In a surprising turn of events, Kamala Harris’ political campaign received over 1 million XRP in donations.
The development was revealed on Friday and confirmed by CNBC and FOX Business News. The large donation by XRP tokens to fund the re-election of a government facing criticism from crypto holders, especially XRP investors, has raised a lot of eyebrows in the crypto community.
Ironically, the donation came from Chris Larsen, Ripple’s co-founder and chairman, according to a new FEC filing. The filing revealed that Larsen donated $1 million in XRP tokens to a prominent super PAC supporting Kamala Harris. Specifically, we donated 1,754,815.29 XRP to Future Forward USA to support Harris’ campaign.
Although the donation was received in August, it is worth noting that the documentation of this action was only published yesterday. The receipt showed that the donated XRP tokens were not liquidated and were held in their original form at the time Larsen made the payment.
🚨Scoop: @ripple co-founder @chrislarsensf Made the first documentation #cipher Donation to @KamalaHarris.
Larsen donated $1 million, according to new FEC filings. $XRP to Future Forward USA, one of the major super PACs supporting Harris.@AppBreadcrumbs pic.twitter.com/XAYbUImpS5
— Eleanor Terrett (@EleanorTerrett) October 11, 2024
Has the Harris administration come to recognize XRP as “money”?
The move prompted mixed reactions from the crypto community, with various commentators expressing their views on Larsen’s donation.
CryptoLaw suggested that the Harris campaign’s acceptance of such a large number of XRP tokens suggests that the administration may recognize XRP as money rather than securities.
However, some commenters argued that the Harris campaign simply doesn’t care which crypto assets are used in donations, as long as it receives the necessary funds. In response, CryptoLaw reiterated that this perspective reinforces the point of recognizing XRP as money.
Meanwhile, other commentators found it ironic that Ripple’s chief executive may be funding the election campaign of an administration that has suffered major setbacks due to four consecutive years of litigation. I felt it.
“You’re going to pay people who are suing, right? There’s no question about that,” said digital asset investor Ian Heinisch. “They’re doing this as if XRP couldn’t get any more ridiculous,” said crypto angel investor Jeff Kardeikis.
Prominent figures in the crypto industry, such as Dogecoin founder Billy Marcus, believe that Larsen’s $1 million XRP donation to Harris’ campaign is a strategic move that will influence her stance on cryptocurrencies in the future. I think it has the potential to become
Crypto community reaction to Larsens XRP donation
Interestingly, other Ripple executives, including Chief Legal Officer Stuart Alderotti, have also donated XRP to Donald Trump’s campaign. According to online experts, this apparent split in Ripple’s leadership, which supports both sides of the political spectrum, could be a strategic move to maintain support no matter who wins in the November elections. .
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