Ripple co-founder and executive chairman Chris Larsen has made a notable contribution to Kamala Harris’ 2024 presidential campaign by donating 1.75 million XRP, valued at $1 million at the time of the donation. The Federal Election Commission (FEC) records show the contribution was made on Aug. 14, 2024, to Future Forward, a political action committee (PAC) supporting Harris and her running mate, Minnesota Governor Tim Walz.
First Crypto Donation to Harris Campaign
According to Fox Business reporter Eleanor Terrett, this marks the first publicly documented cryptocurrency donation to the Harris-Walz campaign. A spokesperson for Future Forward confirmed in September that the PAC is accepting crypto donations on behalf of Harris, following misinformation that the campaign itself was accepting direct crypto contributions.
As of October 2024, Future Forward has raised more than $200 million in donations. Larsen’s contribution aligns him with 87 other corporate executives who pledged their support for Harris in a September letter, praising her ability to promote business growth in the United States. The letter emphasized Harris’ commitment to fostering business investment and innovation across the country.
Crypto Industry Rallies Behind Harris
In an effort to sway the Harris campaign’s stance on digital assets, several crypto industry groups and executives committed to raising $100,000 for the campaign. This move came in response to what many saw as a hostile regulatory environment for cryptocurrencies under the current administration.
In late September, after significant pressure from crypto advocates, the Harris campaign issued its first official statement on digital assets. The campaign highlighted its intention to invest in emerging technologies like artificial intelligence and digital assets, while ensuring consumer and investor protection. However, the statement largely mirrored the Biden administration’s previous remarks from May 2024 and did not signal any substantial shift in policy.
Crypto’s Growing Influence in U.S. Elections
Larsen’s donation, combined with the broader support from the crypto industry, underscores the increasing influence of digital assets in U.S. politics. As Harris courts the tech and crypto communities, her stance on these issues may become a focal point in the 2024 election, especially as cryptocurrency continues to gain traction in the global financial landscape.
