Chris Larsen's gesture is the first cryptocurrency gift to Kamala Harris.
Larsen's support comes during Ripple's continuing constitutional struggles with the SEC.
Harris's campaign is becoming more open to discussing cryptocurrency issues.
Chris Larsen, co-founder of Ripple, has donated $ 1M in XRP to Harris's presidential campaign. This offer is notable because it is the first crypto contribution Harris has received. The funds went to Future Forward USA, a civic action group that supports her candidacy for the 2024 election. This gift shows how online payments and politics are beginning to connect, demonstrating a change in how initiatives raise money.
Ripple's Courtroom Challenges
The cash contribution comes at a difficult time for Ripple. Presently, the company and the US Securities and Exchange Commission are embroiled in a trademark dispute. Although the coin was declared not to be a security by a judge in August, Ripple and the SEC have both filed appeals. This active complaint affects the rules for digital assets and their use in the trading industry.
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Additionally, Larsen is a strong supporter of Harris. He has publicly backed her candidacy and aligns with her platform. His contributions to Harris’s campaign now total over $1.9 million. The PAC that received this donation uses Coinbase Commerce to process cryptocurrency contributions. This way, the funds convert into USDC, a stablecoin tied to the U.S. dollar. This conversion helps reduce the risks of volatility that often come with cryptocurrencies.
Harris's Engagement with Crypto
Harris's campaign has recently started the "Crypto4Harris" initiative. This initiative connects with people in the digital asset community and seeks to create a pro-crypto policy framework. This shows that Harris is open to discussing new technologies and their economic benefits.
Even though Harris has not said much about cryptocurrency in the past, her campaign is now showing more interest. They have promised to protect consumers while also encouraging technological growth. This could help her connect with voters and contributors who are interested in cryptocurrency.
Larsen's campaign contribution underscores the growing link between cryptocurrencies and political funding. As more digital assets enter the political scene, they may change how campaigns get money. How will these changes shape politics in the future?
Ripple’s involvement in politics shows a desire to influence regulatory decisions. The donation also emphasizes how cryptocurrency is becoming part of political contributions.
The post Chris Larsen Gives $1 Million in XRP to Support Kamala Harris appeared first on Crypto News Land.
