Ripple co-founder Chris Larsen has pledged $10 million worth of XRP to support Vice President Kamala Harris in her election bid against former President Donald Trump. This makes him the largest individual backer from the crypto sector for Harris, emphasizing the need for a fresh approach to technology innovation, including cryptocurrency. Previously, he donated $1.75 million to the political action committee Future Forward and has contributed hundreds of thousands to various Democratic campaigns. His substantial donations pale in comparison to the $169 million from the super PAC Fairshake, predominantly funded by Coinbase, Ripple Labs, and Andreessen Horowitz, which aims to distribute funding across both major political parties. Despite some crypto industry leaders supporting Donald Trump, including notable figures from Andreessen Horowitz, others are also backing Harris due to personal relationships. Larsen’s donations are funneled to super PACs which can make unlimited independent expenditures, while direct contributions to candidates are heavily restricted. Moreover, Ripple has historically supported Republican efforts, illustrating the complex political landscape within the crypto industry.

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