Ripple Co-Founder Chris Larsen backs Kamala Harris with a significant XRP contribution, impacting the 2024 election landscape.
Major Ripple Donation to Kamala Harris’ Campaign
Ripple co-founder Chris Larsen has made headlines by pledging $10 million in XRP to support Kamala Harris. This donation goes to Future Forward USA, a political action committee (PAC) backing the Democratic Vice President’s 2024 presidential campaign. The contribution marks a significant moment in the growing intersection of cryptocurrency and politics.
Previous Contributions and Political Impact
Larsen’s donation follows an earlier commitment of $1 million to Future Forward in August. This makes him one of the early notable supporters of Harris’ candidacy in the crypto space. As per Open Secrets, Future Forward has raised over $200 million to bolster Harris’ campaign against her Republican challenger, Donald Trump.
Ripple’s Stance on Political Engagement
Ripple’s CEO Brad Garlinghouse expressed that the company will engage with lawmakers from both parties. They aim to support pro-crypto policies in Congress. Despite this, Larsen’s support for Harris has drawn mixed reactions. Critics on social media framed the support of digital assets as a partisan issue.
Cryptocurrency’s Role in the 2024 Election
As the 2024 election approaches, cryptocurrency interests have poured hundreds of millions into political campaigns. These contributions support candidates vying for positions in the US House, Senate, and the presidency. Larsen has also previously donated to a PAC backing Republican Senate candidate John Deaton.
Crypto and Bipartisan Political Support
Various crypto-backed PACs like Fairshake and its affiliates have endorsed candidates from both parties. Their support includes significant media buys for primaries and the general election on November 5. Polls indicate a tight race between Vice President Harris and former President Trump as election day nears.
The Growing Intersection of Politics and Cryptocurrency
The 2024 election season has highlighted the increasing interest of crypto groups in political matters. As more funds flow into the political arena, candidates must address the needs of crypto supporters. Larsen’s contributions underscore the role of cryptocurrency in shaping political landscapes and policies.
Anticipating Future Campaigns
As election day approaches, Cointelegraph will profile politicians running for the US House and Senate in its series “Better Know a Crypto Candidate.” These profiles will explore how candidates plan to approach cryptocurrency regulations and policies, as the crypto community becomes a significant player in political funding.
Looking Ahead
With significant contributions from influential figures like Larsen, the intersection of cryptocurrency and politics is likely to grow. The upcoming election may redefine how tech innovation and digital assets interact with legislative priorities.
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