As a seasoned analyst with over two decades of experience in the tech and finance industries, I have witnessed the rapid evolution of digital assets and their potential to reshape the global economic landscape. In this context, Chris Larsen’s $10 million donation to Future Forward USA, a Super PAC supporting Democratic Vice President Kamala Harris for the 2024 United States presidential election, is a bold and strategic move that underscores the growing influence of digital assets in politics.
As a researcher, I’m reporting on a recent financial contribution made by Chris Larsen, a co-founder and executive chair of Ripple, a payments firm. He has generously donated $10 million to a political action committee (PAC) that is actively supporting Democratic Vice President Kamala Harris in her bid for the 2024 U.S. presidency. This substantial contribution underscores Mr. Larsen’s backing and confidence in Vice President Harris’s campaign.
In a post dated October 21st on X, Larsen acknowledged that he donated $10 million worth of XRP to Future Forward USA, a political action committee backing the Democratic presidential nominee. This recent contribution was made after Larsen had previously given $1 million to Future Forward in August, making it one of the early substantial cryptocurrency contributions to Vice President Harris’ campaign.
In Larsen’s words on X, he advocated for a fresh perspective from the Democrats regarding technological innovation, including cryptocurrencies. He expressed confidence that Kamala Harris would maintain America’s leadership in technology, which is why he decided to contribute $10 million worth of XRP in support of her campaign.
As reported by Open Secrets, Future Forward has amassed over $200 million to aid Harris in her opposition against Donald Trump. Meanwhile, the Republican candidate, who once referred to Bitcoin as a “scam”, has expressed his intention to back crypto miners, prevent the issuance of a central bank digital currency, and dismiss Securities and Exchange Commission Chair Gary Gensler if reelected.
In reaction to Larsen’s donation, Brad Garlinghouse, CEO of Ripple, stated that they will persist in collaborating with both Democrats and Republicans who advocate for pro-cryptocurrency legislation in Congress. Yet, some responses on social media appear to question the Ripple co-founder’s endorsement of Vice President Harris, implying that digital assets could be viewed as a matter of political affiliation.
Crypto money in politics
In the 2024 election period, groups and individuals who are enthusiastic about cryptocurrency have donated a massive sum, estimated in hundreds of millions of dollars, to candidates vying for positions in the U.S. House of Representatives, Senate, and Presidency. Notably, Larsen has contributed to a Political Action Committee backing Republican Senator candidate John Deaton, an act that occurred prior to US President Joe Biden’s decision to withdraw from the 2024 race and endorse Harris instead.
In simpler terms, organizations like Fairshake, Protect Progress, and Defend American Jobs – which are funded by cryptocurrency – have backed both Democratic and Republican candidates for the primaries and the general election on November 5th, through media advertisements. At the time of this article’s publication, many polls indicated that the presidential race was extremely close between Vice President Harris and former President Trump.
Prior to Election Day, CryptoMoon will be featuring selected candidates running for positions within the U.S. House of Representatives and Senate in its ‘Get Acquainted with a Cryptocurrency-Friendly Politician’ series.
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2024-10-21 22:39