As the election between Kamala Harris and Donald Trump approaches, more details are emerging about donations from leading figures in the crypto market. People have known for a long time that these elections could have major consequences for the market. In line with this view, recent election data shows that Chris Larsen, the co-founder of Ripple, has made several substantial donations to Future Forward, a super PAC supporting Vice President Kamala Harris.
Only crypto billionaire who donates significantly
In September 2024, Ripple co-founder Chris Larsen made several large donations to Future Forward, a super PAC supporting Vice President Kamala Harris. Official records show Larsen made three separate cash donations, raising a total of $9.89 million to the PAC. Additionally, records indicate that he also donated $1 million to XRP cryptocurrency in August, along with more than $800,000 to the Harris Victory Fund, bringing his total contributions to more than $11.8 million.
This makes him one of the largest individual crypto industry donors in this election cycle.
In a CNBC interview, Larsen, who has endorsed candidates from several political parties in recent years, said his support for Harris is based on his conversations with her campaign team and how he has seen her perform since she became the leading candidate in July. , who takes over from President Joe Biden.
Larsen’s support for the Democratic candidate is longstanding. In February, he made the maximum personal donation of $6,600 to Harris, covering both the primary and general elections, five months before she was named the Democratic presidential nominee, according to Federal Election Commission records. At the same time, he also donated $100,000 to the Harris Action Fund PAC.
On the other hand, the Trump PAC has received approximately $7.5 million in cryptocurrency donations since early June.
This is the real intention behind Ripple’s support
Larsen’s donations come at an important time when crypto regulation is a major focus in the 2024 election cycle. While his contributions may seem like support for a candidate, his true intentions are not clear.
It is widely known that Harris’ team is working with crypto experts to better understand the field. This has led to speculation that Kamala Harris may have met with Chris Larsen to discuss her cryptocurrency policy plans.
Despite receiving significant financial support from Larsen, Vice President Harris continues to struggle to gain public support. According to Polymarket, an online prediction market, only 38.2% of users currently favor Harris to win the 2024 election. This suggests that even significant contributions do not lead to favorable bets.