While many crypto industry leaders support Donald Trump, Ripple co-founder Chris Larsen has continued to donate an additional $10 million XRP to boost Kamala Harris' campaign.
Ripple co-founder continues to support Kamala Harris with $11 million
In less than 10 days after donating $1 million XRP to Vice President Kamala Harris, on October 21, Ripple co-founder Chris Larsen once again drew attention when he announced on the X platform that he had continued to support an additional $10 million XRP for Future Forward PAC supporting Ms. Harris.
It's time for the Democrats to have a new approach to tech innovation, including crypto. I believe @KamalaHarris will ensure that American technology dominates the world, which is why I'm donating $10M in XRP in support of her. https://t.co/vb9KJA87JK
— Chris Larsen (@chrislarsensf) October 21, 2024
He said the Democratic Party needs a new approach to technology innovation, including the cryptocurrency sector, and Harris is the one who can do it. Larsen believes Harris will help American technology dominate the global position and guide development in a direction that is friendly to the young industry like blockchain and crypto.
Ripple CEO Brad Garlinghouse also emphasized in Chris Larsen's post that Ripple will continue to interact with both the Democratic and Republican parties to promote policies that support the blockchain and crypto industry.
I respect Chris' (and everyone's!) right to support whomever they think is best to lead the U.S.
— Brad Garlinghouse (@bgarlinghouse) October 21, 2024
We need to immediately change course from this administration's misguided war on crypto.
Ripple will continue to engage with both Democrats and Republicans in the final days of…
Previously, Garlinghouse also donated $50,000 to a Super PAC fund to help the Republican Party gain an advantage in the Senate and confront anti-cryptocurrency politicians, especially Senator Elizabeth Warren.
The crypto industry is strongly supporting the 2024 US Presidential election
The 2024 US presidential election has witnessed an unprecedented strong participation from the cryptocurrency industry, with hundreds of millions of dollars donated from industry leaders and organizations to support the candidates.
According to Open Secrets, the Future Forward PAC, which received donations from Larsen, has raised over $200 million to support Ms. Harris. This PAC has attracted the attention of many major investors such as Michael Bloomberg, venture capitalist Reid Hoffman, and the Coinbase exchange.
Statistics on the Future Foward PAC supporting Ms. Harris. Source: The Open Secrets
The Future Forward PAC was initially set up to support President Joe Biden's re-election campaign. However, after Biden announced his withdrawal from the race, the PAC shifted to supporting Harris, hoping she would continue the technology and cryptocurrency-friendly policies.
In addition, the Fairshake Super PAC also stood out in this year's election, attracting a massive $202 million from major crypto organizations including Coinbase, Ripple Labs, and Andreessen Horowitz (a16z). Fairshake advocates for distributing funding between candidates from both the Democratic and Republican parties, without taking a specific partisan stance.
Statistics on the Fairshake Super PAC. Source: The Open Secrets
On the side of Donald Trump, the former President has also received support from prominent figures in the industry such as the Winklevoss twins, Jesse Powell, the co-founder of Kraken, and even Marc Andreessen and Ben Horowitz of a16z. According to the latest report, the Trump 47 PAC has received $7.5 million from crypto donations, and the total amount this fund has raised has reached over $287 million.
Statistics on the Trump 47 PAC supporting Donald Trump. Source: The Open Secrets
This is also understandable, as between the two presidential candidates, Donald Trump has shown himself to be more supportive of the cryptocurrency industry. He has repeatedly pledged to support the crypto industry, promising to promote Bitcoin mining and fire SEC Chairman Gary Gensler if re-elected, while proclaiming himself the "Cryptocurrency President".
On the other hand, Ms. Harris' campaign seems to be "slower" on this front. It was not until last month that the candidate promised to support the crypto industry if elected, but will not announce her crypto policy before the election.
With less than 2 weeks to go, the results of the 2024 US Presidential race will be officially decided. At the time of writing, Trump is gradually creating a clear gap compared to Harris, with odds reaching 63.5%, more than double the 36.4% support for Harris on the Polymarket prediction market.
Forecast of the US Presidential election results, screenshot from Polymarket on the morning of October 22, 2024
Compiled by Coin68
Join the discussion on the hottest DeFi market issues in the Fomo Sapiens chat group with the Coin68 admins!!!
