Because the US presidential elections near, Ripple co-founder Chris Larsen revealed the rationale for supporting the US Vice President and Democratic nominee Kamala Harris. Larsen became the biggest single donor of the crypto industry this election cycle after his two XRP donations to Harris’ campaign earlier this month.
Kamala Harris To Have A ‘Completely Different Approach’
Chris Larsen, co-founder and executive chairman of Ripple, recently joined CNBC to debate his endorsement and crypto donations to the campaign of the Democratic candidate Kamala Harris.
Through the interview, Larsen asserted that his support for VP Harris was based on the assumption that her administration would approach the crypto industry otherwise than the Biden administration.
Ripple’s co-founder suggested that Biden’s administration wasn’t against the industry. As a substitute, they “didn’t listen” and gave the reigns of the sector’s regulatory approach to figures like Senator Warren and Securities and Exchange Commission (SEC) Chairman Gary Gensler.
Larsen noted that Senator Elizabeth Warren led a “misguided war on crypto,” which resulted in London and Singapore taking the industry’s leadership “when it must have been within the US.”
Furthermore, the heavily criticized regulation-by-enforcement approach didn’t protect US-based investors, allowing “sketchy foreign operators like FTX to tear off American consumers.”
Ripple’s executive chairman shared his excitement for Harris’ economic message, noting that the US VP has met with several figures from different industries, including the crypto sector. To Larsen, the Democratic nominee’s message is “pro-innovation,” looking for to be certain that “American champions dominate their industries” worldwide.
He also suggested that the Harris administration’s DNA is “from the world capital of innovation,” which supplies him the arrogance that it would be a very different approach than the failed Biden administration brought.
Ripple Co-Founder’s Continued Support Of Harris’ Campaign
It’s price noting that while many crypto experts and figures have championed Donald Trump’s pro-industry stance, Larsen joined Mark Cuban and publicly advocated for the US Vice President. As reported by Bitcoinist, the Ripple co-founder, alongside one other eighty-seven corporate leaders, endorsed Kamala Harris in early September after signing a letter disclosing their support.
This month, he continued to support Harris’ campaign after donating around $11.8 million in XRP to the candidate’s Super Political Motion Committee (PAC), Future Forward USA, and becoming the biggest single crypto donor this campaign cycle.
On October 11, Ripple’s executive chairman sent $1 million price of XRP to Future Forward, marking the primary documented crypto donation to the Super PAC. This was followed by a $10 million donation on October 21, with Larsen stating his belief that “Kamala Harris will be certain that American technology dominates the world.”
Since then, Larsen has vouched for the Democratic nominee, claiming that “it’s time for the Democrats to have a recent approach including crypto.” Through the CNBC interview, he stated that the crypto war is over as American investors will see bipartisan support from whoever wins the November election.
I feel the excellent news now’s that we see this form of bipartisan support from whoever wins the white house. Whether it’s Republicans or Democrats, I feel the war in crypto is over, and we would like to encourage pro-digital asset political leaders.
This appears to be a growing sentiment inside the industry, with figures like Pro-XRP Lawyer John Deaton difficult Senator Warren’s seat within the Senate. Meanwhile, investors have remarked that the sector is “non-partisan” and that users should force either side “to come back to heel” as crypto will triumph whatever the party.
XRP is trading at $0.52 within the three-day chart. Source: XRPUSDT on TradingView
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