In a noteworthy development in the lead-up to the 2024 U.S. presidential elections, Chris Larsen, co-founder of Ripple, has pledged a significant $10 million in XRP to support Kamala Harris’s campaign. As the Democratic candidate positions herself against Donald Trump, this substantial contribution aims to bolster her efforts.
Larsen shared his decision on X (formerly Twitter), emphasizing the need for Democrats to adopt a fresh perspective on technological innovation, particularly in the realm of cryptocurrency. Ripple’s CEO, Brad Garlinghouse, expressed his backing for Larsen’s move, highlighting the urgent necessity for the U.S. to shift away from what he termed the “misguided war on crypto” under the current administration.
The 2024 election cycle has seen cryptocurrencies take center stage in political discourse like never before. With the asset class experiencing remarkable growth this year, calls for clearer regulations have intensified. Candidates are increasingly recognizing the importance of cryptocurrency as a pivotal issue.
Notably, Donald Trump has emerged as a strong proponent of cryptocurrency, advocating for its growth within the United States. Despite this, influential figures in the industry, like Larsen, continue to rally behind Harris and her vision for technology.
In his announcement, Larsen stated, “It’s time for the Democrats to embrace a new approach to tech innovation. I believe [Kamala Harris] will ensure that American technology leads globally, which is why I’m donating $10 million in XRP in support of her.”
Larsen’s commitment to Harris is further underscored by his previous donations exceeding $11.8 million to political action committees (PACs) that back her candidacy. This latest donation solidifies his role as a key supporter of her presidential ambitions.
