Ripple Co-Founder Donates $10M in XRP to Kamala Harris Campaign

Ripple co-founder Chris Larsen has strengthened his support for Kamala Harris by donating $10 million worth of XRP to her election campaign.

Larsen had already contributed $1.75 million to the political action committee (PAC) Future Forward, which backs Harris, according to Federal Election Commission records.

In a post on X, Larsen emphasized the need for Democrats to adopt a fresh stance on tech innovation and the crypto space, stating that Harris "will ensure that American technology dominates the world."

Larsen formally backed Harris last month after joining 88 other executives including 21st Century Fox CEO James Murdoch and Snap chairman Michael Lynton in a joint letter, which said, “The best way to support the continued strength, security, and reliability of our democracy and economy” is by electing Harris as president.

Harris would “continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment” if she were president, the letter said.

Super PAC Fairshake remains the biggest political donator from the crypto sector, with donors including Coinbase, Ripple, and Andreessen Horowitz contributing $169 million. The group maintains a neutral stance in the presidential race by dividing donations between both parties.

Larsen's donations to Harris flow through the super PAC, which allows unlimited spending on political advertising on the condition that there is no coordination with the candidate's campaign.

However, Ripple and its CEO Brad Garlinghouse have shown bipartisan inclinations, with Garlinghouse contributing $50,000 to a Republican Senate-focused super PAC while Ripple opposed Senator Elizabeth Warren's re-election due to her anti-crypto stance.

Meanwhile, rock duo The Black Keys are set to perform a free concert in their home town of Akron, Ohio, this week as part of Stand With Crypto's America Loves Crypto concert series.

Created by Coinbase, Stand With Crypto is a pro-crypto political organization that holds concerts in swing states ahead of the US presidential elections. Previous gigs in Pennsylvania, Wisconsin, and Michigan have featured artists such as The Chainsmokers and Big Sean.

These events are part of a larger push by Coinbase and other crypto-centric companies to sway the 2024 election.