Key insights:
- Harris’ campaign receives crypto donations via the Future Forward PAC, highlighting growing crypto influence in politics.
- Gene Sperling, a former Ripple board member, left the White House to support Harris’ 2024 campaign.
- Ripple co-founder Chris Larsen is among 88 business leaders endorsing Kamala Harris for the 2024 presidential race.
Chris Larsen, co-founder and executive chairman of Ripple, has endorsed U.S. Vice President Kamala Harris in her presidential run. Larsen is one of 88 prominent business leaders to back Harris, according to a September 6 report by CNBC. Other notable figures who signed the letter include 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 highlights the increasing involvement of tech and cryptocurrency leaders in the U.S. political landscape ahead of the 2024 election.
88 Corporate Leaders including Rupert Murdoch’s son Endorse Kamala Harris
The signers include former 21st Century Fox CEO James Murdoch, Snap Chairman Michael Lynton, Yelp boss Jeremy Stoppelman and Ripple co-founder Chris Larsen.
If the Democratic nominee wins the White… pic.twitter.com/tZAvKKxsVi
— Oli London (@OliLondonTV) September 6, 2024
Ripple’s Growing Political Connections
Chris Larsen’s endorsement of Kamala Harris adds to the growing list of Ripple-affiliated executives involved in the vice president’s campaign. Gene Sperling, a former Ripple board member, joined Harris’ presidential team after leaving his role as an economic adviser in the Biden administration.
Moreover, Sperling, who has also served under Presidents Bill Clinton and Barack Obama, has been associated with Ripple since 2015. His move into the political arena highlights the increasing political activity among Ripple executives and other leaders in the cryptocurrency industry.
In addition to Sperling, David Plouffe, a former adviser to Binance and crypto payments firm Alchemy Pay, has also joined Harris’ campaign team. Plouffe, best known for managing Barack Obama’s successful presidential campaigns, brings extensive political strategy experience and knowledge of the digital finance space. His involvement, alongside other figures with crypto ties, signals that Harris’ campaign could potentially focus more on cryptocurrency and blockchain regulation.
Crypto and the 2024 U.S. Election
The crypto industry is closely watching the U.S. presidential election in 2024, particularly due to regulatory uncertainties. Ripple CEO Brad Garlinghouse has stated that key figures at the U.S. Securities and Exchange Commission (SEC), such as Chair Gary Gensler, may step down regardless of the election’s outcome.
The SEC’s stance on digital assets has been a major concern for the industry, especially given the commission’s legal battle with Ripple over the classification of XRP as a security. As the election approaches, the involvement of crypto executives in political campaigns underscores the importance of clear regulatory frameworks for the future of digital currencies.
Both major political parties have included cryptocurrency regulation in their platforms, reflecting the industry’s growing significance in the U.S. economy. Candidates’ positions on cryptocurrency are expected to influence their ability to gain support from the tech and business communities and from a rising number of voters interested in digital finance.
Silicon Valley Leaders Back Harris
Larsen’s endorsement aligns him with other prominent figures from Silicon Valley who have publicly supported Kamala Harris for president. Mark Cuban, entrepreneur and investor, has been an outspoken supporter of Harris and has frequently engaged with her campaign team on topics like tax reform and business policy.
NEW: Mark Cuban gets flustered & says "no" 16 times after CNBC host Rebecca Quick said Kamala is just telling people what they want to hear.
"No, no, no, no, no, no, no, no, no, no, no, no, no, no, no," Cuban said.
The "no" comment came after Cuban said Harris' plan to tax… pic.twitter.com/6B1WeqsqvC
— Collin Rugg (@CollinRugg) September 5, 2024
Cuban, who initially backed Donald Trump in the past, has since shifted his support to Harris, citing her pro-business policies and focus on economic growth.Other tech executives, such as Ron Conway, founder of SV Angel, and former LinkedIn CEO Reid Hoffman, have also expressed their backing for Harris.
This growing support from Silicon Valley reflects Harris’ appeal to the tech and business communities, particularly as these sectors face new challenges related to regulation, taxation, and innovation. The involvement of cryptocurrency leaders like Larsen adds another dimension to her campaign’s support base, as the digital finance sector continues to grow in influence.
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