⚡️ Ripple mogul Larsen invests tens of millions in XRP to support Harris, as the cryptocurrency campaign landscape heats up!
Ripple co-founder Larsen lavishly invests tens of millions in XRP to aid Harris's campaign
1. Larsen increases support
Ripple co-founder Chris Larsen has become the largest individual supporter of Vice President Kamala Harris in the cryptocurrency space.
According to his comments and federal records, Larsen has donated over $11 million to Harris's campaign, including a $10 million XRP donation to the Democratic Super PAC Future Forward.
This move not only demonstrates his support for Harris but also showcases his deep influence in the cryptocurrency sector.
2. Larsen's cryptocurrency strategy
In an article published on Monday, Larsen expressed optimism about the Democratic Party's potential for technological innovation, particularly regarding new technologies like cryptocurrency.
He believes Harris will be able to advance America's technological leadership on a global scale. Therefore, he chose to support Harris by increasing his holdings in XRP, hoping to gain more backing for her in the election.
3. Cryptocurrency industry's campaign activities
Although Larsen's donations are substantial, they still pale in comparison to the overall campaign activities in the cryptocurrency industry.
Led by Fairshake, the cryptocurrency sector donated $169 million in the 2024 elections, primarily from well-known companies like Coinbase, Ripple Labs, and Andreessen Horowitz.
These donations not only dominated the cryptocurrency industry's electoral activities but also made it one of the largest sources of campaign funding in the election.
4. Positions of cryptocurrency leaders
In the cryptocurrency field, many leaders have expressed their positions on the candidates they support. Unlike Larsen's support for Harris, some cryptocurrency figures back Trump.
However, some leaders, such as Ben Horowitz, have indicated they will provide donations to entities supporting different candidates.
Most of these donations flow to Super PACs, where, due to the Supreme Court's ruling in 2010, they can donate freely to these committees rather than directly to the candidates' own campaign activities.
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