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Ripple Co-Founder Chris Larsen Backs Kamala Harris for Pro-Crypto Stance
Ripple co-founder, Chris Larsen, expressed confidence that Kamala Harris could rectify what he perceives as the Biden administration’s inadequate approach to cryptocurrency. In a recent interview, Larsen explained his significant financial support for Vice President Kamala Harris’s presidential campaign, contributing over $11.8 million to political action committees backing her.
Larsen believes Harris will adopt a markedly different strategy towards digital assets compared to President Biden.
“I’m just really, really confident that this is going to be a completely different approach than the failed policy in the Biden administration when it comes to digital asset,”
said Larsen.
Criticism of Biden Administration’s Crypto Policies
Larsen criticized the current administration’s handling of digital assets, accusing it of outsourcing the responsibility to Senator Elizabeth Warren, known for her strong anti-crypto stance. According to Larsen, this led to a “war on crypto” that hindered America’s leadership in the global crypto industry.
“I think everybody has realized that was a huge mistake. That just resulted in giving leadership to Singapore and London, which should have been in the US. It didn’t protect consumers, it allowed sketchy foreign operators like FTX to rip off consumers,”
Larsen added.
Pro-Innovation Approach
Based on his discussions with potential Harris administration figures, Larsen is optimistic about a pro-innovation stance towards digital assets. He contrasted this with Biden’s approach, which he described as “too anti-business.”
Larsen acknowledged that a significant portion of the crypto industry is backing Republican candidate Donald Trump due to his strong pro-crypto policies. Nonetheless, he emphasized bipartisan support for pro-digital asset policies.
“We’ve seen this bi-partisan support for whomever wins the U.S, whether it’s the Republicans or the Democrats. I think the war on crypto is over. And we want to encourage pro-digital assets political leaders,”
said Larsen.
SEC Chairman Gary Gensler
When asked about the potential replacement of U.S. Securities and Exchange Commission Chairman Gary Gensler, as Trump promised, Larsen deferred the decision to Harris. He criticized Gensler, describing him as
“the worst public servant that we’ve ever had in this country,”
due to his stringent stance on the crypto industry.
Despite rumors that Harris might nominate Gensler as Treasury Secretary if she wins, these speculations have not been confirmed and have sparked backlash within the crypto community.
Significant Contributions to Harris Campaign
On Oct. 21, Larsen donated over $10 million worth of XRP to Future Forward PAC and the Harris Victory Fund in support of Kamala Harris’s presidential campaign. This recent donation, along with a $1 million donation earlier in the month, positions Larsen as one of the largest crypto industry donors this election cycle.
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