Ripple Co-Founder Chris Larsen Sends $1 Million XRP Donation To Kamala Harris
12 Ottobre 2024 - 7:00AM
NEWSBTC
As the US presidential election approaches, the crypto industry has
emerged as a focal point of political debate, with key figures from
blockchain payments company Ripple expressing divided support for
leading candidates Vice President Kamala Harris and former
President Donald Trump. This division comes amid ongoing
debates about regulatory frameworks, particularly concerning the US
Securities and Exchange Commission (SEC) and its enforcement
actions against the cryptocurrency sector. Ripple Larsen’s $1
Million XRP Donation Christian Larsen, co-founder of Ripple,
has made headlines by making the first documented crypto donation
to Kamala Harris’s campaign, contributing $1 million in XRP to a
prominent super political action committee (PAC) supporting her
candidacy. Related Reading: Over 52 Million ETH Bought At
$2,300, Will Ethereum Bulls Defend This Support? This donation was
revealed through recent filings with the Federal Election
Commission (FEC), as reported by FOX journalist Eleanor Terret.
Larsen’s contribution signifies a strategic endorsement of Harris,
who has recently been vocal about the needed support for the growth
of the digital asset ecosystem. This political move comes on the
heels of comments from Ripple CEO Brad Garlinghouse, who has
criticized the SEC’s ongoing legal battle against the
company. The SEC recently appealed a favorable ruling from
Judge Analisa Torres, which stated that XRP, when sold on public
exchanges, does not qualify as a security under existing laws. In
response, Ripple announced it would file a cross-appeal against the
SEC on Thursday, intensifying the ongoing legal conflict. Crypto
Community Divided? Garlinghouse has been outspoken about the
SEC’s actions, recently asserting, “If Gensler and the SEC cared
about the rule of law, they would accept their loss and move
on.” Ripple’s CEO argues that the regulator is more
interested in causing disruption than providing clarity for
industry players, warning that the agency’s actions could stifle US
innovation in technology. While Larsen has aligned himself with
Harris, the political contributions from the crypto community are
not one-sided. Gary Cardone, a well-known digital asset investor,
along with the Winklevoss twins, founders of the Gemini exchange,
and Kraken co-founder Jesse Powell, have publicly supported Donald
Trump. Related Reading: BNB Under Siege: Failed Recovery Sparks
Fears of Deeper Losses Trump’s campaign has positioned him as a
pro-crypto candidate, promising to elevate the United States as the
global leader in cryptocurrency. The former President and
Republican candidate has criticized regulatory overreach, stating,
“They want to choke you, and we are not going to let that happen.”
Trump has also pledged to replace SEC Chairman Gary Gensler upon
his potential return to the White House, further indicating his
commitment to fostering a favorable environment for the crypto
industry. At the time of writing, XRP was trading at $0.5379,
showing no change from Thursday’s trading session. Featured
image from DALL-E, chart from TradingView.com
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