Ripple co-founder Chris Larsen has made a significant political contribution, donating $1 million in XRP to support Vice President Kamala Harris' 2024 presidential campaign through the Future Forward PAC.

Chris Larsen's Crypto Contribution

According to Federal Election Commission filings, the donation consisted of 1,754,815.29 XRP, marking the first reported crypto donation to Harris' campaign. The Future Forward PAC, which utilizes Coinbase Commerce to convert crypto donations to stablecoins, has raised over $200 million from prominent donors, including former NYC Mayor Michael Bloomberg and venture capitalist Reid Hoffman.

Reaction to Harris Support

With cryptocurrencies becoming a prominent topic in the 2024 U.S. elections, 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. However, Larsen's donation has sparked considerable social controversy and backlash from crypto enthusiasts, who feel the Biden-Harris administration and their appointed Chief of the SEC Gary Gensler have unfairly targeted the crypto industry and Ripple Labs in particular.

Role of Crypto in US Politics

This donation underscores the growing role of crypto in U.S. political campaigns and highlights Larsen's public endorsement of Harris as a pro-innovation candidate. Meanwhile, Ripple continues its legal battle with the U.S. Securities and Exchange Commission (SEC), with both sides appealing a previous ruling from August.

Thus, cryptocurrencies are playing an increasingly significant role in U.S. politics, drawing attention from both candidates and voters. Chris Larsen's contribution is a notable step forward in this process.