Chiara Bianchi
Ripple co-founder Chris Larsen contributed $1 million in cryptocurrency to a political action committee (PAC) supporting Vice President Kamala Harris.
According to filings from the Federal Election Commission, Larsen made the donation on August 14, 2024, providing 1,754,815.29 XRP (valued at $1 million) to Future Forward PAC, which backs Harris’ presidential campaign. This PAC accepts crypto donations through Coinbase Commerce, which converts the donated crypto into USDC to avoid price volatility.
Eleanor Terrett of Fox Business reported that this donation marks the first known crypto contribution to Harris. As of August 31, Future Forward PAC has raised over $200 million, with notable donors including former New York City Mayor Michael Bloomberg, venture capitalist Reid Hoffman, and Coinbase.
๐จSCOOP: @Ripple co-founder @chrislarsensf has made the first documented #crypto donation to @KamalaHarris.
According to new FEC filings, Larsen donated $1 million in $XRP to one of the leading super PACs supporting Harris โ Future Forward USA.@AppBreadcrumbs pic.twitter.com/XAYbUImpS5
โ Eleanor Terrett (@EleanorTerrett) October 11, 2024
Initially supporting President Joe Biden’s re-election bid before he withdrew from the race, the PAC has now shifted its focus to Harris’ campaign.
Cryptocurrency has become a significant topic in the upcoming U.S. elections. Harris, in her campaign, has outlined plans to encourage emerging technologies like AI and digital assets, while ensuring consumer protection, as detailed in her 80-page economic plan. On the other hand, Republican candidate Donald Trump has promised to end what he calls an “unlawful and un-American crackdown” on the U.S. crypto industry, positioning himself as an ally of the crypto community.
