Ripple Supports Kamala Harris With A Substantial Crypto Donation: A Turning Point For The Campaign?

The upcoming November presidential elections in the United States are taking an unexpected turn, with crypto leaving its mark. Both candidates, Donald Trump and Kamala Harris, are openly courting the crypto community. And for good reason: digital assets are becoming a major issue, both economically and politically. With Harris, support is becoming clearer, especially with a million-dollar XRP donation from Chris Larsen, co-founder of Ripple.

Ripple: an open support for Harris

In early September, Kamala Harris announced accepting Bitcoin donations via Coinbase. Strangely, on August 14, 2024, Chris Larsen, co-founder and executive chairman of Ripple, made a donation of 1,754,815.29 XRP, or a million dollars at the time, to the Future Forward political action committee, which supports Kamala Harris’s campaign. This gesture marks the first crypto contribution to the Democratic candidate’s campaign, according to the records of the Federal Election Commission (FEC).

🚨SCOOP: @Ripple co-founder @chrislarsensf has made the first documented #crypto donation to @KamalaHarris.

According to new FEC filings, Larsen donated $1 million in $XRP to one of the leading super PACs supporting Harris — Future Forward USA.@AppBreadcrumbs pic.twitter.com/XAYbUImpS5

— Eleanor Terrett (@EleanorTerrett) October 11, 2024

For Larsen and his accomplices, it’s clear that Harris represents hope for American industries, as evidenced by a letter signed by 87 business leaders, stating:

“With Kamala Harris in the White House, the business world can expect a president eager to make American industries thrive.“

• The XRP donation represents 1 million dollars at the time of the contribution;
• Future Forward has raised over 200 million dollars in contributions to date;
• Harris’s campaign had to clarify that it did not directly receive crypto.

Crypto in Search of Political Development

The efforts of Harris’s campaign to woo the crypto industry did not stop there. In September, crypto advocacy groups and industry executives raised 100,000 dollars to influence the candidate’s position on digital assets.

At that time, Harris broke her silence on crypto, stating her intention to support technological innovation in the United States, including digital assets. However, this statement did not bring about a radical change from the existing policy of the current administration, which has already shown skepticism towards cryptocurrencies.

While at Ripple, the elites, imitating the CEO who officially supported her in September, swear only by Kamala Harris, at Gemini, they prefer Trump. The choice of each camp seems already well entrenched in the race to the White House.