Ripple’s co-founder donated $1 million in XRP to Kamala Harris’ campaign PAC
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Larson's donation marks the first crypto contribution to the Harris campaign. The Forward PAC has surpassed $200 million, supported by crypto platforms such as Coinbase Commerce.
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Ripple co-founder Chris Larson has donated $1 million in XRP tokens to the Future Forward PAC, a political action committee supporting the presidential campaign of Vice President Kamala Harris.
According to Federal Election Commission documents, the donation made on August 14 was given in the form of 1.7M XRP tokens.
As reported by Fox Business, this contribution marks the first crypto donation to the Harris campaign. Future Forward PAC, which accepts crypto donations through Coinbase Commerce, automatically converts contributions into the stablecoin USDC to reduce volatility.
The PAC has raised more than $200 million in total, with significant contributions from notable figures such as former New York City Mayor Michael Bloomberg, venture capitalist Reid Hoffman, and crypto exchange Coinbase.
Larson's public endorsement of Harris comes at a critical time for Ripple, which continues its legal battle with the SEC. The conflict started in In 2020, both sides appealed the latest ruling from the final ruling in August.
Ripple's ongoing litigation with the SEC, coupled with the growing influence of crypto in the political discourse, increases the importance of Larson's endorsement of Harris.
As the 2024 presidential election approaches, crypto has become a major issue for Democratic candidate Kamala Harris and Republican candidate Donald Trump.
As part of her economic plan, Harris has recently indicated that the administration will support new technologies such as artificial intelligence and digital assets.
Meanwhile, Trump has vowed to end what he described as an “illegal and un-American attack” on the US crypto industry, presenting himself as a pro-crypto candidate.
In the year As November 5 approaches, both candidates are expected to further address crypto's impact on the economy, regulation and consumer protection.
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