As a seasoned analyst with years of experience in the tech and political sectors, I find this development intriguing. The move by Chris Larsen, Ripple co-founder, to contribute a significant amount of XRP to Kamala Harris’ 2024 Presidential campaign is a clear indication of the growing influence of cryptocurrencies in mainstream politics.
Federal Election Commission records show that Chris Larsen, co-founder and executive chairman of Ripple, donated 1,754,815.29 XRP (equivalent to $1 million at the time) to the Harris-Walz 2024 Presidential campaign.
On August 14, 2024, a contribution was recorded in Federal Election Commission filings, which was made to the pro-Harris Future Forward political action committee (PAC). Notably, as reported by Fox Business’s Eleanor Terrett, this is the first instance of a cryptocurrency donation documented for the Harris campaign.
In September, a representative from Future Forward clarified to CryptoMoon that the Political Action Committee (PAC) was receiving cryptocurrency donations on behalf of Harris, following misleading rumors suggesting that the campaign itself was taking in direct cryptocurrency donations.
As stated by the Federal Election Commission (FEC), the political group known as Future Forward had amassed more than $200 million in donations up until October 2024.
Larsen and corporate executives pledge support for Harris
87 corporate executives, including the co-founder of Ripple Labs, signed a commitment letter in September, expressing their backing for Harris. The letter stated their intentions clearly.
“With Kamala Harris in the White House, the business community can be confident that it will have a President who wants American industries to thrive.”
The signatories additionally claimed that Vice President Harris boasts a robust history of encouraging business investments within the U.S.
Harris attempts to court the crypto industry
In the same month, a group of supporters from the cryptocurrency sector, including key figures, declared their intention to donate $100,000 to the Harris campaign in an effort to impact the Vice President’s viewpoint on U.S. digital asset policy.
Industry leaders anticipated that the donations might sway Harris’s administration away from its present stance of antagonism towards cryptocurrency.
Responding to industry calls and communications, Harris eventually spoke up for the first time on the campaign’s crypto policy matters. In late September, the Harris campaign released its initial statement regarding cryptocurrency policy.
“We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
Nevertheless, the statement didn’t mark a shift from the ongoing government policy. Certain sections of the response closely resembled statements made by the Biden administration back in May 2024. These passages were essentially repeated word for word from an earlier statement, which was issued before the administration vetoed the bipartisan SAB-121 repeal towards the end of that month.
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2024-10-13 19:28