Ripple Co-founder Endorses Harris for President in a Signed Letter

09-06-2024 By: Deepak Choudhary

Ripple Co-Founder Backs Harris for President in Signed Letter

Ripple's Chris Larsen Backs Harris 2024

A significant development in the 2024 presidential race has emerged with Chris Larsen, a key executive at Ripple, endorsing Vice President Kamala Harris for president. Larsen, who is the co-founder and executive chairman of Ripple—the company behind the XRP cryptocurrency—joined other influential figures in backing Harris, according to a report by CNBC on September 6.

The endorsement came through a letter signed by 88 prominent corporate leaders, including notable names like Aaron Levie, CEO and co-founder of the cloud enterprise company Box; Jeremy Stoppelman, CEO of Yelp; Michael Lynton, chairman of Snap; and James Murdoch, the former CEO of 21st Century Fox, among others. The letter is seen as a significant boost for Harris’ campaign, reflecting a broad support base from various sectors.

This development follows the recent departure of Gene Sperling, a former board member at Ripple, from his role at the White House to join Harris’ presidential campaign. Sperling, who had been serving as an economic adviser under Presidents Bill Clinton, Barack Obama, and Joe Biden, joined Ripple’s board in 2015. His move to support Harris’ campaign highlights a growing trend of individuals with a background in cryptocurrency and finance aligning with political candidates.

Additionally, the political landscape surrounding cryptocurrency has seen other notable figures with crypto connections joining Harris' campaign. David Plouffe, a former adviser to Binance and the crypto payments provider Alchemy Pay, also recently joined Harris’ team. This trend underscores the increasing intersection of cryptocurrency and politics as the 2024 election approaches.

Ripple CEO Eyes Election's Crypto Impact

Ripple CEO Brad Garlinghouse has weighed in on the election's potential impact on the crypto industry. He has speculated that key regulatory figures, such as SEC Chair Gary Gensler, may have to step down regardless of the election's outcome. This prediction reflects the broader uncertainty within the crypto sector as it anticipates significant changes in regulatory leadership and policy direction depending on the election results.

The involvement of key figures from the cryptocurrency industry in the presidential campaign signals the growing importance of the sector in national politics. With the election drawing near, the role of crypto and its influencers continues to be a critical factor in shaping the political landscape and the future of regulatory policies affecting the industry.

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