Cryptocurrencies are coming in fast and hard ahead of next month’s election.
The latest news is that Ripple co-founder and chairman Chris Larsen on Monday pledged $10 million in XRP, the seventh-largest digital asset by market capitalization, to support Vice President Kamala Harris’s US presidential campaign. It was revealed that additional donations were made.
The reply has been confirmed. decryption Larsen reportedly made a personal donation following his tweet on the issue. that new york times On Sunday, it was reported that Larsen had donated $10 million to Future Forward, a prominent Democratic PAC, during a record-breaking fundraising quarter for the Harris campaign and related organizations. Larsen tweeted confirmation of the report, noting that the donation was made in XRP.
“Now is the time for Democrats to take a new approach to technological innovation, including cryptocurrency,” he said, adding that he was confident Harris “will ensure that American technology dominates the world.”
Earlier this month, FEC filings showed that Chris Larsen donated 1,754,815.29 XRP worth $1 million to the same PAC in August. A Ripple Labs representative confirmed: decryption The recent $10 million private donation to the PAC did not include previous XRP placements.
Larsen helped found Ripple, a fintech company that makes it easier for businesses to move funds across borders. He is also co-founder XRPIt is the 7th largest digital coin by market capitalization. Although the company and XRP operate independently, Ripple uses XRP for its services.
Ripple’s dealings with the government have generally been combative, and the company made headlines last year after partially winning a long-running lawsuit brought by the U.S. Securities and Exchange Commission (SEC).
The SEC filed a $1.3 billion lawsuit in 2020, alleging that Ripple sold unregistered securities to investors in the form of the cryptocurrency XRP to raise funds.
But last year, the judge dominate Programmatic sales of XRP on cryptocurrency exchanges to retail investors are not considered securities.
The judge also ruled that $728 million worth of tokens for institutional sale constituted the sale of unregistered securities, but the overall decision was interpreted as a victory for Ripple and the cryptocurrency industry as a whole. Ripple and the SEC are still involved in the appeal process.
Ripple Labs CEO Brad Garlinghouse weighed in on Larsen’s recent donation in a tweet response, citing the company’s ongoing battle with regulators.
“I respect Chris’ (and everyone’s!) right to support whoever he thinks is best to lead America,” Garlinghouse said on Twitter. “Ripple will continue to work with both Democrats and Republicans in the final days of the campaign (and beyond the election) to promote pro-crypto policies. This is not about party lines, but policies that drive blockchain and cryptocurrency innovation. It’s about advocacy.”
Ahead of next month’s election, Republican candidate Donald Trump has emerged as a more cryptocurrency-friendly candidate and has received more money from the industry as a result.
The Harris campaign has only recently started talking about how it will benefit America’s ecosystem.
Editor: Andrew Hayward
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