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

Details of the Donation

According to the Federal Election Commission, Larsen's donation consisted of 1,754,815.29 XRP, transferred through the Future Forward PAC. The organization uses Coinbase Commerce to convert crypto donations into stablecoins and has raised over $200 million from prominent donors, including former NYC Mayor Michael Bloomberg and venture capitalist Reid Hoffman.

Cryptocurrencies in the 2024 Elections

Cryptocurrencies are becoming a key topic in the 2024 U.S. elections. Kamala Harris has pledged to support innovative technologies such as AI and digital assets, while her rival Donald Trump promises to protect the crypto industry from harsh regulations. Meanwhile, Larsen's Ripple continues its legal battle with the SEC, appealing a recent court ruling.

Public Reaction

The donation has sparked substantial social controversy and has been met with backlash from crypto enthusiasts. They feel that the Biden-Harris administration and SEC Chairman Gary Gensler have unfairly targeted the crypto industry, particularly Ripple Labs.

This donation underscores the growing role of cryptocurrencies in U.S. political campaigns and highlights Chris Larsen's support for a pro-innovation candidate.