Ripple Co-Founder Donates $1M in XRP to Kamala Harris’s Presidential Campaign

Ripple co-founder Chris Larsen has made a significant cryptocurrency donation to support Vice President Kamala Harris’s 2024 presidential campaign. The contribution, totaling $1 million in XRP, was directed to Future Forward USA, a political action committee (PAC) backing Harris, as confirmed by financial journalist Eleanor Terrett. This marks Larsen’s first recorded crypto donation, reinforcing his endorsement of Harris, which he initially announced in September.

According to reports from CNBC, this latest donation brings Larsen’s total financial support for Harris’s campaign to over $1.9 million as she vies for the presidency in the upcoming election. Larsen’s involvement in the campaign comes at a time when Ripple Labs is embroiled in a high-profile legal battle with the U.S. Securities and Exchange Commission (SEC). The lawsuit, initiated in 2020, centers on whether XRP should be classified as a security. Both Ripple and the SEC have filed appeals following a ruling in August, keeping the legal proceedings active.

The Political Significance of Crypto in 2024

Larsen’s donation highlights the increasing political influence of cryptocurrency and blockchain stakeholders, a trend seen across both major U.S. political parties. With digital assets gaining prominence in the financial sector, the 2024 election cycle is seeing an unprecedented level of interest from crypto investors and advocates.

Although Kamala Harris has not made extensive public statements about cryptocurrency, her campaign has recently sought to engage with the crypto community. In early August, her team launched the “Crypto4Harris” initiative, aimed at fostering dialogue with digital asset owners and developing a policy framework that supports the growing sector. This move is widely seen as a counter to Republican efforts to court the crypto vote, positioning Harris as a potential ally of the industry as regulatory conversations intensify.

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