Ripple Co-founder Donates $1M in XRP to Kamala Harris

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Chris Larsen, Ripple Labs’ co-founder, is making headlines with a move that adds a new layer of political weight to the ongoing crypto conversation. 

Earlier today, Larsen donated one million dollars worth of Ripple’s XRP to the US presidential candidate, Kamala Harris. This substantial donation has sparked controversial discussions within the crypto community amidst Ripple’s ongoing lawsuit. 

Ripple Labs’ Legal Battle with the SEC 

Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) has been a notable event in the crypto industry. It started in 2020 when the SEC accused Ripple of selling unregistered securities by offering XRP to investors. 

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The core of the SEC’s argument is that XRP is security under U.S. law.  Therefore, Ripple should have registered it with the SEC before selling it. This lawsuit raised fundamental questions about how digital assets should be regulated.

In 2023, a ruling was made that some viewed as a partial victory for Ripple, but both Ripple and the SEC filed appeals, extending the legal saga until 2024. 

The SEC has also filed similar lawsuits against major cryptocurrency exchanges like Binance and Coinbase, accusing them of selling unregistered securities. 

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Crypto Industry Leaders Support Kamala Harris  

Larsen’s public endorsement came after he signed a letter supporting Harris and 88 other tech executives. In September, crypto leaders supported her campaign with a massive $100,000 fundraiser.  

In August, billionaire Mark Cuban suggested that Harris might become an unexpected crypto ally. In an interview, he believes that Harris may present a major shift in policy toward technological innovation and cryptocurrencies

Crypto Takes Center Stage in the US Politics

For the first time, crypto became a hot topic in U.S. politics. US Presidential candidates Donald Trump and Kamala Harris have been addressing crypto policies in their campaigns. 

As the race for the White House heats up, Donald Trump has also gained significant traction in the political and crypto worlds due to his strong, pro-crypto stance. 

Harris has also positioned herself as a tech-forward candidate, a change from her previous stance. Recently, she pledged to support innovative technologies like blockchains and AI.

Now, many in the crypto community view these presidential candidates as key allies who could propel the sector and the US economy to new heights. 

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