Ripple co-founder Chris Larsen donated $1 million in XRP to Future Forward PAC, a political action committee supporting Vice President Kamala Harris’ presidential campaign.
According to Future Forward PAC, Larsen donated that $1 million on Aug. 14 in a “non-contribution account.” This is the first cryptocurrency donation Kamala has received since starting her campaign.
The committee accepted donations through Coinbase Commerce and automatically converted them into stablecoins to maintain stability during market fluctuations.
Larsen’s donation is part of Ripple’s goal to support pro-crypto candidates in the ongoing elections. The company has donated millions of dollars to various political causes over the years.
Future Forward PAC itself has raised more than $200 million so far from former New York City Mayor Michael Bloomberg and venture capitalist Reid Hoffman.
In addition to Larsen’s donation, more than 87 corporate executives have publicly endorsed Harris. They believe that she will abide by the law and create a stable environment in the cryptocurrency space.
The election is still scheduled for November 5th, and cryptocurrencies are a key theme in the campaign. Kamala Harris has announced her intention to support new technologies such as digital money in her economic plan.
Meanwhile, her opponent, Donald Trump, has vowed to end what he calls an “illegal and un-American crackdown” on the U.S. cryptocurrency industry, and is being seen as a supporter of the industry. I hope.
Both candidates are expected to address virtual currency regulation and consumer protection in their election campaigns.
Also read: Mark Cuban supports Kamala Harris’ efforts in crypto community
