Ripple chairman and co-founder Chris Larsen joins other high-profile business leaders to endorse U.S. Vice President Kamala Harris for president.
CNBC reported today that 88 current and former business executives signed a letter declaring support for Harris. The letter, which was shared with CNBC, shows that Ripple’s co-founder was among the executives who endorsed Harris’ presidential ambition.
These business executives believe Harris will strengthen the United States economy and democracy. Furthermore, they claim that the U.S. vice president will promote a stable business environment, potentially helping American industries thrive.
Besides Larsen, other top business executives who co-signed the letter include chairman of Snap Michael Lynton, Jeff Lawson of Twilio, Facebook co-founder Dustin Moskovitz, and others.
Shocking Move
Larsen’s support for Harris might come as a shock to many XRP proponents. For context, Ripple has endured a multi-year securities lawsuit under the current administration, with Harris serving as vice president.
The SEC v. Ripple lawsuit has been ongoing since December 2020, nearly four years ago. Despite the court issuing a final judgment, speculations suggest that the SEC might prolong the lawsuit with an appeal.
Uphold Co-Founder Endorse Harris
Meanwhile, Larsen is not the only crypto executive who sees Harris as the best bet for the industry. Last month, Uphold’s co-founder J.P. Theriot publicly endorsed Harris, the Democratic Party presidential nominee, for president.
Theriot claimed that Harris is suitable for the position, adding that she boasts a better understanding of crypto than her opponent, Donald Trump. He said Trump’s crypto promises are vague, indicating that they may not yield positive results.
Significance of Upcoming U.S. Elections
For many crypto executives, the upcoming presidential election is of the utmost importance for the industry. They believe the outcome could stifle or foster the industry’s growth.
In the meantime, most crypto executives have backed Donald Trump’s reelection bid due to his enticing promises. The list of crypto executives supporting Trump includes prominent figures like Ripple CLO Stuart Alderoty, Gemini co-founders Tyler and Cameron Winklevoss, and Kraken co-founder Jesse Powell.
While Alderoty donated $300,000 worth of XRP to Trump’s campaign, Tyler, Cameron, and Powell each donated $1 million in BTC.
Trump has continuously reiterated support for the crypto industry, disclosing an intention to fire SEC Chairperson Gary Gensler on the first day he assumes the presidential seat. Furthermore, he vowed to make America the crypto capital of the world by embracing “industries of the future” and not attacking them.
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