Chris Larsen, co-founder and chairman of the cryptocurrency company Ripple, has made a significant contribution to the campaign of Vice President Kamala Harris, totaling over $11.8 million. This substantial donation underscores Larsen’s belief in Harris’s approach to technological innovation, particularly in the cryptocurrency sector.
Ripple CEO Brad Garlinghouse Speaks About Larsen’s XRP Donation
According to FEC data compiled by blockchain analyst James Delmore and independently verified by CNBC, Larsen’s contribution includes a near-$9.9 million donation to the Future Forward super PAC in September, along with over $800,000 to the Harris Victory Fund. Remarkably, Larsen also pledged a $10 million donation in XRP, Ripple’s cryptocurrency, stating, “It’s time for the Democrats to have a new approach to tech innovation, including crypto. I believe Kamala Harris will ensure that American technology dominates the world, which is why I’m donating $10M in XRP in support of her.”
While Larsen’s significant contribution has drawn attention, Ripple CEO Brad Garlinghouse emphasized the company’s broader engagement with both Democrats and Republicans. “I respect Chris’ (and everyone’s!) right to support whomever they think is best to lead the U.S.,” Garlinghouse stated. “We need to immediately change course from this administration’s misguided war on crypto. Ripple will continue to engage with both Democrats and Republicans…to promote pro-crypto policies. It’s not about party lines; it’s about championing policies that drive blockchain and crypto innovation.”
Larsen’s support for Harris stems from conversations with campaign insiders and his assessment of her understanding of the tech industry, particularly her familiarity with the Bay Area’s innovation economy. “She knows people who have grown up in the innovation economy her whole life,” Larsen previously told CNBC. “So I think she gets it at a fundamental level…in a way that I think the Biden folks were just not paying attention to, or maybe just didn’t make the connection between empowering workers and making sure you have American champions dominating their industries.”
This substantial donation builds upon Larsen’s previous support for Harris, including a maximum personal contribution of $6,600 in February and a $100,000 contribution to the Harris Action Fund PAC. Larsen, 64, boasts a net worth of $3.1 billion, largely attributed to his XRP holdings and involvement with Ripple.
