Headline: Ripple Co-Founder Throws Significant Support Behind Kamala Harris
Ripple co-founder Chris Larsen has garnered attention within the cryptocurrency community with a significant donation to Kamala Harris’s presidential campaign. Larsen announced plans to donate $10 million in XRP to support Harris’s campaign. As a prominent figure in the cryptocurrency sector, Larsen has previously contributed substantial amounts to the political action committee Future Forward, which supports Harris. In August and September, Larsen donated $10 million in cash and $1 million worth of XRP. This move has sparked discussion in the XRP community, with many questioning why Larsen, considering Ripple's typically Republican leanings, chose to support Democratic candidate Harris.
Ripple's role in the political arena is significant this election cycle, putting the company at the forefront of cryptocurrency lobbying in the U.S. While Ripple’s contributions have generally favored Republican candidates, Larsen's support for Democrat Harris is seen as a notable deviation. Ripple's Chief Legal Officer Stuart Alderoty contributed over $300,000 to the Trump campaign, and the company has channeled millions to Republican candidate John Deaton in the Massachusetts Senate race, clearly reflecting Ripple's political stance.
Ripple CEO Brad Garlinghouse defends Larsen’s decision, asserting that cryptocurrency policies should transcend partisan divisions. Garlinghouse emphasized the need for the administration to halt what he calls a "misguided war" on cryptocurrencies and assured continued positive engagement with both parties.
Cryptocurrency policies are gaining importance in the 2024 presidential election. A survey by The Digital Chamber reveals that the stance on cryptocurrency is a critical factor for many American voters in presidential elections. Moreover, Consensys reports that half of U.S. voters believe a pro-crypto position is significant.
Kamala Harris promises to advance cryptocurrency policies, aiming to protect crypto assets. Her "Opportunity Economy" platform seeks not only economic development but also the establishment of proper regulations to ensure investor security. However, details of Harris’s plans remain unclear, raising skepticism among some crypto advocates.
Ripple's Chief Technology Officer, David Schwartz, views Harris’s crypto promises positively, considering her statements on cryptocurrency regulations a favorable step for the industry. Nonetheless, existing distrust in the administration’s crypto policies makes some XRP enthusiasts cautious about these promises.