Ripple's Larsen Explains $10M XRP Donation to Harris Campaign

Chris Larsen, the co-founder of Ripple, has made headlines by donating $10 million worth of XRP to Kamala Harris's presidential campaign. This significant contribution reflects his endorsement of Harris, whom he believes represents a pro-innovation approach in economic policy.

Support for Kamala Harris

In an interview, Larsen expressed his excitement about Harris's economic message, emphasizing her connections to the Bay Area tech scene. He stated that her administration would prioritize innovation and support for American industries, which he views as essential for the future of the cryptocurrency sector.

Larsen noted that Harris's background in the Bay Area, a hub for technological advancement, positions her uniquely to understand the needs of the tech industry, including cryptocurrencies. He believes that her administration would adopt a different stance compared to the previous Biden administration, particularly regarding crypto policies.

Harris's Stance on Cryptocurrency

While Harris has recently started to address cryptocurrency issues, her specific policy proposals remain unclear. Earlier in her campaign, she acknowledged the importance of creating a regulatory framework to protect vulnerable groups in the crypto market, particularly highlighting the participation of Black Americans in the sector.

Despite these statements, details regarding her proposed regulatory framework are still lacking. This vagueness has raised questions about how her administration would effectively support the crypto industry if elected.

As the presidential election approaches, Larsen's endorsement and substantial financial support for Harris signal a shift in the crypto community's political affiliations. With the election just days away, the implications of this donation and Harris's potential policies on cryptocurrency remain to be seen.