- Ripple co-founder Chris Larsen has donated $10 million to a Super PAC supporting Kamala Harris’ presidential campaign.
- Crypto donations to Donald Trump’s campaign have surpassed $75 million in Bitcoin, Ethereum, and XRP.
- Despite the support from Larsen, betting markets still favor Trump to win the presidency over Harris.
Ripple Labs co-founder Chris Larsen has donated more money than public records previously showed to support Vice President Kamala Harris in the 2024 presidential election against Donald Trump. This new evidence highlights how pivotal this race is for the crypto industry.
Massive Donations From Larsen
Earlier reports stated that Larsen donated $1 million to Harris’ PAC. However, Fox Business journalist Eleanor Terrett has now revealed that Larsen actually gave three separate donations totaling nearly $10 million in September to Future Forward, the Super PAC supporting Harris.
Larsen confirmed making the donations in cash and XRP, stating his belief that Harris will ensure American technology, including crypto, dominates the world. These donations come in addition to the $1 million in XRP Larsen donated to the PAC in August.
Growing Support, Unchanging Odds
The Trump campaign has also raised over $75 million in crypto donations. However, despite growing crypto industry support, Harris’ odds on prediction market Polymarket have not improved. Most bettors see Trump as the next president, with his odds at 62.5% versus Harris’ 37.5%.
Crypto Community Divided
The election results are critical for crypto regulation. Innovators are divided on the best candidate. While Larsen backs Harris, Cardano’s Charles Hoskinson supports Trump. Most traders see Trump as more crypto-friendly, with plans to fire SEC Chair Gary Gensler.
The donations highlight how pivotal the 2024 election is for the crypto industry. While donations are substantial for both candidates, prediction market odds have not significantly changed. The election results will have a major impact on the regulatory environment for cryptocurrencies.
