Ripple Founder Donates IDR 150 Billion XRP To Support Kamala Harris

Ripple founders donated Rp150 billion XRP to support Kamala Harris in the US election (Photo; Doc. Eldekdesonora)

JAKARTA - Chris Larsen, co-founder of Ripple Labs, has donated 10 million US Dollars (Rp150 billion) in XRP to support Kamala Harris' campaign in the upcoming United States presidential election.

This donation comes as Harris's campaign and related organizations set a record fundraising in the last quarter. Previously, Larsen had also donated 1 million US Dollars (around Rp. 15 billion) through the Democratic PAC "Future Forward" last August.

This move shows Larsen's strong support for Harris, especially regarding technology and crypto policies. In a tweet, Larsen expressed his belief that Harris would lead the United States in global technological innovation, including in the crypto sector. He stressed the importance of a new approach for the Democratic Party to future technological innovation.

Larsen's decision to donate in the form of the seventh largest crypto asset by market cap is a clear signal of support for pro-crypto in American politics.

Meanwhile, Ripple Labs CEO Brad Garlinghouse also confirmed in a tweet that while Ripple is involved in a legal feud with the Securities and Exchange Commission (SEC), they remain committed to supporting policies that encourage blockchain and crypto innovation, regardless of political parties.

Ripple has been involved in major legal cases filed by the SEC since 2020, on charges that the company is selling unregistered securities in the form of XRP. Although some of these allegations were dropped by courts, Ripple and the SEC are still involved in the appeal process.

Interestingly, Republican candidate Donald Trump is considered more friendly to the crypto industry, also receiving more donations from the industry. On the other hand, Harris's campaign is just starting to mention how they will support the crypto ecosystem in the United States.

Larsen's financial support for Harris reflects hopes that new leadership will support technological innovations, including crypto, amid increasingly fierce political competition.