Chris Larsen, co-founder of Ripple Labs, has made headlines with a $1 million XRP donation supporting US presidential candidate Kamala Harris, stirring significant discussions within the crypto community.

Ripple Labs’ Legal Battle with the SEC

Ripple's legal battle with the U.S. Securities and Exchange Commission (SEC) started in 2020 with allegations of selling unregistered securities through XRP offering. The SEC claims XRP is a security and should have been registered before sales. In 2023, a ruling was seen as a partial victory for Ripple, yet both parties appealed, extending the legal saga until 2024. The SEC has similarly sued major exchanges like Binance and Coinbase.

Crypto Industry Leaders Support Kamala Harris

Larsen's support came after he joined 88 other tech executives in signing a letter endorsing Harris. In September, crypto leaders hosted a $100,000 fundraiser for her campaign. In August, billionaire Mark Cuban suggested Harris could become a surprising ally for the crypto space, potentially shifting policies toward technological innovation.

Crypto Takes Center Stage in the US Politics

For the first time, crypto has become a focal issue in U.S. political debates. Presidential candidates Donald Trump and Kamala Harris are incorporating crypto policies into their campaigns. Trump has gained traction due to his pro-crypto stance, while Harris, positioning herself as tech-forward, has pledged support for innovative technologies, including blockchain and AI. These candidates are seen by many in the crypto community as potential allies to propel the industry and the U.S. economy forward.

Recent developments indicate cryptocurrencies continue to play a pivotal role in U.S. political arenas, with candidates like Kamala Harris and Donald Trump potentially influencing the future regulation and evolution of digital assets.