Ripple Co-Founder Donates $10 Million in XRP to Support Kamala Harris

Ripple co-founder Chris Larsen has contributed $10 million in XRP tokens to a political action committee (PAC) backing Democratic presidential candidate Kamala Harris.

It’s time for the Democrats to have a new approach to tech innovation, including crypto. I believe @KamalaHarris will ensure that American technology dominates the world, which is why I’m donating $10M in XRP in support of her. https://t.co/vb9KJA87JK

— Chris Larsen (@chrislarsensf) October 21, 2024

“It’s time for Democrats to develop a new approach to technological innovation, including cryptocurrency. I believe Kamala Harris will ensure American technology dominates globally,” the entrepreneur stated.

In September, the politician began fundraising for her presidential campaign in digital assets through the cryptocurrency exchange Coinbase.

In October, it was revealed that Larsen transferred $1 million in XRP to the PAC Future Forward in support of Harris.

According to data from the Federal Election Commission, the current Vice President significantly outpaces Republican candidate Donald Trump in total funds raised — $679 million compared to $313 million.

Previously, Harris promised to “encourage” cryptocurrencies, while Trump declared himself the “crypto president” and expressed intentions to make the U.S. the “crypto capital of the world”. However, both avoided the topic of digital assets during debates.

Commenting on Larsen’s donation, Ripple CEO Brad Garlinghouse emphasized the need to end the current administration’s “misguided war on cryptocurrencies.”

I respect Chris’ (and everyone’s!) right to support whomever they think is best to lead the U.S.

We need to immediately change course from this administration’s misguided war on crypto.

Ripple will continue to engage with both Democrats and Republicans in the final days of…

— Brad Garlinghouse (@bgarlinghouse) October 21, 2024

“Ripple will continue to engage with both Democrats and Republicans in the final days of the election campaign (and after the elections) to promote crypto-friendly policies. It’s not about partisan approaches, but about supporting policies that stimulate blockchain and innovation,” the company head stated.

Back in August, Harris supporters in the crypto industry launched the Crypto4Harris campaign in her support. Participants in the initiative include billionaire Mark Cuban and SkyBridge Capital founder Anthony Scaramucci.