate, Larsen is not only advocating for Harris but also pushing for a pro-crypto agenda within the party. His belief that Harris will lead the U.S. toward technological dominance, including cryptocurrency, suggests that Larsen sees the Democratic party as more favorable to the growth and regulation of the crypto industry. The impact on Ripple’s future could be profound if Harris, or the Democrats more broadly, gain power in the upcoming election.
A Democratic administration with leaders supportive of tech innovation could push for clearer regulations around cryptocurrency, potentially benefiting Ripple by providing a more favorable environment for its growth.
Regulatory clarity would likely reduce legal uncertainty, making it easier for Ripple to expand its XRP-based services and strengthen its position in the global financial system. Furthermore, if Harris and her administration prioritize blockchain technology, Ripple could find itself in a strategic position to influence policy and drive the adoption of digital currencies in the U.S. financial system.
Source: https://cryptoticker.io/en/ripple-cofounder-larsen-donates-xrp-to-kamala-harris-campaign/