Ripple co-founder Chris Larsen donated $10 million in XRP to Kamala Harris‘ election campaign, following a previous $1.75 million contribution to a PAC supporting her.
Ripple Co-Founder Donates to Kamala Harris
Chris Larsen, co-founder of Ripple, has shown his support for Kamala Harris by giving her campaign $10 million worth of XRP.
Records from the Federal Election Commission show that Larsen had already given $1.75 million to Future Forward, a political action group (PAC) that supports Harris.
Larsen wrote on X that Democrats need to take a new stand on tech innovation and the crypto space. He said Harris “will ensure that American technology dominates the world.”
Larsen officially backed Harris last month, on top of 88 other leaders who did the same.
ding president-elect Harris and Snap chairman Michael Lynton wrote in a joint letter, “The best way to support the continued strength, security, and reliability of our democracy and economy is to elect Harris as president.”
The letter said that if Harris were president, she would “continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment.”
The crypto industry has still given the most money to politics through the Super PAC Fairshake. Donors like Coinbase, Ripple, and Andreessen Horowitz have given $169 million. Donations come from both parties, so the group doesn’t take a side in the presidential race.
The money Larsen gives to Harris goes through the super PAC, which can spend as much as it wants on political ads as long as it doesn’t work with the candidate’s campaign.
However, Ripple and its CEO, Brad Garlinghouse, have shown that they support both parties. For example, Garlinghouse gave $50,000 to a super PAC that supports Republicans in the Senate, and Ripple fought against Senator Elizabeth Warren’s re-election because she was against crypto.
The rock duo The Black Keys will play a free show this week in Akron, Ohio, where they are from as part of Stand With Crypto’s America Loves Crypto event series.
Stand With Crypto is a pro-crypto political group that Coinbase started. They hold events in swing states before the US presidential elections. Artists like The Chainsmokers and Big Sean have played at shows in Pennsylvania, Wisconsin, and Michigan in the past.
These events are part of a bigger plan by Coinbase and other companies that deal with cryptocurrencies to change the outcome of the 2024 election.
