Chris Larsen Confirms $10M in XRP Donation to Kamala’s Campaign

Chris Larsen, the co-founder and chairman of Ripple just confirmed on X that he made another donation of $10 million in XRP to support Vice President Kamala Harris’s presidential campaign.

This is just 2 months from when he made a donation of $1 million in XRP to the same campaign which at the time marked the first major crypto donation received by Kamala.

Larsen’s support for Harris has been consistent including $6,600 to her campaign and $100,000 to the Harris Action Fund PAC earlier this year.

Combined with his recent pledge, Larsen’s total contributions to Harris now exceed $11 million, making him one of the biggest donors so far.

In a tweet on X, Larsen expressed his belief in Harris’s capability to lead American technology innovation, especially in the crypto industry.

Source: X

He said “It’s time for the Democrats to have a new approach to tech innovation, including crypto. I believe Kamala Harris will ensure that American technology dominates the world.”

In contrast, Larsen chose to back Harris instead of other candidates, particularly Donald Trump, because he thinks Harris understands technology and its economic impact better.

He feels that her background in the Bay Area gives her unique insights into the tech world, unlike what he perceives as a lack of understanding of Trump’s policies. His views were supported by Ripple CEO Brad Garlinghouse, who commented on Larsen’s tweet. 

Garlinghouse expressed respect for everyone’s choice to support their preferred candidates and the need to change the current administration’s negative stance toward crypto. 

He also mentioned that Ripple will work with both Democrats and Republicans to promote positive policies for cryptocurrency. In his comment, he said “It’s not about party lines; it’s about championing policies that drive blockchain and crypto innovation.”

The growing influence of the crypto industry in political fundraising has been notable, especially as traditional support has favored Republicans. According to reports from CNBC, nearly half of the corporate donations this election cycle have come from the crypto sector, totaling around $190 million.