As the 2024 election between Kamala Harris and Donald Trump draws near, the spotlight is on donations from key players in the cryptocurrency market. The potential impact of this election on the market has been a topic of discussion for many. Recent data reveals that Chris Larsen, the co-founder of Ripple, has made significant contributions to Future Forward, a super PAC supporting Vice President Kamala Harris.
Only Crypto Billionaire Who’s Donating Significantly
In September 2024, Chris Larsen, co-founder of Ripple, made substantial donations to Future Forward, totaling $9.89 million in cash. Additionally, he donated $1 million in XRP cryptocurrency in August, and over $800,000 to the Harris Victory Fund, bringing his total contributions to over $11.8 million. This makes Larsen one of the largest individual donors from the crypto industry in this election cycle.
In an interview with CNBC, Larsen explained that his support for Harris is based on conversations with her campaign team and his observations of her performance since becoming the main candidate. Larsen’s backing of the Democratic nominee has been evident since February when he made a personal donation of $6,600 to Harris, months before she was named the Democratic presidential nominee. He also contributed $100,000 to the Harris Action Fund PAC.
On the other hand, the Trump PAC has received around $7.5 million in cryptocurrency donations since early June.
Here’s the Real Intention Behind Ripple’s Support
Larsen’s donations coincide with a crucial time when cryptocurrency regulation is a focal point in the 2024 election cycle. While his contributions may appear to show support for a candidate, his true motives remain unclear. There is speculation that Harris’s team has engaged with crypto experts, hinting at potential discussions between Kamala Harris and Chris Larsen regarding cryptocurrency policy.
Despite Larsen’s significant financial support, Vice President Harris continues to face challenges in gaining public favor. According to Polymarket, only 38.2% of users currently predict Harris to win the 2024 election, despite the substantial contributions made on her behalf. This suggests that financial backing does not always translate to favorable betting odds.
