- Chris Larsen, the co-founder and executive chairman of Ripple, has contributed $10 million in XRP to support US presidential candidate Kamala Harris.
- Larsen is confident that Harris will ensure American technology takes the lead on a global scale.
- Ripple’s CEO, Brad Garlinghouse, indicated that he respects his co-founder’s choice to back any candidate he believes in.
- Ripple intends to engage with both political parties in the US to promote policies that favor the cryptocurrency sector.
Chris Larsen, co-founder and executive chairman of Ripple, has made a substantial donation of $10 million in XRP to back Kamala Harris’ campaign for the presidency. In a social media post announcing the gift, Larsen shared his hope that Harris will help elevate American technology to the forefront globally.
Larsen Breaks Political Boundaries with Support for Harris
Larsen’s generous donation has sparked significant discussion, particularly in light of the ongoing tensions between the cryptocurrency sector and the US Securities and Exchange Commission, led by Chair Gary Gensler, a noted Democrat and crypto critic.
Within the Democratic Party, Senator Elizabeth Warren from Massachusetts stands out as a vocal opponent of cryptocurrencies, known for promoting regulations that limit their growth.
Despite this backdrop, Larsen’s commitment of $10 million to the Harris campaign underscores his belief that “It’s time for the Democrats to adopt a fresh perspective on technology innovations, including cryptocurrency.”
On the rationale behind his $10 million donation, the Ripple executive stated that he believes the Democratic candidate “will ensure that American technology stays at the forefront globally.”
According to CNBC, Larsen’s total contributions to PACs backing the Harris campaign have now reached approximately $11.8 million, marking him as one of the largest individual cryptocurrency donors. This includes his prior donations of $9.9 million to Future Forward PAC in September, $1 million in XRP, and $800,000 to the Harris Victory Fund.
Ripple Will Engage with Both Parties, Says CEO Garlinghouse in Response to Larsen’s Donation
Ripple’s CEO Brad Garlinghouse expressed that he honors his co-founder Chris’ (and everyone else’s!) right to support the candidates they believe will lead the U.S. effectively.
“We must pivot swiftly from the current administration’s misdirected opposition to cryptocurrency.
Ripple will actively engage with both Democrats and Republicans as the campaigns reach their climax (and beyond the election) to advocate for pro-crypto policies,” Garlinghouse stated.
The Ripple leader noted that it’s not merely about party affiliations but about “championing policies that foster innovation in blockchain and cryptocurrencies.”
Ripple has individually contributed over $50 million to FairShake, a non-partisan pro-crypto Super PAC, from 2023 to date. This support from the company and its officers indicates a strong dedication to the growth of the US crypto sector and candidates who promote innovation, rather than allegiance to any single political party.
According to WatcherGuru, political contributions linked to the cryptocurrency industry have amassed to around $190 million.
Of this total, crypto-related entities have reportedly allocated $130 million in congressional campaigns, including primaries, as the industry seeks to actively influence electoral outcomes and counter the SEC’s continuous regulatory actions in the American crypto landscape.
Dutch
English
French
German
Greek
Italian
Portuguese
Russian
Spanish