đ A million-dollar boost for Harris' campaign
- Total amount: Larsen has donated $10 million in XRP and $1.75 million in cash to the super PAC Future Forward, which is supporting Harris in her presidential run.
- Technological innovation: Larsen believes Harris will be key to ensuring the US continues to lead in technological innovation, especially in the crypto space.
đ„ Trend in the crypto industry
- Shift in donations: The cryptocurrency sector has increased its political involvement, with companies such as Coinbase and Ripple Labs pumping millions into the 2024 elections.
- Split donations: While Larsen supports Harris, other industry giants, such as the Winklevosses and Kraken's Jesse Powell, back Donald Trump.
đ The role of super PACs in elections
- Super PAC power: Following the 2010 U.S. Supreme Court decision, super PACs can receive unlimited donations to influence elections without coordinating directly with candidates.
- Ripple's influence: Although Ripple CEO Brad Garlinghouse has previously supported Republican causes, Larsen's donation reflects a strong backing of Democrats.
This generous contribution not only marks a milestone in Kamala Harrisâ presidential race, but also highlights the growing political power of the crypto sector in the US elections. As 2024 approaches, it is clear that cryptocurrencies will play a crucial role in the future of US technology policies.
