This donation follows his public support for her back in September.
According to CNBC, Larsen has contributed more than $1.9 million to Harris’s campaign for president of the United States.
Ripple’s Chris Larsen Donates $1M Amid SEC Battle
Larsen’s donation is significant because it comes at a time when his company, Ripple, is still locked in a legal battle with the US SEC. This case started in 2020 and shows no signs of slowing down. Both Ripple and the SEC have filed appeals after a final judgment was reached in August, meaning the fight is far from over. Both sides are ready to keep duking it out in court.
The SEC claims that Ripple sold XRP in a way that broke the law, saying they didn’t register it as a security (like a stock). Ripple disagrees, arguing that XRP is a currency, not a security. This disagreement has led to a long legal fight.
SCOOP: @Ripple co-founder @chrislarsensf has made the first documented #crypto donation to @KamalaHarris.
According to new FEC filings, Larsen donated $1 million in $XRP to one of the leading super PACs supporting Harris — Future Forward USA.@AppBreadcrumbs pic.twitter.com/XAYbUImpS5
— Eleanor Terrett (@EleanorTerrett) October 11, 2024
Larsen’s support for Harris might raise some eyebrows, especially with his legal battle going on. Some people might wonder if his donation is meant to win political favor, but there’s no evidence to suggest that. It could simply be that Larsen believes in Harris’s vision for the country. After all, when it comes to politics, money talks, and large donations are pretty common.
JUST IN: Ripple Co-founder Chris Larsen donates $1 million in $XRP to Kamala Harris. pic.twitter.com/gs75QmhTkn
— Watcher.Guru (@WatcherGuru) October 11, 2024
As for Ripple’s case with the SEC, it’s clear that both sides have dug in their heels. This ongoing fight could have big consequences for the future of cryptocurrency in the US. If Ripple loses, it might set a precedent for how other cryptocurrencies are regulated. But if Ripple wins, it could open the door for more innovation in the crypto space.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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