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.