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Ripple Co-founder's $1M Crypto Donation to Kamala Harris' Campaign

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2 hours ago

Ripple co-founder Chris Larsen has made a significant $1 million donation in XRP to support Kamala Harris' 2024 presidential campaign.

The Donation and Its Significance

Chris Larsen donated 1,754,815.29 XRP to Kamala Harris' campaign through the Future Forward PAC, marking the first known crypto donation to her campaign. The PAC uses Coinbase Commerce to convert crypto donations to stablecoins and has raised over $200 million from notable donors, including Michael Bloomberg and Reid Hoffman.

Role of Cryptocurrencies in 2024 Elections

With cryptocurrencies becoming a prominent topic in the 2024 elections, Kamala Harris has pledged to support innovative technologies like AI and digital assets, while Republican rival Donald Trump promises to protect the crypto industry from regulatory crackdowns. Meanwhile, Ripple continues its legal battle with the U.S. Securities and Exchange Commission (SEC), with both sides appealing a previous ruling from August.

Public Reaction

The donation has sparked major 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 donation in XRP highlights the growing role of cryptocurrencies in U.S. political campaigns and his endorsement of Kamala Harris as a pro-innovation candidate.

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