Ripple Co-founder Chris Larsen has made a notable cryptocurrency donation of $1 million in XRP to support U.S. Vice President Kamala Harris in her presidential campaign. This marks the first publicized and documented cryptocurrency donation to Harris, the Democratic Party’s flagbearer for the upcoming 2024 U.S. presidential election.
The donation was made to Future Forward USA, a political action committee (PAC) backing Harris’ presidential bid. Fox Business journalist Eleanor Terret revealed the transaction, sharing details on her X (formerly Twitter) account, including the official transaction documents.
Terret tweeted:
“SCOOP: @Ripple co-founder @chrislarsensf has made the first documented #crypto donation to @KamalaHarris. According to new FEC filings, Larsen donated $1 million in $XRP to one of the leading super PACs supporting Harris — Future Forward USA.”
According to CNBC, Larsen, who had already expressed his support for Harris earlier in September, has donated over $1.9 million to her campaign. This latest contribution adds significant attention to the role of cryptocurrency in U.S. politics, especially with the November 4 election fast approaching.
Ripple and the SEC Battle
Larsen’s donation comes amidst Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), led by Gary Gensler. The dispute, which began in 2020, revolves around whether XRP should be classified as a security. Ripple and the SEC have filed appeals following an earlier court ruling in August 2023.
Kamala Harris’ Crypto Stance
While Harris has been relatively silent on cryptocurrency compared to her Republican rival, Donald Trump, her campaign has started to take steps to engage the crypto community. Her team recently launched the Crypto4Harris Initiative, aimed at building support within the industry. The initiative has held town hall meetings with prominent figures such as Mark Cuban to discuss crypto-related issues.
Donald Trump and Crypto
In contrast, Trump has openly embraced the cryptocurrency sector, earning the nickname “Crypto Candidate.” At a Bitcoin conference in Nashville, Trump stated his intention to position the United States as a global leader in crypto if elected president.
What to Know
With the U.S. presidential election scheduled for next month, polls suggest a close race between the candidates. As both Trump and Harris shape their platforms around emerging technologies, including digital assets, cryptocurrency has become a pivotal topic in the election.
