Ripple Executive Endorses Kamala Harris for President Amid Growing Crypto Industry Engagement in US Politics

In a notable development in the intersection of cryptocurrency and politics, Chris Larsen, co-founder and executive chairman of Ripple, has joined a group of prominent corporate leaders in endorsing Vice President Kamala Harris for the 2024 presidential election. This move highlights the increasing involvement of key figures from the crypto industry in shaping the upcoming US election.

According to a CNBC report from September 6, Larsen is among 88 corporate leaders who have signed a letter supporting Kamala Harris for president. The letter also includes notable signatories such as Aaron Levie, CEO of Box; Jeremy Stoppelman, CEO of Yelp; Michael Lynton, chairman of Snap; and James Murdoch, former CEO of 21st Century Fox. This endorsement from high-profile executives underscores the growing political engagement of the business community.

Former Ripple Board Member Joins Harris Campaign

The endorsement comes shortly after Gene Sperling, a former Ripple board member, left his position at the White House to join Kamala Harris’ presidential campaign in early August. Sperling, who has served as an economic adviser under Presidents Bill Clinton, Barack Obama, and Joe Biden, brings significant experience to the Harris campaign.

In addition to Sperling, David Plouffe, a former adviser to Binance and the crypto payments provider Alchemy Pay, has also joined Harris’ campaign, reflecting a broader trend of crypto industry professionals supporting political candidates.

As the US presidential election approaches, the potential impact on the cryptocurrency industry remains a topic of considerable speculation. Ripple CEO Brad Garlinghouse has suggested that key regulators, including SEC Chair Gary Gensler, may face changes regardless of the election outcome. This prediction underscores the uncertainty and high stakes surrounding regulatory policies for the crypto sector.

The crypto industry’s influence on the election is becoming increasingly evident. On August 5, a spokesperson for Harris’ campaign confirmed that the candidate could receive campaign donations in cryptocurrency through the Future Forward political action committee. This reflects a growing acceptance of crypto as a legitimate tool for political fundraising.

Other Crypto Executives Show Political Support

Ripple’s Chris Larsen is not the only crypto executive making headlines in the political arena. In June, Cathie Wood, CEO of ARK Invest and a vocal supporter of Bitcoin, publicly endorsed Donald Trump, citing her belief that he would be the best choice for the economy. Additionally, Cameron and Tyler Winklevoss, co-founders of the crypto exchange Gemini, have pledged $1 million in Bitcoin to Trump’s reelection campaign.

The increasing involvement of crypto executives in US politics signals a growing intersection between the cryptocurrency industry and political processes. As the 2024 presidential election approaches, the role of crypto and its key stakeholders in shaping policy and public opinion will likely continue to evolve. With significant figures from both sides of the political spectrum showing their support, the crypto industry’s influence on the upcoming election is set to be a prominent feature of the campaign landscape.