Key takeaways
- Larsen’s donation marks the first crypto contribution to Harris’ campaign.
- Future Forward PAC surpasses $200 million in donations, supported by crypto platforms like Coinbase Commerce.
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Ripple co-founder Chris Larsen donated $1 million in XRP tokens to Future Forward PAC, a political action committee supporting Vice President Kamala Harris’ presidential campaign.
According to the Federal Election Commission depositsthe donation, made on August 14, was provided in the form of 1.7 million XRP tokens.
This contribution marks the first cryptocurrency donation to Harris’ campaign, as reported by Fox Business. Future Forward PAC, which accepts crypto donations through Coinbase Commerce, automatically converts contributions to stablecoin USDC to minimize volatility.
The PAC has raised more than $200 million in total, with significant contributions from figures including former New York City Mayor Michael Bloomberg, venture capitalist Reid Hoffman and crypto exchange Coinbase.
Larsen’s public endorsement of Harris comes at a crucial time for Ripple, which continues its legal battle with the SEC. The conflict began in 2020, with both sides appeal recent decisions of a final judgment rendered in August.
Ripple’s ongoing litigation with the SEC, coupled with crypto’s growing influence in political discourse, adds significance to Larsen’s support for Harris.
As the 2024 presidential election approaches, crypto has become a central issue for both Democratic candidate Kamala Harris and Republican candidate Donald Trump.
Harris recently indicated that under his economic plan, his administration would support innovative technologies like artificial intelligence and digital assets.
Meanwhile, Trump has promised to end what he describes as an “illegal and un-American crackdown” on the US crypto industry, casting himself as a pro-crypto candidate.
As November 5 approaches, both candidates are expected to further address crypto’s impact on the economy, regulation and consumer protection, with Larsen’s support for Harris likely to influence the industry’s position on the next elections.
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