In a notable development in the U.S. presidential race, Chris Larsen, co-founder and executive chairman of Ripple, has added his name to a letter endorsing Vice President Kamala Harris for the 2024 presidential election. The letter, reported by CNBC on September 6, boasts the support of 88 prominent corporate leaders, including notable figures such as Aaron Levie of Box, Yelp CEO Jeremy Stoppelman, Snap chairman Michael Lynton, and former 21st Century Fox CEO James Murdoch.
This endorsement comes at a time of heightened political activity within the crypto industry. In early August, Gene Sperling, a former Ripple board member and seasoned economic adviser, transitioned from his role at the White House to join Harris’ presidential campaign. Sperling’s departure, coupled with his previous experience under Presidents Bill Clinton, Barack Obama, and Joe Biden, underscores the growing intersection between cryptocurrency and U.S. politics.
The involvement of crypto veterans in Harris’ campaign is part of a broader trend. David Plouffe, another prominent figure with ties to the crypto world, recently joined the Harris campaign. Plouffe, known for his advisory role at Binance and crypto payments provider Alchemy Pay, reflects a shift in campaign strategy as candidates increasingly engage with the crypto sector.
The Ripple endorsement highlights the political sway of the cryptocurrency industry. Ripple CEO Brad Garlinghouse has speculated that the outcome of the upcoming election could lead to significant changes in key regulatory positions, such as the potential departure of SEC Chair Gary Gensler. Such predictions underscore the critical role that regulatory and political climates play in shaping the future of digital currencies.
Adding to the political engagement, Harris’ campaign is now open to crypto donations through the Future Forward political action committee, marking a significant step in integrating cryptocurrency into mainstream political fundraising. This move aligns with a broader trend among U.S. presidential candidates, as former President Donald Trump has also voiced strong support for cryptocurrency, pledging to elevate America as a global hub for digital assets.
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Ripple’s Chris Larsen is not alone in his political endorsements. In June, ARK Invest CEO Cathie Wood, a notable advocate of Bitcoin, publicly supported Trump, while Gemini co-founders Cameron and Tyler Winklevoss have pledged $1 million in Bitcoin to Trump’s reelection campaign. These endorsements reflect a growing trend of crypto executives leveraging their influence in the political arena.
As the 2024 election approaches, the involvement of crypto industry leaders in political endorsements and fundraising efforts highlights the increasing intersection of technology and politics. The endorsement by Ripple’s Larsen and others is a testament to the crypto sector’s evolving role in shaping U.S. presidential campaigns and the broader political landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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