Ripple Co-Founder Donates $1 Million in Crypto to Support Kamala Harris’ Campaign
Chris Larsen, co-founder of Ripple, has contributed $1 million in cryptocurrency to a political action committee backing Vice President Kamala Harris.
Federal Election Commission documents indicate that this donation, made on August 14, consisted of approximately 1,754,815 XRP and was classified as a “non-contribution account; in-kind” donation, meaning the funds were not liquidated. The donation was directed to Future Forward PAC, which facilitates crypto contributions for Harris’ presidential campaign.
Future Forward PAC collaborates with Coinbase Commerce, a platform that converts various cryptocurrencies into the stablecoin USDC to mitigate volatility, as stated on its website.
Eleanor Terrett of Fox Business reported on Larsen’s contribution, noting it as the first crypto donation received by Harris.
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As of August 31, the PAC has raised over $200 million, with notable contributions from individuals like former New York City Mayor Michael Bloomberg, venture capitalist Reid Hoffman, and crypto exchange Coinbase. Initially, the PAC supported President Joe Biden’s reelection efforts, but after he withdrew from the race, it shifted its focus to Harris.
As the November 5 elections approach, the role of cryptocurrency has become a prominent topic. Recently, Harris articulated her administration’s commitment to fostering innovative technologies such as AI and digital assets while ensuring consumer and investor protection, as outlined in her comprehensive 80-page economic plan. In contrast, Republican presidential candidate Donald Trump has pledged to end what he describes as an “unlawful and un-American crackdown” on the U.S. crypto industry, presenting himself as an ally of the sector.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
