Chris Larsen Donates $1 Million to Harris PAC

Chris Larsen, co-founder of Ripple, has donated $1 million in XRP tokens to Future Forward, a super PAC supporting Vice President Kamala Harris's presidential campaign, marking a significant shift in crypto industry backing towards the Democratic Party. Larsen has contributed approximately $1.9 million to Harris's campaign through various channels, citing her understanding of the tech industry and its connection to the innovation economy as key factors for his support. This donation comes amid a broader trend of increased political contributions from the crypto sector, traditionally dominated by Republican candidates. At the Ripple Swell conference, Harris announced the formation of a dedicated cryptocurrency team within the New York Department of Financial Services, indicating growing regulatory focus on the industry. Ripple's CTO, David Schwartz, expressed cautious optimism regarding Harris's campaign promises to establish protective rules for crypto, although skepticism remains among some XRP supporters due to past regulatory challenges. As the political landscape evolves, Larsen's backing of Harris could signal potential shifts in future crypto regulations and policies.