- Chris Larsen donates $10M in XRP to support VP Kamala Harris’s 2024 presidential campaign through the Future Forward PAC.
- Ripple’s Brad Garlinghouse supports bipartisan crypto policies amid Larsen’s donation, emphasizing opposition to crypto regulations.
- Republican candidate Trump has gained crypto industry support by opposing central bank digital currencies and backing crypto miners.
Ripple Co-Founder and Executive Chairman Chris Larsen confirmed on Monday his donation of $10 million in XRP to support Vice President Kamala Harris’s campaign for the U.S. presidency.
This latest contribution follows a $1 million donation made by Larsen in August, highlighting his backing of the Harris campaign as she seeks the Democratic nomination. Kamala Harris has recently started discussing policies aimed at boosting the U.S. tech and crypto sectors.
Political Action Committee Support and Record Fundraising
Larsen’s $10 million donation was directed to Future Forward, a Democratic Political Action Committee (PAC). The PAC has been significant in fundraising efforts for the Harris campaign, having raised over $200 million to date.
This influx of support comes amid a record-breaking fundraising quarter for Harris, putting her in a strong position to compete against Republican frontrunner Donald Trump. While Future Forward has continued to channel contributions toward Harris, her campaign has just begun to outline its approach to supporting the U.S. crypto industry.
Larsen’s Advocacy for Crypto Policies
Larsen expressed his motivation behind the donation in a social media post, where he emphasized the need for a “new approach” to technology innovation. Specifically, he cited Harris’s potential to ensure that the U.S. maintains its leadership in global tech, including the crypto market.
His donations position him as one of the largest individual contributors in the crypto sector backing Harris’s candidacy. Ripple CEO Brad Garlinghouse commented on the donation, highlighting the importance of bipartisan efforts in advancing pro-crypto policies and pushing back against what he called a “misguided war on crypto.”
Republican Rivalry and Crypto Industry Divide
Larsen’s donation comes at a time when the Republican candidate Donald Trump has positioned himself as a crypto-friendly candidate, drawing substantial financial support from the industry. Trump’s stance, which includes opposing central bank digital currencies and supporting crypto miners, has resonated with many in the crypto community.
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