- Ripple’s Chris Larsen supports Kamala Harris with $12 million, backing her pro-innovation stance.
- Larsen criticizes current crypto policies, saying they fail to protect U.S. consumers.
- He sees bipartisan support as essential to promote a pro-crypto regulatory environment.
- Larsen warns the U.S. risks losing tech dominance without stronger leadership in digital assets.
Ripple’s Chris Larsen is betting big on Kamala Harris, backing her with nearly $12 million in support.
In an interview with CNBC, Larsen notes that the focus should be on protecting consumers and encouraging leadership in digital assets within the United States. So, by supporting Harris, Larsen is rallying behind what he sees as a turning point for the crypto industry.
Ripple’s Chris Larsen Stand Against the “War on Crypto”
Larsen identifies a fundamental issue with the current administration’s handling of crypto regulation. “Everybody has realized that was a huge mistake,” he stated. According to Larsen, this “failed policy…didn’t protect consumers” and allowed companies like FTX to exploit Americans without adequate oversight. So, he believes that Washington’s hands-off approach paved the way for “sketchy foreign operators” to take advantage of US investors.
However, the bipartisan conversations shaping the next steps for digital asset policy motivate Larsen. “We want to encourage pro-digital asset political leaders,” he noted.
Why Ripple’s Chris Larsen Supporting Harris with a $12 Million Backing
Larsen’s $12 million donation, is aimed squarely at supporting Harris’s campaign. “We’re excited by her economic message,” he said. So, for Larsen, Harris’s Bay Area roots add to her credibility as a candidate who understands Silicon Valley’s impact on innovation. “She gets that,” stated.
In Larsen’s view, the Biden administration’s oversight of crypto has been a “disaster,” shaped too heavily by anti-business sentiments. So, he asserted that the Harris administration would shift from “class warfare” to a model where “American Champions dominate their industries.”
The Bigger Picture: A New Bipartisan Approach to Digital Assets
Larsen is also a major contributor to Fair Shake, a bipartisan super PAC that’s spent over $50 million to support crypto-friendly candidates in Congressional races across both sides of the aisle. Fair Shake is focused on Congressional seats. But with its absence from the presidential race, Larsen saw “kind of all the donations going on the Republican side,” prompting him to step in and support Harris to balance out the scales. “I think it’s good for the industry to have bipartisan support,” he said, and his donation to Harris aligns with Fair Shake’s vision of a pro-crypto Congress.
Furthermore, Larsen feels Fair Shake’s investment in several congressional races is a long-term strategy. “This isn’t just one cycle,” he said, urging the need to “show up consistently for the many years and decades ahead”. He acknowledges that this approach may not be popular with every Democrat. Especially for Fair Shake’s controversial spending in the Ohio Senate race to unseat Democratic incumbent Sherrod Brown in favor of Republican Bernie Moreno.
Ripple’s Legal Struggles and Thoughts on SEC Leadership
Ripple’s ongoing legal disputes with the SEC weigh on Larsen’s views. So, he describes current SEC Chair Gary Gensler as “the worst public servant that we’ve ever had in this country.”
He also avoided directly stating whether he expects Harris to replace the SEC chair, saying, “I’m not going to empower Gary Gensler to have any excuse…on what happens with his future.”
Ripple’s Chris Larsen: High Stakes for the US as a Global Leader in Digital Assets
For Larsen, the stakes are high. So, he warns that the US must continue to lead in “this new internet of value,” or risk losing dominance in the global tech economy. “You can’t have prosperity with your workers unless we dominate these key markets,” he argued.
The stakes of this election, Larsen contends, are not just about supporting digital assets but also about safeguarding American innovation. “We’re in a world of fast-moving technology like we’ve never seen before,” he Noted.
Conclusion
Chris Larsen’s support for Harris encourages American innovation and protects consumers in digital finance. His commitment goes beyond party lines. So, he supports bipartisan efforts that will build a regulatory environment where American crypto leaders can thrive.
So, his vision sees Harris as a better candidate for advancing US leadership in technology, an outcome he believes is vital for the future of digital assets.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
