In a remarkable turn of events, the political campaign of Kamala Harris has received over 1 million XRP as donations.
This development came to light on Friday and has been confirmed by CNBC and FOX Business News. The substantial donation in XRP tokens, which will finance the reelection of an administration that has faced criticism from crypto holders—particularly XRP investors—has raised significant eyebrows in the crypto community.
Ironically, the donation came from Chris Larsen, co-founder and chairman of Ripple, according to new FEC filings. The filing revealed that Larsen contributed $1 million in XRP tokens to a prominent super PAC backing Kamala Harris. Specifically, he donated 1,754,815.29 XRP to Future Forward USA to support Harris’ campaign.
It is worth noting that the donation was received in August, but documentation of this action only became public yesterday. The receipt indicated that the donated XRP tokens were not liquidated but retained in their original form when Larsen made the payment.
🚨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
Harris Administration Now Recognizing XRP as “Money”?
This move has elicited mixed reactions from the crypto community, with various commentators offering their perspectives on Larsen’s donation.
CryptoLaw suggested that the Harris campaign’s acceptance of such a large volume of XRP tokens implies the administration may be recognizing XRP as money rather than a security.
However, some commenters argued that the Harris campaign may simply not care which crypto asset is used for donations as long as the campaign receives the funding it needs. In response, CryptoLaw reiterated that this perspective reinforces the point of recognizing XRP as money.
Meanwhile, other commentators found it ironic that a top executive at Ripple could be funding the campaign of an administration that has caused significant setbacks for them due to a four-year-running lawsuit.
“Paying the people that are suing you, huh? Nothing suspicious about that,” remarked Ian Heinisch, a digital asset investor. “As if XRP couldn’t get any more ridiculous, they do this,” said Jeff Kirdeikis, an angel investor in crypto.
Prominent figures in the crypto industry, such as Dogecoin founder Billy Markus, believe Larsen’s $1 million XRP donation to Harris’ campaign could be a strategic move to influence her stance on cryptocurrency in the future.
Interestingly, other Ripple executives, like chief legal officer Stuart Alderoty, have made donations in XRP to Donald Trump’s campaign. According to online pundits, this apparent divide in Ripple’s leadership, supporting both sides of the political spectrum, maybe a strategic move to maintain favor regardless of who wins the November election.