Vice President Kamala Harris’s presidential campaign set a historic milestone this fall, raising a record $1 billion in the fundraising quarter ending September 30.
According to a report in The New York Times, her campaign and allied committees generated $378 million in September alone, significantly outperforming former President Donald J. Trump’s $160 million in the same month. Ripple co-founder Chris Larsen has also contributed $10 million in XRP, further bolstering Harris’s fundraising success.
Ripple Co-Founder Donates $10 Million
Larsen declared on Monday that he had donated an additional $10 million to Harris’s campaign, demonstrating his support for her policies regarding tech innovation, especially those about cryptocurrencies.
According to an FEC filing earlier in August, Larsen had previously contributed $1 million, or 1.75 million XRP, to a political action committee (PAC) affiliated with Harris. His increasing belief that Harris can influence American technology policy is evident in this most recent donation.
Larsen’s support is noteworthy, particularly given that the crypto industry is still a divisive topic in American politics. Larsen underlined in his comments that the Democrats must take a fresh stance on technology and cryptocurrencies.
He was optimistic that Kamala Harris would make sure that the United States stays at the forefront of innovation worldwide, particularly in the blockchain and cryptocurrency industries.
While some in the tech world are applauding Larsen’s financial support, others in the crypto community remain sceptical. Critics argue that these political contributions divert attention from more pressing issues affecting the average citizen.
Nevertheless, Larsen’s financial backing underscores the influence of the tech and crypto industries in the upcoming election.
Brad Garlinghouse’s Take on the Donation
Brad Garlinghouse, the CEO of Ripple, weighed in during conversations on Chris Larsen’s contributions, praising Larsen’s choice while restating that Ripple is not affiliated with any political party.
Garlinghouse stressed that crypto legislation should continue to be a bipartisan topic in a statement posted on X (Twitter). As he thinks blockchain technology can completely transform financial systems around the world, he urged both parties to adopt it.
Garlinghouse also criticized the current administration for what he views as a “misguided war on crypto.” He stressed the importance of clear, balanced regulations that would allow the cryptocurrency industry to thrive without fear of legal repercussions.
Ripple has been actively working to secure favourable regulatory frameworks, a necessity in an environment where legal battles have become increasingly common.
Crypto’s Role in the Presidential Race
As the US gets closer to its election next month, both parties are increasingly focused on the regulation of cryptocurrencies. As the more crypto-friendly contender, former President Donald Trump has received more contributions from the sector than Harris. To appeal to a wider section of the IT world, Trump’s program contains measures meant to lessen regulatory scrutiny on digital assets.
Harris’s campaign, on the other hand, has just lately started talking about how it would oversee the crypto ecosystem in the United States. The recent increase in the vice president’s campaign contributions, which was aided by individuals such as Larsen, indicates that tech executives have faith in her ability to spur innovation.