Ripple Co-founder Chris Larsen has backed Vice President Kamla Harris for the upcoming U.S. presidential elections. His blessing comes as the U.S. government is under fire for being perceived as anti-crypto.
With ongoing legal challenges with the U.S. SEC, Larsen aligns himself with Democratic leadership, prompting Harris to show that she understands the importance of the innovation economy.
Ripple’s Larsen Endorses Harris Amid Criticism
She supported Kamala Harris because of her association with California’s tech sector and her record on innovation. Larsen said Harris understands the role of technology in maintaining the U.S. edge. He told her leadership could propel other sectors like blockchain, where Ripple is a big player.
Alongside Larsen’s goals for Ripple, Harris has shown interest in defining a regulatory framework for crypto, even if Bitcoin and blocks remain ambiguous. In backing them, she comes at odds with the broader Biden administration, which the crypto community has called out. Larsen endorses her because he believes she’s a potential champion for innovation-friendly policies.
Although the government’s crypto policies have been met with controversy, Larsen only recently donated $1 million of XRP to Future Forward, a political action committee backing Kamala Harris. This significant contribution underscores his continued faith in Harris’s ability to drive tech-centric policies. This donation is only the latest in a series of financial contributions Larsen has given to other Democratic candidates in recent years.
That comes as many people in the crypto space question his decision to support Harris. But Larsen seems to care more about what the tech landscape looks like versus this administration’s official stance on crypto. It has had its critics and its devotees from all parts of the market.
Ripple CEO Stands Firm in Legal Battle
Ripple is locked in a legal battle with the US Securities and Exchange Commission (SEC) over its position on XRP. Many people in the crypto community think Donald Trump’s coming back into office may bring clearer crypto regulations, but Larsen is steadfast in his support for Harris.
This comes after Ripple filed a cross-appeal in the case, continuing to fight the SEC and pushing its fight against the authority of the chair, Gary Gensler.
This contrasts much of the crypto market, as the government is often criticized for not moving quickly enough towards regulation. But his confidence in Harris might also indicate that he believes she can best account for the tech industry’s desires. Meanwhile, Ripple’s CEO, Brad Garlinghouse, has voiced confidence in the legal case Ripple has brought, promising to continue resisting overreach by regulators.
Harris’s Crypto Policy Could Shape U.S. Regulation
Both supporters and critics have noticed Kamala Harris’ support for a crypto regulatory framework. Some view her stance as a political strategy ahead of the election, while others believe that it is a genuine attempt to earn clarity for the crypto market. With Harris’s views on this issue, the U.S. could begin to shape how crypto will be regulated.
Despite these criticisms, Larsen’s support for Harris shows that he’s betting she can take clear, pro-innovation policies forward. He’s highlighting such support as an emphasis on long-term regulatory solutions instead of a drive for right-now gain, which speaks to that. Larsen’s alliance with Harris could steer U.S. tech policy in a different direction as Ripple’s legal battle carries on.
