Ripple Co-founder Chris Larsen Pledges $10 Million to Kamala Harris Campaign PAC

Jimmy Aki
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Ripple co-founder Chris Larsen has contributed $10 million in XRP to a political action committee (PAC) supporting Vice President Kamala Harris in her 2024 U.S. presidential bid.

Chris Larsen’s $10 Million Contribution

Larsen stated in an X post that he donated the funds because he believes that Harris will “ensure that American technology dominates the world.”

Larsen’s donation follows an earlier contribution of $1 million to Future Forward in August, making it one of Harris’s first major crypto-related financial endorsements.

In the lead-up to the 2024 election, Vice President Harris is set to face Republican candidate Donald Trump, who has taken a critical stance on Bitcoin.

Trump has previously called Bitcoin a scam but has made a U-turn by supporting crypto, as he urged the U.S. to strive for the crypto industry’s supremacy. If re-elected, Trump has vowed to fire SEC Chair Gary Gensler, a notable figure in crypto regulation.

Larsen’s support for Harris comes amid a broader trend of crypto-backed contributions to candidates running for various offices in the U.S., including the presidency, Senate, and House of Representatives.

Super PACs such as Fairshake, Protect Progress, and Defend American Jobs have channeled funds into media campaigns for both Republican and Democratic candidates in the lead-up to the general election on November 5.

Notably, despite his support for Harris, Larsen has previously donated to Republican Senate candidate John Deaton. This bipartisan approach to donations may reflect Ripple’s broader strategy of engaging with lawmakers on both sides of the aisle.

Ripple CEO Brad Garlinghouse echoed this sentiment, stating that the company “will continue to engage with both Democrats and Republicans” in promoting pro-crypto policies in Congress.

While Larsen’s donations have garnered attention, they have also sparked criticism from some crypto enthusiasts, who view the involvement of digital assets in politics as a divisive issue.

A Look at the 2024 Election

As the 2024 presidential race intensifies, Vice President Harris and former President Trump appear at tie in many polls.

This election cycle has seen crypto interest groups become more involved in supporting candidates that align with their vision for the industry’s future.

While Kamala Harris has received significant support from Chris Larsen and other crypto advocates, Trump’s promises to challenge the status quo in financial regulation have also attracted attention from segments of the crypto community.

Amid the growing debate over cryptocurrency regulations and their impact on innovation, Larsen has been vocal about the potential of a Kamala Harris presidency to bring a “new approach to tech innovation.”

His sizable contributions underscore the importance of cryptocurrency’s role in shaping policy discussions, both in the U.S. and globally.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.