Ripple's Co-Founder Donation Baffles Crypto Community

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4 hours ago

Ripple co-founder Chris Larsen's $10 million donation to Democratic presidential candidate Kamala Harris has sparked a mixed reaction within the crypto community.

Support for the Democrats

The upcoming US presidential elections promise to be tightly contested. According to national polls, Kamala Harris holds a slight edge with 48.2% of the votes compared to Donald Trump's 46.4%. However, Polymarket shows Harris as the underdog. Chris Larsen expressed his intent to support the Democratic Party, anticipating a new approach to tech innovation, including crypto. 'It's time for the Democrats to rethink their approach to innovation,' he tweeted.

It's time for the Democrats to have a new approach to tech innovation, including crypto. I believe Kamala Harris will ensure that American technology dominates the world.Chris Larsen

The Community’s Reaction

Many social media users criticized Larsen's decision as inappropriate, noting that a potential Trump victory could ease tension between Ripple and the SEC, led by Gary Gensler. Users pointed to Trump's promise to replace Gensler, which could be beneficial for the company.

Ripple’s Standpoint

Ripple CEO Brad Garlinghouse respects Larsen's choice and assured that the company will continue to engage with both parties 'to promote pro-crypto policies'. He emphasized the importance of supporting innovation-driven policies beyond party lines.

It’s not about party lines; it’s about championing policies that drive blockchain and crypto innovation.

While Larsen's donation has sparked significant discussion, Ripple will continue its efforts on both sides of the political aisle to foster a pro-crypto and blockchain environment.

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