- Chris Larsen, Ripple co-founder, donates $10 million in XRP to Kamala Harris’ presidential campaign, advocating for a stronger focus on technological innovation.
- Larsen highlights the need for U.S. tech leadership, urging Democrats to embrace a forward-thinking approach to cryptocurrencies and blockchain innovation.
Chris Larsen, the co-founder of Ripple, has made a significant donation of $10 million in XRP to support Kamala Harris’ campaign for the U.S. presidency. This contribution underscores Larsen’s belief in Harris’ potential to lead the country toward technological dominance on a global scale. The donation, valued at over 18,500 XRP, reflects a broader sentiment within the tech and crypto sectors, as Larsen calls for a fresh approach to technological innovation, particularly in the realm of cryptocurrencies.
Larsen made the announcement through his official account on X (formerly Twitter), where he shared his rationale behind this substantial financial backing.
“It’s time for the Democrats to adopt a new approach to technological innovation, including cryptocurrencies,”
Chris Larsen of #Ripple makes a bold move, donating $10M in XRP to Kamala Harris's campaign, advocating for a new era in tech and crypto policy in U.S. leadership. 🌟📈 #ChrisLarsen #KamalaHarris #CryptoPolicy #TechInnovation #USPolitics #Election2024 #CryptoDonation… https://t.co/0282VlC85F pic.twitter.com/d6ReovzvHW
— Collin Brown (@CollinBrownXRP) October 22, 2024
Larsen stated. He further expressed confidence in Harris’ ability to ensure that “American technology dominates the world,” positioning her as a critical figure for the future of tech-driven policies.
The Ripple executive’s support for Harris is not entirely new. Earlier, he had publicly endorsed her along with 80 other business leaders, voicing his approval of the Democratic candidate’s platform. This donation follows a long-standing pattern of Larsen’s political involvement, particularly when it comes to advocating for blockchain and crypto-friendly policies in the United States.
Brad Garlinghouse, Ripple’s CEO, commented on Larsen’s decision, emphasizing the importance of political engagement for the future of the crypto industry.
“I respect Chris’ right to support the candidate he believes is best suited to lead the United States,”
Garlinghouse remarked. He went on to critique the current administration’s stance on cryptocurrencies, calling for a shift away from what he described as a “misguided war” against digital assets. According to Garlinghouse, Ripple is committed to collaborating with both Democrats and Republicans to promote a regulatory environment that fosters innovation in the blockchain space.
I respect Chris’ (and everyone’s!) right to support whomever they think is best to lead the U.S.
We need to immediately change course from this administration’s misguided war on crypto.
Ripple will continue to engage with both Democrats and Republicans in the final days of…
— Brad Garlinghouse (@bgarlinghouse) October 21, 2024
The relationship between politics and cryptocurrency has been a central theme in the lead-up to the U.S. elections. Both major candidates, Kamala Harris and Donald Trump, have addressed the digital asset sector in different ways. While Trump has taken a more open stance toward cryptocurrencies, Harris has approached the matter with greater caution. However, Larsen’s donation signals strong confidence in her ability to lead the country into a future where U.S. technology can thrive on the global stage, particularly through the advancement of blockchain and cryptocurrencies.
Interestingly, the donation takes place within an election context where the crypto community is divided. Prediction markets such as Polymarket show Trump as the favorite, with a 61.9% chance of winning, compared to Harris‘ 38%. Despite these odds, figures like Larsen and others in the blockchain industry remain firm in their support for Harris, framing the election as a critical juncture for the development of pro-crypto policies in the U.S.
Larsen’s backing of Kamala Harris comes at a crucial time for both the political and crypto landscapes. As regulatory clarity and innovation-friendly policies remain hotly debated, the contribution of $10 million in XRP not only highlights the influence of cryptocurrency in political campaigns but also the increasing relevance of blockchain technology in shaping the future of U.S. policy.