In a significant political move, Chris Larsen, co-founder of Ripple, has contributed $1 million in XRP to Kamala Harris’s presidential campaign. This donation comes as part of Larsen’s ongoing support for the current Vice President, bringing his total contributions to over $1.9 million during her bid for the presidency.
The timing of this donation is noteworthy, as Larsen’s company, Ripple, is embroiled in a protracted legal dispute with the U.S. Securities and Exchange Commission (SEC). Both parties have recently filed appeals following a final judgment issued in August, extending a legal saga that began in 2020.
Larsen’s endorsement of Harris was publicly announced in September through a joint letter that also included signatures from 88 other industry executives. This endorsement aligns with the growing political discourse surrounding cryptocurrencies as the 2024 election approaches.
As both Kamala Harris and Donald Trump vie for the presidency, the cryptocurrency sector has emerged as a focal point in their campaigns. Harris recently indicated a shift in her stance towards digital currencies, stating in a policy document that she would “encourage innovative technologies,” including cryptocurrencies. This marks a contrast to Trump’s consistently pro-crypto rhetoric.
Larsen has been a prominent figure in the cryptocurrency arena since founding Ripple (initially OpenCoin) in 2012. Although he stepped down as CEO in 2016, he continues to play an influential role as executive chairman of the company.
