In a bold move that showcases the increasing intersection between politics and the cryptocurrency sector, Ripple co-founder Chris Larsen has donated over $11.8 million to political action committees supporting Vice President Kamala Harris’s 2024 presidential campaign. This marks one of the largest contributions from the crypto industry in the current election cycle.
Larsen’s donations include $9.9 million to Future Forward PAC and an additional $800,000 to the Harris Victory Fund. His support for Harris reflects his belief in her understanding of the innovation economy and her potential to promote U.S. leadership in emerging technologies like blockchain and cryptocurrency.
Larsen Calls for a New Approach to Crypto:
In a post on X (formerly Twitter), Larsen highlighted the importance of Democrats adopting a new approach to technological innovation, specifically mentioning the crypto sector. He noted that both he and Harris share similar Bay Area roots, and her deep ties to the tech industry make her a strong advocate for U.S. leadership in this space.
This sentiment was echoed by Brad Garlinghouse, CEO of Ripple, who expressed respect for Larsen’s political contributions and called for bipartisan efforts to champion pro-crypto policies. Garlinghouse emphasized that Ripple would continue to engage with both Democratic and Republican leaders in the final days of the 2024 election campaign.
Larsen, whose net worth is estimated at $3.1 billion, has long been involved in political fundraising across the political spectrum. His substantial support for Harris signals his commitment to advancing economic and technological innovation in the U.S., particularly in the fast-growing cryptocurrency industry.
Crypto’s Role in the 2024 U.S. Presidential Election:
Larsen’s contributions are part of a broader trend of the crypto industry becoming deeply involved in U.S. politics. Nearly $190 million has already been donated by the sector, with over $130 million spent in congressional races alone. While many of these donations have favored Republican candidates, Larsen’s significant support for Harris sets him apart, highlighting the crypto community’s diverse political interests.
The 2024 presidential election is shaping up to be a critical moment for the crypto industry, which is seeking regulatory clarity and policies that will foster innovation. Harris’s willingness to engage with crypto leaders, such as meeting with industry figures and listening to their concerns, has earned her praise from prominent voices like Mark Cuban. Cuban has pointed out that her approach contrasts with the Biden administration’s stricter regulatory stance.
As the election approaches, crypto investors and advocates will closely monitor Harris’s campaign to see if her platform includes specific policies aimed at supporting blockchain and cryptocurrency innovation.
Conclusion:
Chris Larsen’s generous donations to support Kamala Harris’s presidential campaign underscore the importance of pro-innovation policies in the 2024 election. With growing interest from the cryptocurrency sector in political engagement, Harris’s approach could play a pivotal role in shaping the future of blockchain and cryptocurrency regulation in the U.S.
