Ripple’s Chris Larsen 1.75 Million XRP to Kamala Harish, what is the reason
Ripple Chairman Chris Larson made headlines by donating XRP worth 1754815.29 ($1 million) to Kamala Harris' presidential campaign. This donation is noteworthy because it is the first time that Harris has received a contribution in cryptocurrency. Larson has given more than $1.9 million to support Harris as she runs for president in 2024.
Ripple' Larsen donates 1 million dollars to Kamala
According to Federal Election Commission (FEC) filings, Chris Larson made a $1 million donation in crypto (1754815.29 XRP) to a popular super PAC supporting the Harris campaign. Currently, the Future Forward PAC holds more than $200 million, according to Open Secrets.
Larson's donation reflects Ripple's strong support for Harris, which sets it apart from other companies that support candidates who usually support pro-crypto regulations. However, it's important to note that Harris has yet to address her views on cryptocurrencies.
The donation comes at a challenging time for Ripple as the company continues its legal battle with the US Securities and Exchange Commission (SEC). The SEC has accused Ripple of selling XRP as an unregistered security since 2020.
Although the recent court decision stated that XRP is not a security, the legal issue is still open, both Ripple and the SEC have appealed the decision.
Support of business leaders
Larson's endorsement of Harris is part of a larger trend as more business leaders become more involved in politics. In September, a letter was signed by 88 business executives, including Box CEO Aaron Levy and former 21st Century Fox CEO James Murdoch supporting Harris for president.
This reflects a growing interest in how political decisions will influence future cryptocurrency regulations.
Election Predictions: Who's Leading.
As the 2024 election approaches, Polymarket forecasts suggest a competitive race. However, Donald Trump has a 55.1% chance of winning, while Kamala Harris has a 44.4% chance.
Meanwhile, the outcome of this election can significantly affect the direction of cryptocurrency regulation in the US
