Ripple Co-Founder Explains $11 Million In XRP Donations To Kamala Harris’ Campaign

As the US presidential elections near, Ripple co-founder Chris Larsen revealed the reason for supporting the US Vice President and Democratic nominee Kamala Harris. Larsen became the largest single donor of the crypto industry this election cycle after his two XRP donations to Harris’ campaign earlier this month.

Kamala Harris To Have A ‘Completely Different Approach’

Chris Larsen, co-founder and executive chairman of Ripple, recently joined CNBC to discuss his endorsement and crypto donations to the campaign of the Democratic candidate Kamala Harris.

During the interview, Larsen asserted that his support for VP Harris was based on the belief that her administration would approach the crypto industry differently than the Biden administration.

Ripple’s co-founder suggested that Biden’s administration wasn’t against the industry. Instead, they “didn’t pay attention” and gave the reigns of the sector’s regulatory approach to figures like Senator Warren and Securities and Exchange Commission (SEC) Chairman Gary Gensler.

Larsen noted that Senator Elizabeth Warren led a “misguided war on crypto,” which resulted in London and Singapore taking the industry’s leadership “when it should have been in the US.”

Moreover, the heavily criticized regulation-by-enforcement approach failed to protect US-based investors, allowing “sketchy foreign operators like FTX to rip off American consumers.”

Ripple’s executive chairman shared his excitement for Harris’ economic message, noting that the US VP has met with several figures from different industries, including the crypto sector. To Larsen, the Democratic nominee’s message is “pro-innovation,” seeking to ensure that “American champions dominate their industries” worldwide.

He also suggested that the Harris administration’s DNA is “from the world capital of innovation,” which gives him the confidence that it will be a completely different approach than the failed Biden administration brought.

Ripple Co-Founder’s Continued Support Of Harris’ Campaign

It’s worth noting that while many crypto experts and figures have championed Donald Trump’s pro-industry stance, Larsen joined Mark Cuban and publicly advocated for the US Vice President. As reported by Bitcoinist, the Ripple co-founder, alongside another eighty-seven corporate leaders, endorsed Kamala Harris in early September after signing a letter disclosing their support.

This month, he continued to support Harris’ campaign after donating around $11.8 million in XRP to the candidate’s Super Political Action Committee (PAC), Future Forward USA, and becoming the largest single crypto donor this campaign cycle.

On October 11, Ripple’s executive chairman sent $1 million worth of XRP to Future Forward, marking the first documented crypto donation to the Super PAC. This was followed by a $10 million donation on October 21, with Larsen stating his belief that “Kamala Harris will ensure that American technology dominates the world.”

Since then, Larsen has vouched for the Democratic nominee, claiming that “it’s time for the Democrats to have a new approach including crypto.” During the CNBC interview, he stated that the crypto war is over as American investors will see bipartisan support from whoever wins the November election.

I think the good news now is that we see this sort of bipartisan support from whoever wins the white house. Whether it is Republicans or Democrats, I think the war in crypto is over, and we want to encourage pro-digital asset political leaders.

This seems to be a growing sentiment within the industry, with figures like Pro-XRP Lawyer John Deaton challenging Senator Warren’s seat in the Senate. Meanwhile, investors have remarked that the sector is “non-partisan” and that users should force both sides “to come to heel” as crypto will triumph regardless of the party.