Ripple co-founder and chairman Chris Larsen has made significant contributions totaling more than $11.8 million to Vice President Kamala Harris’ presidential campaign.
Federal Election Commission (FEC) data analyzed by blockchain analyst James Delmore and verified by CNBC shows that Larsen contributed $9.9 million to Future Forward, a super PAC supporting Harris, and over $800,000 to the Harris Victory Fund in September.
Larsen, a prominent figure in the cryptocurrency industry, also announced a $10 million donation from Ripple’s own digital currency, XRP, to support Harris. He expressed his belief that the Democratic Party needs a new approach to technology and innovation, especially in the cryptocurrency field. Larsen said, “I believe that Kamala Harris will ensure that American technology dominates the world, so I am donating $10 million from XRP to support her.”
Ripple CEO Brad Garlinghouse thanked Larsen for his contributions and said bipartisan support for crypto-friendly policies is important. “I respect Chris’ (and everyone’s) right to support whoever they think is best to lead the United States,” Garlinghouse said. “We need to immediately change course on this administration’s misguided war on crypto.” He reiterated Ripple’s intent to work with both Democrats and Republicans to advance blockchain innovation and pro-crypto policies.
Larsen’s endorsement of Harris is based on personal conversations with campaign insiders, and he has expressed confidence in Harris’ understanding of the tech sector. Harris, who lives in the Bay Area, has long been associated with Silicon Valley and the innovation economy. Larsen, who has supported candidates from both parties in recent years, told CNBC that Harris’ tech-savvy approach contrasts sharply with the Biden administration, which he believes lacks a clear vision to strengthen U.S. tech leaders.
Larsen’s financial support for Harris dates back to earlier this year. In February, he contributed $6,600 to Harris’ campaign, the maximum personal donation allowed by law, and $100,000 to the Harris Action Fund PAC. His net worth, estimated by Forbes at $3.1 billion, comes primarily from his holdings in XRP and his involvement in Ripple, a company that provides blockchain technology for financial services firms.
*This is not investment advice.