Ripple Co-Founder Chris Larsen Donates $11.8 Million in XRP to Support Kamala Harris’ Crypto-Friendly Campaign
Chris Larsen, co-founder of Ripple, has emerged as a major donor in the 2024 U.S. Presidential race by contributing approximately $11.8 million in XRP to Kamala Harris’ campaign. This makes him a leading crypto donor, reflecting a shift in seeking more supportive crypto policies against the backdrop of previous criticisms toward the Biden administration’s regulatory approach. Larsen sees Harris as a pro-innovation candidate who could foster U.S. leadership in the crypto industry, contrasting with the stringent actions of figures like Senator Warren and SEC Chairman Gensler. This substantial support highlights a broader crypto industry sentiment towards favorable regulations and bipartisan support, essential for the sector’s growth. As the election heats up, the political engagement of crypto stakeholders increases, underscoring their influence in shaping future regulatory landscapes.
Bullish
The significant donation by Chris Larsen to Harris’ campaign represents a bullish signal for the cryptocurrency market. The expectation is that a potential Harris administration could implement more crypto-friendly policies, supported by Larsen’s views on innovation and leadership in the crypto sector. This news is likely to be positively received by the market, as stakeholders anticipate a regulatory environment conducive to growth and innovation. The immediate impact could be limited, but the long-term implications suggest a favorable shift in crypto policy under a pro-innovation leadership, hence a bullish outlook.