bsc.news
Ripple co-founder Chris Larsen has made a significant political contribution, donating $1 million in XRP to support Vice President Kamala Harris' 2024 presidential campaign through the Future Forward PAC. According to Federal Election Commission filings, the donation consisted of 1,754,815.29 XRP and marks the first reported crypto donation to Harris' campaign. Future Forward PAC, which utilizes Coinbase Commerce to convert crypto donations to stablecoins, has raised over $200 million from prominent donors, including former NYC Mayor Michael Bloomberg and venture capitalist Reid Hoffman.
With cryptocurrencies becoming a prominent topic in the 2024 U.S. elections, Harris has pledged to support innovative technologies like AI and digital assets, while Republican rival Donald Trump promises to protect the crypto industry from regulatory crackdowns. Meanwhile, Larsen's Ripple continues its legal battle with the U.S. Securities and Exchange Commission (SEC), with both sides appealing a previous ruling from August. This donation underscores the growing role of crypto in U.S. political campaigns and highlights Larsen's public endorsement of Harris as a pro-innovation candidate.
There is major social controversy around this donation however, and has been met with backlash from crypto enthusiasts who feel the Biden-Harris administration and their appointed Chief of the SEC Gary Gensler, have unfairly targeted the crypto industry and Ripple labs in particular.