In a surprising move, Chris Larsen, co-founder and chairman of Ripple, has made a monumental donation of $10 million worth of XRP to Future Forward USA, a super PAC backing Kamala Harrisâs presidential campaign.
đč Why Did Larsen Make This Donation?
Larsen explained his decision, emphasizing that Harris has the vision to ensure American technology maintains its global leadership. He stressed the importance of the Democratic Party embracing tech innovation, especially within the crypto sector. With XRP priced at $0.5432, this donation amounts to a whopping 18.4 million XRP tokens!
đ” A $10 Million Cash Contribution
Interestingly, journalist Eleanor Terrett revealed that Larsen also donated nearly $10 million in cash last month. According to her, the donation was made in three separate payments, adding to the $1 million in XRP he contributed in August.
đ„ The Crypto Community Is Shocked!
This move has surprised many in the crypto space, given the current administration's hostile stance toward the industry. Despite Ripple's ongoing legal battles with the SEC, Larsen is showing support for Harris, while other crypto leaders have thrown their backing behind Donald Trump, who has pledged to embrace crypto and position the U.S. as the worldâs crypto capital.
đŻ Ripple's CEO Weighs In
Rippleâs CEO, Brad Garlinghouse, shared his thoughts on Larsenâs donation, stating that Ripple respects the right of individuals to support whichever candidate they believe is best for the country. However, Garlinghouse stressed the need for a pro-crypto administration and promised Ripple would continue to engage both Democrats and Republicans in the final days of the campaign.
đ What's Next for Crypto Regulation?
As the 2024 presidential race heats up, the future of crypto regulation could be determined by the winner. With Ripple continuing to advocate for clearer policies, this election is critical for the crypto industry's growth in the U.S.
đŹ Whatâs your take on Larsenâs $10M donation to Kamala Harrisâs campaign? Let us know in the comments below!
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