Chris Larsen, co-founder and chairman of Ripple, has backed Vice President Kamala Harris with a $1.9 million contribution to her campaign.

Support from Chris Larsen

Larsen, known for his influence in the crypto industry, chose to support Harris, believing her approach will be more crypto-friendly. The sum, totaling about $1.9 million, has been funneled directly and through various political action committees.

Regulatory Context

Harris's support among some crypto players is partly due to dissatisfaction with SEC Chairman Gary Gensler's current actions, known for his tough measures against crypto companies, including Ripple. Gensler is a popular figure for criticism among crypto professionals, contributing to the support for candidates willing to critically reassess regulatory approaches.

Crypto Community Reaction

While Larsen supports Harris, other industry figures, like Donald Trump, propose alternative initiatives aimed at supporting crypto communities through their own ventures.

The divide in the crypto community over candidate support underscores the importance of a strong and clear regulatory course for the industry. As elections approach, the crypto community is eager for a stable regulatory environment that supports the industry's growth and integration into mainstream finance.