Ripple Co-Founder Donates to Kamala Harris

Ripple co-founder Chris Larsen donated $1 million in cryptocurrency to a political action committee supporting Vice President Kamala Harris.

According to Federal Election Commission filings, the donation was made on August 14 in a "non-contribution account; in-kind: 1,754,815.29 XRP not liquidated." The funds went to Future Forward PAC, which accepts crypto donations for Harris' presidential campaign.

Future Forward PAC partners with Coinbase Commerce, a platform that converts users' chosen currency into USDC, a stablecoin, to mitigate volatility.

The donation marks the first crypto support for Harris, as reported by Fox Business' Eleanor Terrett.

As of August 31, the PAC has raised over $200 million, with contributions from notable figures like former NY Mayor Michael Bloomberg, venture capitalist Reid Hoffman, and crypto exchange Coinbase. Initially, the PAC supported President Joe Biden before shifting focus to Harris after he withdrew from the race.

Cryptocurrency has become a significant topic in the upcoming elections on November 5. Last month, Harris emphasized her intention to promote innovative technologies, including AI and digital assets, in alignment with her 80-page economic plan. In contrast, Republican candidate Donald Trump has vowed to end what he calls an "unlawful crackdown" on the crypto industry, expressing a supportive stance toward it.