Ripple Founder Supports Harris with $10M XRP, Drawing Criticism from Industry Leaders

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Ripple Founder Supports Harris with $10M XRP, Drawing Criticism from Industry Leaders

• Chris Larsen donates $10 million in XRP to Kamala Harriss campaign through the Future Forward PAC.
• Ryan Selkis of Messari criticizes Larsen, calling for “death to XRP.”
• Bill Morgan calls Larsens donation misguided but faulted Selkiss criticism of XRP.

Chris Larsen, co-founder of Ripple Labs, has donated $10 million in XRP to support Vice President Kamala Harriss 2024 election campaign through the Future Forward super PAC. This move has drawn mixed reactions from the crypto community.

On Monday, Larsen announced his latest donation via a post on X, emphasizing the need for Democrats to adopt a “new approach to tech innovation, including crypto.” He expressed confidence that Harris would ensure American technology remains a global leader. This latest donation builds on Larsens previous support for Harris; he donated $1 million in XRP back in August.

It‘s time for the Democrats to have a new approach to tech innovation, including crypto. I believe @KamalaHarris will ensure that American technology dominates the world, which is why I’m donating $10M in XRP in support of her.

— Chris Larsen (@chrislarsensf) October 21, 2024

Mixed Reactions from Crypto Leaders

Larsens donation sparked a significant backlash in the crypto community, particularly from Ryan Selkis, founder of the analytics firm Messari. Selkis criticized Larsen harshly, labeling him with various names. He asserted that XRP has been “a useless currency” that Larsen has allegedly used to exploit retail investors while misleading the public about its relevance in banking applications.

He ended his outburst by calling for “death” to XRP. In response, XRP supporter Bill Morgan expressed that Larson‘s donation was “misguided” but called Selkis’s comments “crazy.” He suggested that Selkis‘s call for the death of XRP amid the Ripple founder’s donation is unwarranted.

Likewise, X user Steven Boccone responded to Selkis‘s remarks, pointing out that while it’s reasonable to be annoyed at Larsen‘s political choices, it’s absurd to claim that this decision signals the end of XRP. Morgan agreed with Boccone, highlighting the increasing trend of people attacking others for their political preferences in the U.S.

Cryptos Growing Role in U.S. Elections

Larsens significant donations represent a broader shift in the crypto industrys involvement in U.S. elections, where super PACs like Future Forward have enabled unlimited contributions to influence political campaigns. Despite many in the crypto space leaning toward Republican candidates, Larsen stands out as a leading donor for Harris.

While pro-Trump crypto figures like Tyler and Cameron Winklevoss and Krakens Jesse Powell support Donald Trump, even Andreessen Horowitz co-founder Ben Horowitz plans to back Harris due to personal ties.