With cryptocurrencies becoming a prominent topic in the 2024 U.S. elections, Harris has pledged to support innovative technologies like AI and digital assets, while Republican rival Donald Trump promises to protect the crypto industry from regulatory crackdowns. Meanwhile, Larsen's Ripple continues its legal battle with the U.S. Securities and Exchange Commission (SEC), with both sides appealing a previous ruling from August. This donation underscores the growing role of crypto in U.S. political campaigns and highlights Larsen's public endorsement of Harris as a pro-innovation candidate.
There is major social controversy around this donation however, and has been met with backlash from crypto enthusiasts who feel the Biden-Harris administration and their appointed Chief of the SEC Gary Gensler, have unfairly targeted the crypto industry and Ripple labs in particular.