Ripple co-founder donates $1m in XRP to Kamala Harris

Ripple co-founder Chris Larsen has made his first recorded cryptocurrency donation to Vice President Kamala Harris.

The donation, amounting to $1 million in XRP xrp -0.07%, was given to Future Forward USA, a political action committee supporting Harris in her presidential bid, according to Eleanor Terrett.

Larsen’s contribution follows his public endorsement of Harris in September. According to reports from CNBC, Larsen has now donated over $1.9 million to Harris’s campaign as she runs for president in the 2024 election.

This donation comes as Ripple continues its legal battle with the U.S. Securities and Exchange Commission.

The case began in 2020 and centers on classifying XRP as a security. Both Ripple and the SEC have filed appeals following the lawsuit that concluded in August.

Kamala Harris and crypto

Both political parties have been trying to appeal to the crypto community and its financial contributions during this election season. The support from crypto owners highlights the growing influence of digital assets in American politics.

Harris has been relatively silent about crypto, but her recent statements about encouraging technologies like AI and digital assets have stirred interest among crypto supporters.

Harris’s campaign team launched the Crypto4Harris initiative in early August to engage with the crypto community and counter Republican efforts to attract crypto voters. The campaign aims to develop a pro-crypto policy framework to mend Harris’s relationship with the crypto industry.