Chris Larsen, co-founder of Ripple, has made a $1 million donation in XRP to Future Forward PAC, a political action committee supporting Vice President Kamala Harris’s presidential campaign.
According to Future Forward PAC , Larsen donated around 1.7 million XRP tokens on Aug. 14 in a “non-contribution account. This is the first crypto donation Kamala has received since she started her campaign.
The committee accepted the donation through Coinbase Commerce and automatically converted it to stablecoin to keep it stable amid market fluctuations.
Larsen’s donation is part of Ripple’s goal to support pro-crypto candidates in the ongoing election. The company has given millions to different political causes over the years.
Chris Larsen has publicly endorsed Vice President Kamala Harris at a pivotal moment for his company. Ripple is still embroiled in a legal battle with the Securities and Exchange Commission (SEC), a conflict that began in 2020. Both Ripple and the SEC are currently appealing recent rulings stemming from a final judgment issued in August.
Larsen’s support for Harris holds added weight given the rising influence of cryptocurrency in political discussions. As Ripple’s litigation with the SEC progresses, Larsen’s endorsement signals a possible alignment with political figures who could play a role in shaping the regulatory landscape for digital assets in the U.S.
Future Forward PAC itself has raised over $200 million so far from figures like former New York City Mayor Michael Bloomberg and venture capitalist Reid Hoffman.
In addition to Larsen’s donation, over 87 corporate executives have publicly endorsed Harris. They believe she will uphold the law and create a stable environment for crypto space.
The election is still scheduled for Nov. 5, and cryptocurrency has become a key topic in the race. Kamala Harris has expressed her intention to support new technologies like digital money in her economic plans.
Meanwhile, her opponent, Donald Trump, has promised to stop what he calls an “unlawful and un-American crackdown” on the U.S. crypto industry and wants to be seen as a supporter of the sector.
Both candidates are expected to address crypto regulation and consumer protection in their campaigns.
