Ripple Cofounder Donates 10 Million Worth of XRP to Kamala Harris Campaign

CoinDesk Report:
Ripple co-founder Chris Larsen has strengthened his support for Kamala Harris by donating $10 million worth of XRP to her campaign. According to the Federal Election Commission, Larsen has donated $1.75 million to the political action committee “Future Forward” which supports Harris.
In a post on X, Larsen emphasized the need for Democrats to take a new stance in the field of technological innovation and cryptocurrency and stated that Harris “will ensure American tech dominance in the world.”
“Now is the time for Democrats to adopt new approaches to technological innovation, including cryptocurrency. I believe Kamala Harris will ensure American tech dominance in the world, which is why I donated $10 million worth of XRP to support her,” Larsen said.
Larsen officially endorsed Harris last month, joining 88 other executives including James Murdoch, CEO of 21st Century Fox, and Michael Linton, Chairman of Snap, in a joint letter stating that “electing Harris as president is the best way to support our democracy and sustain a strong, secure, and reliable economy.”
The letter stated that if Harris is elected president, she will “continue to advance fair and predictable policies that support the rule of law, stability, and a good business environment.”
Super PAC Fairshake remains the largest political donor in the cryptocurrency space, with donations totaling $169 million from contributors including Coinbase, Ripple, and Andreessen Horowitz. The organization maintains a neutral position in the presidential election by distributing donations between the two parties.
Larsen’s donation to Harris is being made through a super PAC, which allows for unlimited spending on political advertisements as long as it is not coordinated with the candidate’s campaign.
However, Ripple and its CEO Brad Garlinghouse have shown a tendency to cooperate with both parties. Garlinghouse donated $50,000 to a super PAC focused on Republican senators, while Ripple opposed Senator Elizabeth Warren’s reelection due to her anti-cryptocurrency stance.
Meanwhile, the rock duo The Black Keys will hold a free concert in their hometown of Akron, Ohio this week as part of the Stand With Crypto’s America Loves Crypto Tour.
Akron! See you on October 25th #AmericaLovesCryptoTour. 18+, limited capacity. RSVP here: [link to concert]
Stand With Crypto, created by Coinbase, is a political organization that supports cryptocurrency and holds concerts in swing states before the US presidential election. Previous performances in Pennsylvania, Wisconsin, and Michigan included artists such as The Chainsmokers and Big Sean.
These events are part of larger efforts by Coinbase and other cryptocurrency-focused companies to have an impact on the 2024 election.