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

Donation Details

According to Federal Election Commission filings, Larsen donated 1,754,815.29 XRP through Future Forward PAC. This marks the first reported crypto donation to Harris' 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.

Cryptocurrencies in US Politics

Cryptocurrencies have become a prominent topic in the 2024 US elections. 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, Ripple continues its legal battle with the US Securities and Exchange Commission.

Public Reaction

The donation has sparked controversy and backlash among crypto enthusiasts. Many feel that the Biden-Harris administration and their appointed SEC Chair Gary Gensler have unfairly targeted the crypto industry and Ripple Labs in particular.

Chris Larsen's donation underscores the growing role of cryptocurrencies in US political campaigns and highlights his endorsement of Kamala Harris as a pro-innovation candidate.