Vice President Kamala Harris' campaign received $1 million in XRP XRP/USD from Ripple co-founder Chris Larsen.
What Happened: Federal Election Commission (FEC) filings show Larsen donated $1 million in XRP crypto coin (in kind 1.7 million XRP) to Future Forward USA PAC on Aug. 14. The political action committee supports Harris and her campaign.
So far, Larsen donated $1.9 million to Harris as he endorses her in the 2024 White House race. In early September, he signed a letter which favors a Democratic administration under Harris. The letter stated that Harris would “continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment.”
On the other hand, Ripple is in an ongoing legal spat with SEC Chair Gary Gensler over whether the XRP digital token should be registered as a security. Both parties appealed against a final judgment given in August.
Why It Matters: Prediction platform Polymarket shows Harris’s probability of winning the presidential election stands at 46% compared to Donald Trump's 53.6%.
In early September, it was known that Harris' presidential campaign has started accepting cryptocurrency donations and the team is in discussions with Coinbase and Ripple.
In a recent development, Harris indicated that she would consider any encouraging technologies like artificial intelligence and digital assets.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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