Ripple co-founder donates $10M in XRP to Harris’ campaign, calls for “new approach” to crypto

• Chris Larsen donated $9.9 million to PAC Future Forward and $800,000 to the Harris Victory Fund
• Larsen is one of the crypto industry’s biggest donors in the 2024 election campaign
• Brad Garlinghouse said that Ripple will continue to talk with Democrats and Republicans during and after the election campaign

Chris Larsen, co-founder and executive chair of Ripple, has donated $10 million worth of XRP to Vice President Kamala Harris’ election effort.

In a post on X , Larsen – who donated $1 million in XRP to the pro-Harris Future Forward political action committee (PAC) in August – said he’s donating a further $10 million in support of the Harris campaign .

In his message, Larsen said: “It’s time for the Democrats to have a new approach to tech innovation, including crypto.”

It's time for the Democrats to have a new approach to tech innovation, including crypto. I believe @KamalaHarris will ensure that American technology dominates the world, which is why I’m donating $10M in XRP in support of her. https://t.co/vb9KJA87JK

— Chris Larsen (@chrislarsensf) October 21, 2024

According to a report from CNBC , Larsen donated $9.9 million to Future Forward and $800,000 to the Harris Victory Fund. His donations have made him one of the crypto industry’s biggest donors in the 2024 election campaign.

In response to Larsen’s message, Brad Garlinghouse , CEO of Ripple, said on X that he “respects Chris’ (and everyone’s) right to support whomever they think is best to lead the US,” adding:

“Ripple will continue to engage with both Democrats and Republicans in the final days of the campaigns (and after the election) to promote pro-crypto policies. It’s not about party lines; it’s about championing policies that drive blockchain and crypto innovation.”

The rise in crypto donations

The crypto industry has donated around $190 million in political donations so far in the 2024 US election cycle. This is a massive rise compared to the 2020 election when $15 million was donated. Of the $190 million, over $130 million has been spent in congressional races.

Crypto super PAC Fairshake remains the largest in the election, raising over $202 million, according to Open Secrets , a research group that tracks money in US politics.

Former president Donald Trump has also received his fair share of crypto donations. In June, the Winklevoss twins sent the US candidate $2 million in Bitcoin , and in the same month, Jesse Powell, co-founder of crypto exchange Kraken, donated $1 million in Ethereum to Trump’s campaign.