According to FEC data, Chris Larsen, the chairman and founder of Ripple, contributed over $9 million to Future Forward last month and $800,000 to the Harris Victory Fund. The founder contributed an additional $1 million worth of XRP to a PAC supporting Kamala Harris’ campaign.
Data by FEC indicates that Ripple’s chairman and founder donated significantly to Kamala Harris’ presidential campaign. The founder has reportedly contributed over $11.8 million to the vice president’s campaign weeks before the general elections.
Chris Larsen contributes significant amounts to Kamala’s campaign
Chris Larsen, Ripple’s co-founder, stated that his support for the vice president began after what he saw from her after she took over the Democrat ticket in July. The founder revealed that he had conversations with some insiders from Kamala’s campaign, further fueling his comfort level with the presidential candidate.
According to Forbes, the founder has a net worth of over $3 billion, mostly from his involvement in and ownership of XRP and Ripple. Chris Larsen is part of an industry that previously expressed more interest in the Republicans.
A recent report from Public Citizen, a nonprofit watchdog, revealed that approximately 50% of the corporate funds donated to the election have come from the cryptocurrency industry.
In a recent interview, he stated that the presidential candidate knew people who grew up in the innovation sector and that she was more likely to pay attention to the industry than the previous Democratic candidate, Joe Biden. He added that she is more likely to understand the need to empower employees and American champions in sectors.
Recent election data revealed that the crypto industry was a major contributor to Kamala Harris’ campaign during the September house races.
Larsen also contributed $6,600 to Kamala in February for the primaries and the general election and an additional $100,00 to the Harris Action Fund PAC.
Harris warms up to the crypto industry, unlike her predecessors
Kamala Harris, the democratic party presidential candidate, reportedly took a different approach to cryptocurrency, unlike President Joe Biden. Reports indicate the vice president aims to build relationships with pro-crypto democrats and crypto investors.
Her team comprises of crypto-familiar individuals, such as Louisa Terrell and Brian Nelson. The two have reportedly met with democrats such as Wiley Nickel, who stated that Harris positioned herself as more receptive to crypto, unlike Biden.
In a recent Wall Street donor event, she expressed her intention to include digital assets in her platform. She commented,
“We will encourage innovative technologies like AI and digital assets while protecting consumers and investors,”
Crypto supporters have expressed optimism about the vice president’s possibility of reversing some policies by U.S. DEC Chair Gary Gensler. The Chairman brought over 40 crypto-related legal actions against digital asset companies, including Ripple.
