Ripple co-founder Larsen donates US$10 million in XRP to Harris

Chris Larsen, co-founder of Ripple, has made another major contribution to the campaign of Democratic presidential candidate Kamala Harris.

Having previously donated $1.75 million, he has now donated another $10 million in XRP. This now makes the 64-year-old Larsen the largest individual crypto backer for Harris.

On X, Larsen stated that he believes Democrats need a "new approach to technological innovation, including crypto." He believes Harris "will ensure that American technology remains dominant globally."

However, his decision raises questions within the crypto community, as Donald Trump is considered the more crypto-friendly candidate. Trump has even launched his own project, World Liberty Financial, and expressed his support for the industry.

In comparison, companies such as Coinbase, Andreessen Horowitz and Ripple together contributed about $169 million from the crypto sector to the campaigns of both candidates through the Super-PAC Fairshake.

Ripple CEO Brad Garlinghouse responded to Larsen's donation, "I respect Chris's (and everyone else's!) right to support whoever they feel is best suited to lead the US. We need to stop this administration's misguided war on crypto immediately."

Garlinghouse also emphasized that Ripple will continue to work with both Democrats and Republicans: "It's not about partisan politics, it's about policies that promote blockchain and crypto innovations."

On the crypto betting site Polymarket, the position of speculators has recently shifted in favor of Trump, who now stands at about 64 percent. However, allegations of manipulation have also surfaced on the site.