As the US presidential election approaches, Ripple co-founder Chris Larsen revealed his reason for supporting US Vice President and Democratic candidate Kamala Harris. Larsen became the crypto industry’s largest single donor this election cycle after making two XRP donations to Harris’ campaign earlier this month.
Kamala Harris has a ‘completely different approach’
Most recently, Chris Larsen, co-founder and executive chairman of Ripple joined CNBC to discuss his endorsement and crypto donations to Democratic candidate Kamala Harris’ campaign.
During the interview, Larsen asserted that his support for Vice President Harris was based on the belief that her administration would approach the cryptocurrency industry differently than the Biden administration.
The Ripple co-founder suggested that the Biden administration is not against the industry. Instead, they “paid no attention” and ceded control of the sector’s regulatory approach to figures such as Senator Warren and Securities and Exchange Commission (SEC) Chairman Gary Gensler.
Larsen noted that Senator Elizabeth Warren was waging a “misguided war on cryptocurrencies” that resulted in London and Singapore taking leadership in the industry “when they should have been in the US.”
Moreover, the heavily criticized enforcement approach failed to protect U.S.-based investors, allowing “dodgy foreign operators like FTX to defraud American consumers.”
The Ripple executive chairman shared his excitement about Harris’ economic message, noting that the US vice president met with several figures from various industries, including the cryptocurrency sector. For Larsen, the Democratic candidate’s message is “pro-innovation” and aims to ensure that “American champions dominate their industries” around the world.
He also suggested that the Harris administration’s DNA comes “from the innovation capital of the world,” which gives him confidence that it will be a very different approach than the failed Biden administration brought.
Ripple co-founder’s continued support for Harris’ campaign
It is worth noting that while many cryptocurrency experts and personalities supported Donald Trump’s pro-industry stance, Larsen joined Mark Cuban and publicly advocated for the US Vice President. As Bitcoinist reports, the Ripple co-founder along with eighty-seven other corporate leaders endorsed Kamala Harris in early September after signing a letter revealing their support.
This month, he continued to support Harris’ campaign after donating approximately $11.8 million in XRP to the candidate’s Super Political Action Committee (PAC), Future Forward USA, becoming the largest single cryptocurrency donor this campaign cycle.
On October 11, the Ripple executive sent $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 21, with Larsen expressing confidence that “Kamala Harris will ensure that American technology dominates the world.”
Larsen has since vouched for the Democratic candidate, claiming that “it’s time for Democrats to have a new approach, including cryptocurrencies.” During an interview with CNBC, he stated that the crypto war is over because US investors will see bipartisan support from whoever wins the November election.
I think the good news now is that we’re seeing that kind of bipartisan support from whoever wins the White House. Whether Republican or Democrat, I think the cryptocurrency war is over and we want to encourage political leaders involved in digital assets.
This sentiment appears to be growing within the industry, with people like pro-XRP lawyer John Deaton questioning Senator Warren’s Senate seat. Meanwhile, investors noted that the sector is “unbiased” and that users should force both sides “to cut corners” because cryptocurrencies will triumph regardless of the side.
XRP is trading at $0.52 in the three-day chart. Source: XRPUSDT on TradingView
Featured image from Unsplash.com, chart from TradingView.com
