Chris Larsen Labels Kamala Harris as Pro-Crypto Candidate

• Ripple’s Chris Larsen has clarified that his support for Vice President Kamala Harris is based on her pro-innovation message and plans to regulate the crypto industry with a more friendly approach. 
• Larsen has also admitted to having had meetings with people who would be part of Harris’ administration. 

Ripple executive Chris Larsen is a bigger fan of Vice President Kamala Harris as far as the US presidential election is concerned. According to reports, Larsen has donated an excess of $11 million in XRP to boost Harris as the Democrat faces off against former US president Donald Trump.

Larsen’s Recent Statement on Harris

In a recent interview with CNBC, Larsen disclosed that he is very excited about the economic message of Harris. According to him, her messages are centered on pro-innovation that ensures that the US champions and dominates the industries around the world. Larsen also mentioned that the crypto policies led by the Joe Biden administration was a failure, however, Harris’ administration would resort to a different approach.

In the short video analyzed by CNF, Larsen admitted to having had meetings with individuals who would be part of her administration. Fascinatingly, they collectively admitted to the anti-business initiatives taken by the current administration.

BREAKING: 🇺🇸 Ripple $XRP Co-Founder Chris Larsen, Explains Why Kamala Harris Is The Pro-Crypto Candidate! “I am really, really confident this is going to be a completely different approach, to the failed policy the Biden administration brought” — @chrislarsensf “Quiet… https://t.co/lkiSCcL6rP pic.twitter.com/MAI5QG1xAo— Good Morning Crypto (@AbsGMCrypto) October 29, 2024

In a recent campaign speech at Pittsburgh, Harris is noted to have emphasized the importance of maintaining blockchain and facilitating trades using cryptos. According to the report, first covered by the Washington Post and reviewed by CNF, Harris released a policy document that highlights her interest in innovative technologies like Artificial Intelligence (AI), and digital assets.

On this, a senior advisor for policy for the Harris campaign, Brain Nelson, at a Bloomberg roundtable, said that Harris is going to support any policy that favors the growth and sustainability of emerging technologies. He also pointed out that the crypto industry has consistently expressed displeasure on the “unfriendly” regulatory approach of the Biden administration.

She’s going to support policies that ensure that emerging technologies and that sort of industry can continue to grow…Obviously, they’ve expressed that one of the things that they need are stable rules, rules of the road.

Impact of Election on Crypto

According to the co-founder & CEO of Pi42, Avinash Shekhar, the upcoming election would likely have an impact on the laws governing crypto, investor sentiment, and the progress of digital assets. Similarly, the business head of CoinSwitch, Balaji Sridhar, has disclosed that the market is keenly watching candidates who offer different approaches for the crypto market to thrive.

Former President and current candidate Donald Trump’s proposition to embrace Bitcoin as a U.S. strategic asset, alongside Senator Cynthia Lummis’ endorsement, underscores the rising significance of crypto in global economic strategies. Donald Trump has positioned himself as a strong advocate for cryptocurrencies, proposing to make Bitcoin a strategic U.S. asset and aiming to transform the U.S. into the ‘crypto capital of the planet’.His aggressive pro-crypto stance has already impacted market movements, signaling a potentially significant policy shift if he wins.

At press time, the total crypto market capitalization was up by 7%, positioning the valuation at $2.43 trillion. Out of this, Bitcoin (BTC) had the dominant share with 58% control over the market, followed by Ethereum (ETH) which had a market dominance of 13%.

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