Fox Business’ cryptocurrency-focused correspondent Eleanor Terrett recently covered a fundraising incident that has resonated with the crypto community.
Ripple (XRP) co-founder Chris Larsen, who was embroiled in a costly and contentious legal battle with the SEC during the Democrat-led administration in the US, made a large donation to Democratic candidate Kamala Harris.
This is the first official crypto donation to Kamala Harris, according to the data. Larsen donated $1 million worth of XRP to Harris, according to FEC filings.
Interestingly, unlike most cryptocurrency companies, Ripple supports Democratic candidate Kamala Harris in the US elections.
The $1 million XRP donated was not transferred directly to Harris' published cryptocurrency wallets, as Harris does not have any work in this direction and does not accept direct cryptocurrency donations. Instead, these donations will be sent through cryptocurrency organizations that support Harris. It is estimated that the XRP stash in question will probably be converted into dollars and used in Harris' election campaign.
*This is not investment advice.