Ripple Chairman Makes Waves by Donating $1M in XRP to Kamala Harris Campaign

Chris Larsen, the Chairman of Ripple, has made a significant move by donating $1 million in XRP to support Kamala Harris in her presidential campaign.

This donation marks a milestone as it’s Harris’s first cryptocurrency contribution and highlights Ripple’s endorsement amid ongoing legal challenges with the SEC.

Larsen’s contribution went to Future Forward USA, a super PAC advocating for Harris’s candidacy in the upcoming election. He also joined 88 other business leaders in endorsing Harris, which includes notable executives from major companies.

This support is particularly noteworthy given the ambiguous regulatory environment surrounding cryptocurrencies. By backing Harris, Ripple distinguishes itself from other firms that tend to favor candidates with a more positive stance toward crypto regulations.

Additionally, Gene Sperling, a former Ripple board member, has joined Harris’s campaign, enhancing the link between the cryptocurrency company and the candidate. Sperling’s experience in economic policy may signal a focus on financial technology and digital asset regulation if Harris wins.

The backdrop of this support is Ripple’s ongoing legal battle with the SEC, which accuses the firm of selling unregistered securities via XRP. Despite a recent court ruling stating that XRP is not a security, the lawsuit remains unresolved.