Chris Larsen, the co-founder of Ripple, recently made headlines by contributing $1 million worth of XRP tokens to Future Forward, a super PAC supporting Vice President Kamala Harris’ presidential campaign. This move reflects Larsen’s long-standing support for Harris, as he has donated around $1.9 million to her campaign directly and through PACs.
Larsen, who has a net worth of $3.1 billion, has been a vocal advocate for a more pragmatic approach and clear rules in the crypto industry. He believes that Harris will bring a fresh perspective to the industry, particularly in contrast to Gary Gensler, who currently heads the SEC and has been viewed as hostile towards crypto companies.
The crypto industry has been increasingly involved in political fundraising, with nearly half of all corporate donations coming from this sector. While most contributions have supported Republicans, there has been a growing momentum for Democratic candidates like Harris within the crypto community.
Despite facing some criticism for his support of Harris, Larsen remains steadfast in his belief that she will be a positive force for the industry. He has also expressed confidence in Harris’ ability to create a framework for cryptocurrency that protects consumers and investors, as evidenced by her recent unveiling of the “Opportunity Agenda for Black Men.”
Overall, Larsen’s contribution to Harris’ campaign highlights the growing influence of the crypto industry in politics and the shifting dynamics within this space. As the industry continues to evolve, it will be interesting to see how different political candidates engage with and respond to the needs of this rapidly expanding sector.