Ripple Co-Founder Chris Larsen Reveals Reason Behind Backing Kamala Harris

In a recent interview, Ripple Co-founder Chris Larsen spoke on why he is backing Kamala Harris, despite the recent criticism. Notably, the blockchain firm is continuing its battle with the US SEC, while many have slammed the current government for its anti-crypto stance. However, despite that, Larsen keeps his support for the Democrats, while also donating a massive amount in XRP to a super PAC backing Kamala Harris.

Why Ripple Co-Founder Chris Larsen Stands By Kamala Harris?

In a recent CNBC interview, Ripple Co-founder Chris Larsen clarified reasons for backing the US VP Kamala Harris in the upcoming Presidential election. He said that his support comes from his belief in her understanding of the innovation economy and her experience in California’s tech hub.

In addition, Larsen said Harris “gets it at a fundamental level” in ways that the Biden administration has not. According to him, the US VP recognizes the importance of empowering American businesses to lead in the global market, particularly in tech sectors like blockchain.

Meanwhile, the co-founder’s confidence in the US VP was reflected in his latest contributions to her campaign. For instance, Larsen has recently donated $1 million in XRP to Future Forward, a PAC supporting Harris. In addition, he has also made many contributions to other Democratic candidates over the years.

This comes as Kamala Harris revealed her backing for the crypto regulation framework recently. This development has also gained notable attention, while many have slammed the US VP, calling it just an election strategy.

Speculations Amid XRP Lawsuit Appeal

Ripple Co-founder’s backing for Kamala Harris has attracted severe criticism from the market, especially amid the US SEC’s harsh stance on the crypto market. In addition, many in the crypto community also believe that Donald Trump’s presidency would have clear crypto regulations. Notably, Donald Trump has also said that he would fire US SEC Chair Gary Gensler if he is elected as the President.

On the other hand, the US SEC has filed an appeal in the Ripple SEC case recently, which has sparked widespread discussions in the market. The agency has also faced criticism for its appeal and for extending the already long-running legal battle.

Meanwhile, Ripple has also filed a cross-appeal in the XRP lawsuit, challenging the US SEC’s stance. CEO Brad Garlinghouse also remained confident in the battle, saying that the cross-appeal would bring an end to SEC’s overreach in the crypto sector under Gary Gensler’s leadership.

Despite that, Chris Larsen’s backing for Kamala Harris has sparked discussions in the crypto market. However, his faith in her ability to promote innovation and provide clear regulatory guidelines may explain his continued investment in her campaign.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
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