Ripple Co-Founder Donates $11.8M to Support Harris Presidential Campaign
Chris Larsen boosts Harris with the largest crypto donation.
Ripple co-founder Chris Larsen has emerged as a leading figure in the cryptocurrency industry’s support for Vice President Kamala Harris’s 2024 presidential campaign, donating over $11.8 million to political action committees (PACs) backing her bid for the White House.
Larsen’s latest contribution, announced on October 21 via a post on X (formerly Twitter), includes $10 million in XRP to the Future Forward USA super PAC, which supports Harris. This adds to the $1.75 million he had already given to the Harris Victory Fund and Future Forward PAC in earlier donations.
Larsen, who Forbes estimates has a net worth of $3.1 billion, explained his reasons for backing Harris in an interview with CNBC, pointing to her Bay Area roots and understanding of the tech and innovation industries, particularly the cryptocurrency sector. “She gets it at a fundamental level,” Larsen said, highlighting her background and connections in Silicon Valley. “It’s time for Democrats to have a new approach to tech innovation, including crypto, and Harris will ensure that American technology dominates the world.”
This substantial donation further cements Larsen’s role as one of the most prominent individual crypto donors in the 2024 election cycle. His $11.8 million contribution represents a large part of the $190 million the crypto industry has donated to political campaigns this year, a number that reflects the growing influence of the digital asset space in U.S. politics.
The Future Forward PAC, which supports Harris, has raised over $200 million to date, making it one of the most well-funded super PACs in the election. The funds are being used to boost Harris's campaign efforts in swing states and key demographic areas as she competes in a closely watched race.
Larsen’s substantial financial backing for Harris is part of a broader trend of cryptocurrency industry leaders becoming key political donors. While Larsen supports the Democratic candidate, other influential crypto figures are throwing their weight behind former President Donald Trump’s campaign. Notable names include Tyler and Cameron Winklevoss of Gemini and Jesse Powell, the co-founder of Kraken, signaling the industry’s divided allegiances in the upcoming election.
Despite this divide, the cryptocurrency industry has become one of the most significant sources of funding in the 2024 election cycle. Nearly half of the corporate money flowing into various political races has come from crypto-related firms and individuals. Leading the way is the super PAC Fairshake, with over $169 million in contributions, mainly from firms like Coinbase, Ripple Labs, and venture capital giant Andreesen Horowitz.
As the 2024 election approaches, the influence of the crypto industry on both sides of the political spectrum continues to grow, with high-profile donations like Larsen’s signaling the sector’s determination to shape the future of U.S. policy on digital assets and technology.
**DALL-E Prompt:** A wide image featuring a political rally scene with Chris Larsen and Kamala Harris in the foreground, surrounded by digital currency symbols like XRP, highlighting the intersection of cryptocurrency and political campaigns.
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