In a move that underscores the growing influence of cryptocurrency leaders in US politics, Ripple co-founder Chris Larsen has made a significant financial contribution to Kamala Harris’ presidential campaign. Larsen donated nearly $10 million to support the Vice President’s bid for the White House, just weeks before the highly anticipated election between Harris and Donald Trump.
According to a report by Fox Business journalist Eleanor Terrett, Larsen made three separate donations in September to Future Forward, the Super PAC backing Harris, totaling close to $10 million. This donation adds to an earlier contribution of $1 million in XRP to the same PAC in August. Larsen has confirmed these contributions, underscoring his confidence in Harris’ vision for the future of the cryptocurrency industry.
Larsen’s support aligns with a broader trend among crypto leaders advocating for more favorable regulatory policies under Harris. Many in the industry believe that a Harris presidency would usher in a more pro-crypto regulatory environment, potentially boosting the growth and adoption of digital assets.
However, despite this substantial backing, Harris’ odds of winning the election have not seen a significant boost. Polymarket, a popular prediction market, currently shows Donald Trump with a 62.5% chance of winning, compared to Harris’ 37.5%.
The cryptocurrency community remains divided over the best candidate for the industry. While Larsen supports Harris, other prominent figures like Cardano ADA/USD founder Charles Hoskinson back Donald Trump, citing his plans to remove SEC Chairman Gary Gensler as a potential game-changer for the industry.
As discussions around crypto regulation continue to heat up, Larsen’s donation will likely be a topic of interest at the upcoming Benzinga Future of Digital Assets conference on Nov. 19. The event will bring together leading figures in the crypto space to discuss the future of the industry and the potential impact of the upcoming election on its development.