Cardano founder criticizes Ripple co-founder Chris Larsen’s political donations

Cardano founder Charles Hoskinson has publicly criticized Ripple co-founder Chris Larsen for his significant donations to Democratic presidential candidate Kamala Harris.  This donation has caused much controversy within the crypto world, as the total sum was $11.8 million.

Hoskinson, while replying to a post by Robert F. Kennedy Jr., said that the Biden-Harris administration is further dividing the nation and is authorising lethal force against Americans as per DoD Directive 5240.01.

Robert F. Kennedy Jr. criticized Harris for her words about the previous US President, Donald Trump and pointed out that her words were contradictory since the current administration supports the directive in question. This directive permits the Pentagon to employ deadly force against US citizens who are opposing the government policies within the United States.  Hoskinson echoed Kennedy’s concerns, calling the directive an infringement of the Posse Comitatus Act of 1878, a law designed to prohibit the use of military forces in civil matters.

The Cardano founder pointed out that such government actions are worrisome as they undermine the freedoms that citizens have. He also criticized Chris Larsen’s political contributions saying that such contribution only creates another level of complexity in the already complex crypto space, which is supposed which prides itself on being decentralized and politically neutral.

In response to the debate on Larsen’s donation, Ripple’s CEO Brad Garlinghouse has recently expressed his respect for Chris Larsen for endorsing the candidate he thinks is best for the country. He noted that Ripple will remain active and participate in lobbying for both parties, pre and post-election.

“It’s not about party affiliation; it’s about promoting policies that advance blockchain and cryptocurrency innovation,” Garlinghouse stated.

Crypto community questions use of funds and political strategy

Despite Garlinghouse’s defence, Chris Larsen’s significant contribution to Kamala Harris’s campaign has attracted a backlash from the wider cryptocurrency industry. According to popular crypto analyst XRPRightNow, the funds would have been more productive if they were used within the XRP ecosystem. 

In a recent video analysis , the analyst pointed out that the $10 million could have been used for projects related to the XRP Ledger, which would have been more advantageous to the network. 

Severa l X users who commented on Larsen’s post saw the donation as improper. They noted that Trump’s victory could help reduce the conflict between Ripple and the SEC because Trump has vowed to fire SEC Chairman Gary Gensler.

Gensler and the SEC have been in a legal tussle with Ripple for almost four years now. In particular, the regulator challenged the decision made by Judge Analisa Torres in 2023, which may prolong the lawsuit for several more years. While the debate still rages on, the price of XRP has declined by 5% in the past week, coinciding with Larsen’s contribution.