Chris Larsen, co-founder of Ripple Labs, has made headlines with his $10 million donation in XRP to Vice President Kamala Harris’s 2024 presidential campaign. This contribution, made through the Future Forward super PAC, has drawn attention due to its significance and the growing role of cryptocurrency in politics.
Larsen announced the donation on Monday via X, emphasizing the need for the Democratic Party to adopt a new approach to technological innovation, particularly in cryptocurrency. He expressed confidence that Harris would ensure the U.S. maintains its leadership in global technology. This marks Larsen’s second donation to Harris’s campaign, following a $1 million XRP donation in August.
Mixed Reactions from the Crypto Community
The crypto community has reacted to Larsen’s huge donation with the following opinions regarding the consequences of large donations. Leading critics included Ryan Selkis, the founder of the crypto analytics firm Messari. Selkis didn’t hold back, attacked Larsen by saying that XRP is a useless currency, and manipulated retail investors into investing in XRP for banking. His criticism bubbled over when he declared that XRP should be killed, which earned him the ire of cryptocurrency enthusiasts.
In response, Bill Morgan, a well-known XRP advocate, stated that while Larsen’s donation might be “misguided,” Selkis’ reaction was “crazy.” Morgan descended on it by saying that Selkis’s call of the death of XRP was exaggerated, more so when occasioned by a political donation.
Similarly, X user Steven Boccone criticized Selkis’s outburst, noting that while it is reasonable to disagree with Larsen’s political actions, claiming this spells the end of XRP is an overreaction. Boccone’s statement touched on a broader issue—how political preferences increasingly lead to attacks within the crypto community. Morgan supported this view, emphasizing the need for more measured responses to political disagreements.
Larsen’s donation has stirred debate in the crypto community, revealing the tensions that arise when political support and financial contributions intersect in the evolving world of digital assets.
Final Thoughts
Chris Larsen’s $10 million XRP donation to Kamala Harris’s 2024 presidential campaign has sparked significant debate within the crypto community, highlighting the growing intersection between politics and cryptocurrency. While some, like Ryan Selkis of Messari, harshly criticized the donation and XRP itself, calling it a “useless” currency, others, such as XRP advocate Bill Morgan, viewed Selkis’ reaction as exaggerated.
The episode underscores how political contributions in the crypto space can lead to polarizing reactions, with differing views on whether these actions harm or support the evolving role of digital currencies in the political and financial landscape.
Article Source: 36crypto
