Ripple co-founder Chris Larsen recently made his first cryptocurrency donation to Vice President Kamala Harris, contributing $1 million in XRP to Future Forward USA. This political action committee supports Harris in her presidential bid for the 2024 election. This donation adds to Larsen’s previous endorsement of Harris in September and brings his total contributions to her campaign to over $1.9 million.
It’s worth noting that this donation comes at a time when Ripple is embroiled in a legal battle with the U.S. Securities and Exchange Commission (SEC) over the classification of XRP as a security. The case, which began in 2020, has seen appeals from both Ripple and the SEC following a lawsuit that concluded in August.
In the realm of politics, both major parties are vying for support from the crypto community and its financial contributions, underscoring the increasing influence of digital assets in American politics. While Harris has not been very vocal about cryptocurrency, her recent statements advocating for technologies like artificial intelligence (AI) and digital assets have piqued the interest of crypto enthusiasts.
In an effort to engage with the crypto community and counter Republican initiatives to attract crypto voters, Harris’s campaign team launched the Crypto4Harris initiative in early August. The goal of this initiative is to establish a pro-crypto policy framework that will help repair Harris’s relationship with the crypto industry.
The intersection of cryptocurrency and politics is becoming increasingly prominent, with figures like Chris Larsen showing significant support for candidates like Kamala Harris. As the 2024 election approaches, it will be interesting to see how candidates navigate the evolving landscape of digital assets and their role in shaping political campaigns and policies.