Ripple Chairman Chris Larsen has made headlines by donating 1754815.29 XRP worth around ($1 million) to Kamala Harris’s presidential campaign. This donation is noteworthy as it is the first time Harris has received a contribution in cryptocurrency. Larsen has now given more than $1.9 million to support Harris as she runs for president in the 2024 election.
According to the Federal Election Commission (FEC) disclosures, Chris Larsen made his $1 million donation in the form of crypto (1754815.29 XRP) to Future Forward USA, a prominent super PAC that supports Harris’s campaign. Currently, Future Forward PAC holds over $200 million, as reported by Open Secrets.
Larsen’s donation reflects Ripple’s strong support for Harris, setting it apart from other companies that usually back candidates who favor pro-crypto regulations. However, it’s important to note that Harris has not yet clearly stated her views on cryptocurrencies.
This donation comes during a challenging time for Ripple, as the company continues its legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC has accused Ripple of selling XRP as an unregistered security, a claim that has been ongoing since 2020.
Although a recent court ruling stated that XRP is not a security, the legal case is still open, with both Ripple and the SEC appealing the decision.
Larsen’s support for Harris is part of a larger trend, as many business leaders are engaging more in politics. In September, a letter was signed by 88 business executives, including notable names like Box CEO Aaron Levie and former 21st Century Fox CEO James Murdoch, endorsing Harris for president.
This reflects a growing interest in how political decisions can impact the future of cryptocurrency regulations.
As the 2024 election approaches, Polymarket prediction suggests a competitive race. However, Donald Trump is seen as having a 55.1% chance of winning, while Kamala Harris has a 44.4% chance.
Meanwhile, the outcome of this election could significantly affect the direction of cryptocurrency regulation in the U.S.
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