Chris Larsen, co-founder of Ripple, has made a significant political contribution of $1 million in XRP to support Kamala Harris' 2024 presidential campaign through the Future Forward PAC. This marks the first recorded crypto donation to Harris' campaign.

Details of the Donation

According to the Federal Election Commission filings, Larsen donated 1,754,815.29 XRP to Harris' campaign. Future Forward PAC, which utilizes Coinbase Commerce to convert cryptocurrencies to stablecoins, has raised over $200 million from prominent donors, including former NYC Mayor Michael Bloomberg and venture capitalist Reid Hoffman.

Role of Crypto in the 2024 Elections

With the 2024 elections approaching, cryptocurrencies are becoming a significant topic of discussion. Kamala Harris has pledged to support innovative technologies like AI and digital assets, while her Republican rival Donald Trump promises to protect the crypto industry from regulatory crackdowns. Meanwhile, Larsen's Ripple continues its legal battle with the SEC, with both sides appealing a previous ruling from August.

Community Reaction to the Donation

This donation underscores the growing role of cryptocurrencies in U.S. political campaigns and highlights Larsen's public endorsement of Harris as a pro-innovation candidate. However, it has sparked social controversy and backlash from crypto enthusiasts who feel the Biden-Harris administration and their appointed SEC Chief Gary Gensler have unfairly targeted the crypto industry and Ripple Labs in particular.

Chris Larsen's $1 million XRP donation to Harris' campaign not only signifies the emergence of cryptocurrencies in the political arena but also highlights the current rift in the crypto community over industry regulation.