Thecryptomoneyiscominginhardandfastaheadofnextmonth’selection.
ThelatestcomesfromRipple’sco-founderandexecutivechairman,ChrisLarsen,whosaidMondaythathehasdonatedanother$10millioninXRP,theseventhbiggestdigitalassetbymarketcap,tosupportVicePresidentKamalaHarris\'campaignforU.S.president.
RippleconfirmedtoDecryptthatLarsenhadmadethepersonaldonation,followinghistweetonthematter.TheNewYorkTimesreportedSundaythatLarsenhaddonated$10milliontoFutureForward,aprominentDemocraticPAC,amidarecord-settingfundraisingquarterfortheHarriscampaignandassociatedorganizations.Larsentweetedaconfirmationofthereport,notingthatthedonationwasmadeinXRP.
“It’stimefortheDemocratstohaveanewapproachtotechinnovation,includingcrypto,”hewrote,addingthathewassureHarriswould“ensurethatAmericantechnologydominatestheworld.”
It\'stimefortheDemocratstohaveanewapproachtotechinnovation,includingcrypto.Ibelieve@KamalaHarriswillensurethatAmericantechnologydominatestheworld,whichiswhyI’mdonating$10MinXRPinsupportofher.https://t.co/vb9KJA87JK
—ChrisLarsen(@chrislarsensf)October21,2024
Earlierthismonth,anFECfilingshowedthatChrisLarsenhaddonated1,754,815.29XRP,worth$1million,tothesamePACbackinAugust.ARippleLabsrepresentativeconfirmedtoDecryptthatthelatest$10millionpersonaldonationtothePACdidnotincludetheearlierbatchofXRP.
LarsenhelpedsetupRipple,afintechcompanythatwantstomakeiteasierforbusinessestomovemoneyacrossborders.Healsoco-foundedXRP,theseventhbiggestdigitalcoinbymarketcap.ThecompanyandXRPoperateindependently,thoughRippleutilizesXRPforitsservices.
Ripple’sdealingswiththegovernmenthavetypicallybeencombative,andthecompanymadeheadlineslastyearafterpartiallywinningalong-runninglawsuitbroughtagainstitbytheU.S.SecuritiesandExchangeCommission(SEC).
TheSEChadhitRipplewitha$1.3billionlawsuitin2020—allegingthatthecompanysoldunregisteredsecuritiesintheformofthecryptocurrencyXRPtoinvestorstoraisefunds.
Butlastyear,ajudgeruledthatprogrammaticsalesofXRPoncryptocurrencyexchangestoretailinvestorsdidnotqualifyassecurities.
Thejudgealsoruledthat$728millionworthoftokensforinstitutionalsalesdidconstituteunregisteredsecuritiessales,buttheoveralldecisionhasbeeninterpretedasawinbyRipple—andthecryptoindustryasawhole.RippleandtheSECarestillengagedintheappealsprocess.
RippleLabsCEOBradGarlinghouseweighedinonLarsen\'slatestdonationinatweetreply,referencingthecompany\'songoingfightagainsttheregulator.
\"IrespectChris’(andeveryone’s!)righttosupportwhomevertheythinkisbesttoleadtheU.S.Weneedtoimmediatelychangecoursefromthisadministration’smisguidedwaroncrypto,\"Garlinghousetweeted.\"RipplewillcontinuetoengagewithbothDemocratsandRepublicansinthefinaldaysofthecampaigns(andaftertheelection)topromotepro-cryptopolicies.It’snotaboutpartylines;it’saboutchampioningpoliciesthatdriveblockchainandcryptoinnovation.\"
IrespectChris’(andeveryone’s!)righttosupportwhomevertheythinkisbesttoleadtheU.S.
Weneedtoimmediatelychangecoursefromthisadministration’smisguidedwaroncrypto.
RipplewillcontinuetoengagewithbothDemocratsandRepublicansinthefinaldaysof…
—BradGarlinghouse(@bgarlinghouse)October21,2024
Aheadofnextmonth’selection,RepublicancandidateDonaldTrumphascomeoutasthemorecrypto-friendlycandidate—andhasreceivedmoremoneyfromtheindustryasaresult.
TheHarriscampaignhasonlyrecentlystartedtalkingabouthowitwouldhelptheecosystemintheU.S.
EditedbyAndrewHayward
decrypt.co