- Chris Larsen contributed $9.9 million to the PAC Future Forward and $800,000 to the Harris Victory Fund
- Larsen ranks among the top donors from the crypto sector in the 2024 election race
- Brad Garlinghouse expressed that Ripple will maintain discussions with both Democratic and Republican parties throughout and after the campaign
Chris Larsen, co-founder and executive chair of Ripple, has contributed $10 million worth of XRP to support Vice President Kamala Harris’ election campaign.
In a message posted on X, Larsen – who previously contributed $1 million in XRP to the pro-Harris Future Forward PAC in August – stated that he is donating an additional $10 million in support of the Harris campaign.
In his message, Larsen remarked: “It’s time for the Democrats to adopt a fresh perspective on tech innovation, including crypto.”
It’s time for the Democrats to adopt a fresh perspective on tech innovation, including crypto. I believe @KamalaHarris will ensure that American technology excels globally, which is why I’m donating $10M in XRP to support her. https://t.co/vb9KJA87JK
— Chris Larsen (@chrislarsensf) October 21, 2024
According to a report from CNBC, Larsen has given $9.9 million to Future Forward and $800,000 to the Harris Victory Fund. His contributions position him as one of the major donors from the crypto industry in the 2024 electoral process.
Commenting on Larsen’s announcement, Ripple CEO Brad Garlinghouse stated on X that he “respects Chris’ (and everyone’s) choice to support whomever they believe is fitting to lead the US,” adding:
“Ripple will continue to collaborate with both Democrats and Republicans in the closing days of the campaigns (and after the election) to advocate for pro-crypto policies. It transcends party division; it’s about advancing policies that foster blockchain and crypto innovation.”
Surge in crypto-related contributions
The crypto sector has contributed roughly $190 million in political donations thus far during the 2024 US election cycle. This marks a substantial increase compared to the 2020 election, which saw donations totaling $15 million. Of the $190 million, over $130 million has been allocated to congressional races.
The crypto super PAC, Fairshake, stands as the largest in this election, having raised over $202 million, according to Open Secrets, a research organization monitoring financial flows in US politics.
Former President Donald Trump has similarly garnered a significant amount in crypto donations. In June, the Winklevoss twins donated $2 million in Bitcoin to the ex-president’s campaign, while in the same month, Jesse Powell, co-founder of crypto exchange Kraken, contributed $1 million in Ethereum to Trump’s campaign.
