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

Ripple co-founder Chris Larsen has made headlines with his $1 million donation in XRP to Vice President Kamala Harris’s campaign through Future Forward USA, a political action committee. This marks his first recorded cryptocurrency donation and follows his public endorsement of Harris last September. In total, Larsen has contributed over $1.9 million to her presidential bid for 2024.

This donation comes amid Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission regarding the classification of XRP as a security, a case that has been ongoing since 2020. Both Ripple and the SEC are currently appealing a decision from August.

As the 2024 election season heats up, both major political parties are vying for support from the crypto community. Although Harris has not been particularly vocal about cryptocurrency, her recent comments on supporting innovative technologies have caught the attention of crypto enthusiasts. Her campaign’s launch of the Crypto4Harris initiative aims to engage with the crypto sector and develop a more favorable policy framework, particularly in light of Republican efforts to attract crypto voters.