As the US presidential election approaches, Ripple co-founder Chris Larsen has revealed his reasons for supporting US Vice President and Democratic candidate Kamala Harris. Larsen has become the single largest donor to the crypto industry this election cycle after making two XRP donations to Harris’ campaign earlier this month.
Kamala Harris takes a ‘completely different approach’
Ripple co-founder and executive chairman Chris Larsen recently joined CNBC to discuss his support for Democratic candidate Kamala Harris and crypto donations to her campaign.
During the interview, Larsen asserted that his support for Vice President Harris is based on his belief that her administration will approach the crypto industry differently than the Biden administration.
Ripple’s co-founder suggested the Biden administration is not against the industry. Instead, they “didn’t pay attention” and left it to figures like Sen. Warren and Securities and Exchange Commission Chairman Gary Gensler to lead the sector’s regulatory approach.
Larsen said Sen. Elizabeth Warren has led a “misguided war on cryptocurrencies” that has led to London and Singapore taking control of the industry “at a time when the United States should be leading.”
Additionally, the heavily criticized enforcement-based regulatory approach failed to protect U.S.-based investors and allowed “opaque foreign operators like FTX to defraud U.S. consumers.”
Ripple’s executive chairman shared his excitement over Harris’ economic message, noting that the US vice president had met with several people from various industries, including the crypto sector. For Larsen, the Democratic candidate’s message is “pro-innovation” and aims to ensure that “America’s champions dominate their industries” around the world.
He also suggested that the Harris administration’s DNA “comes from the world capital of innovation,” giving confidence that it will be a very different approach than what the failed Biden administration brought.
Ripple co-founder continues to support Harris’ campaign
Notably, while many crypto experts and celebrities support Donald Trump’s pro-industry stance, Larsen also joins Mark Cuban in publicly expressing support for the US vice president. That’s what I did. As reported by Bitcoinist, the Ripple co-founder endorsed Kamala Harris in early September after signing a letter of support along with 87 other company leaders.
He continues to donate approximately $11.8 million in XRP this month to the candidate’s super political action committee (PAC), Future Forward USA, making it the single largest cryptocurrency donor during this campaign. Supported Harris’ campaign.
On October 11, Ripple’s executive chairman transferred $1 million worth of XRP to Future Forward, marking the first documented cryptocurrency donation to a super PAC. This was followed by a $10 million donation on October 21st, with Larsen expressing his belief that “Kamala Harris will ensure American technology dominates the world.”
Since then, Larsen has vouched for Democratic candidates, arguing that “it’s time for Democrats to take a new approach that includes cryptocurrencies.” In an interview with CNBC, he said the crypto wars are over because U.S. investors will have bipartisan support no matter who wins the November election.
I think the good news right now is that no matter who wins the White House, we’re going to see this kind of bipartisan support. Whether Republican or Democratic, I think the cryptocurrency wars are over and we want to encourage pro-digital asset political leaders.
This appears to be a growing sentiment within the industry, with figures like pro-XRP lawyer John Deaton challenging Warren’s seat in the Senate. Investors, meanwhile, said users should be forced to “come to terms” with both sides, as the sector is “nonpartisan” and cryptocurrencies win regardless of party affiliation.
XRP is trading at $0.52 on the 3-day chart. Source: XRPSDT on TradingView
Featured image from Unsplash.com, chart from TradingView.com
