Ripple’s Larsen Donates $1 Million to Kamala Harris
In a pioneering move within both the political and cryptocurrency sectors, Chris Larsen, Chairman of Ripple, has made significant headlines by contributing 1,754,815.29 XRP, valued at approximately $1 million, to Kamala Harris’s presidential campaign. This historic donation is particularly notable as it marks the first instance where Harris has received a financial backing in the form of cryptocurrency. To date, Larsen has generously contributed over $1.9 million to bolster Harris in her bid for the presidency in the upcoming 2024 election.
According to the latest Federal Election Commission (FEC) disclosures, Larsen’s substantial $1 million donation was directed to Future Forward USA, a key super PAC supporting Harris. As per Open Secrets, Future Forward PAC currently manages a fund exceeding $200 million. This contribution underscores Ripple’s dedicated support for Harris, distinguishing the company from others that typically support candidates with a pro-crypto stance. However, it is essential to highlight that Harris has not yet articulated her position on cryptocurrencies.
Ripple’s donation occurs amidst a tumultuous period for the company, given its ongoing legal confrontation with the U.S. Securities and Exchange Commission (SEC). The SEC has alleged that Ripple conducted sales of XRP as an unregistered security, a legal dispute that has persisted since 2020. Although a recent court ruling declared that XRP does not classify as a security, the case remains active, with both Ripple and the SEC appealing the judgment.
Support from Business Leaders
Chris Larsen’s support for Kamala Harris is reflective of a broader trend in which business leaders increasingly engage in the political arena. In a notable instance, 88 business executives, including prominent figures such as Box CEO Aaron Levie and former 21st Century Fox CEO James Murdoch, endorsed Harris for president by signing a letter in September. This development showcases a growing awareness of how political outcomes can influence the future landscape of cryptocurrency regulations.
Election Predictions: Who’s Leading
As the 2024 presidential election draws nearer, predictions from platforms like Polymarket indicate a tightly contested race. Presently, Donald Trump holds a 55.1% probability of victory, whereas Kamala Harris is at 44.4%. The results of this pivotal election could have far-reaching implications for the trajectory of cryptocurrency regulation within the United States.
