As the US presidential election approaches, Ripple founder Chris Larsen reveals why he supports US Vice President and Democratic candidate Kamala Harris. Larsen became the largest single donor in the crypto industry this election cycle after his two XRP donations to the Harris campaign earlier this month.
Kamala Harris Will Have a ‘Completely Different Approach’
Chris Larsen, founder and executive chairman of Ripple, recently joined CNBC to discuss his endorsement and crypto donations to the campaign of Democratic candidate Kamala Harris.
During the interview, Larsen asserted that his support for VP Harris was based on the belief that his administration would approach the crypto industry differently than the Biden administration.
Ripple’s founder suggested that Biden’s administration was out of step with the industry. Instead, they “ignored” and gave the reigns of the industry’s regulatory approach to figures like Senator Warren and Securities and Exchange Commission (SEC) Chairman Gary Gensler.
Larsen noted that Senator Elizabeth Warren has led “the wrong war on crypto,” which has led to London and Singapore taking leadership of the industry “when it should be in the US.”
In addition, the much-criticized approach to regulatory enforcement has failed to protect US-based investors, allowing “smart foreign operators like FTX to rip off American consumers.”
The senior chairman of Ripple shared his happiness with the economic message of Harris, noting that the VP of the US met with several figures from different industries, including the crypto sector. For Larsen, the Democratic nominee’s message is “pro-innovation,” seeking to ensure that “American champions dominate their industries” around the world.
He also suggested that the DNA of the Harris administration “comes from the innovation capital of the world,” which gives him hope that it will be a completely different approach than the failed Biden administration.
Ripple Co-Founder’s Continued Support of Harris’ Campaign
It is worth noting that although many experts in crypto and statistics hold the position of Donald Trump to support the industry, Larsen joined Mark Cuban and publicly advocated for the Vice President of the US. As reported by Bitcoinist, the founder of Ripple, along with other leaders of eighty-seven companies, endorsed Kamala Harris in early September after signing a letter revealing their support.
This month, he continued to support the Harris campaign after donating about 11.8 million in XRP to the Candidate Super Political Action Committee (PAC), Future Forward USA, and became the single largest crypto donor in this campaign cycle.
On October 11, Ripple’s executive chairman sent $1 million in XRP to Future Forward, marking the first recorded crypto donation to a Super PAC. This was followed by a $10 million donation on October 21, with Larsen stating his belief that “Kamala Harris will ensure that American technology dominates the world.”
Since then, Larsen has endorsed the Democratic nominee, saying “it’s time for Democrats to have a new approach that includes crypto.” During a CNBC interview, he said the crypto war is over as American investors will see bipartisan support for whoever wins the November election.
I think the good news right now is that we’re seeing this kind of bipartisan support for whoever wins the white house. Whether Republicans or Democrats, I think the crypto war is over, and we want to encourage pro-digital asset political leaders.
This appears to be a growing sentiment in the industry, with figures such as Pro-XRP Representative John Deaton challenging Senator Warren’s seat in the Senate. In the meantime, investors have noted that the sector is “unaligned” and that users should force both sides “to come to heel” since crypto will win regardless of which 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
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