Chris Larsen Donates $10M in XRP to Support Kamala Harris PAC

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Chris Larsen, co-founder and executive chairman of Ripple, has contributed $10 million in XRP to a Political Action Committee (PAC) backing Democratic presidential contender Kamala Harris.

“It’s time for the Democratic Party to embrace a new strategy regarding technological innovation, including cryptocurrency,” Larsen stated in an Oct. 21 post on X. He added that Harris “will ensure American technology remains dominant globally.”

Kamala Harris received $1 million from Ripple's Chris Larsen, crypto industry engagement grows

Larsen has emerged as the most prominent crypto advocate for Harris, who is perceived as less crypto-friendly compared to Trump. Data from the Federal Election Commission indicates that the Ripple executive had previously donated $1.75 million to the PAC and has also contributed hundreds of thousands of dollars to Democratic congressional campaigns.

Brad Garlinghouse Endorses Chris Larsen’s Support for Harris

Ripple CEO Brad Garlinghouse expressed his support for Larsen’s endorsement by commenting on the post, emphasizing that he respects his colleague’s choice to back the candidate he believes is “best suited to lead the U.S.”

He further stated that Ripple Labs “will continue to collaborate with both Democratic and Republican parties in the approaching days of the campaigns” and after the election “to advance pro-crypto policies.”

I respect Chris’ (and everyone’s!) right to support whoever they believe is best to lead the U.S.

We need to shift direction immediately from this administration’s flawed approach to crypto.

Ripple will actively engage with both Democrats and Republicans in the final days of…

— Brad Garlinghouse (@bgarlinghouse) October 21, 2024

“We must change course immediately from this administration’s misguided war on cryptocurrency,” Garlinghouse stated. He wrapped up his remarks by highlighting that party affiliations are less critical than establishing clear regulatory frameworks to “stimulate blockchain and crypto advancements.”

Chris Larsen’s Donations Dwarfed by Other PAC Contributions

Even with the significant funds that Larsen has contributed to the Harris campaign, his donations are outshined by the millions of dollars funneled into competing PACs.

At the forefront is the super PAC Fairshake, which has successfully garnered over $169 million through contributions from key players in the crypto sector, including Coinbase, Ripple Labs, and Andreessen Horowitz. This PAC aims to allocate funds to both candidates.

Additionally, numerous pro-Trump figures in the crypto realm have also made their own contributions. Notable supporters of Trump include the Winklevoss twins, Kraken co-founder Jesse Powell, Marc Andreessen, and Ben Horowitz.

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