Ripple co-founder and chairman Chris Larsen donated nearly $9.9 million to Future Forward in September, in addition to donating to the Harris Victory Fund, according to FEC data compiled by Breadcrumbs cryptocurrency markets and blockchain analyst James Delmore and independent agencies. of more than $800,000 as verified by CNBC.
Includes Larsen’s August contribution $1 million worth of XRP tokensThe billionaire has donated more than $11.8 million to PACs supporting Harris’ campaign, making him one of the cryptocurrency industry’s largest individual donors this cycle.
Larson, who has supported candidates from both parties over the past few years, told CNBC that his level of comfort with Harris stems from conversations he has had with people within the campaign and the lack of support he has received since she took over from President Joe Biden. What you see in the Vice President.
It helps that Harris is from the Bay Area.
“She knows people who have grown up in the innovation economy their whole lives,” Larson previously told CNBC. “So I think she fundamentally understands that, and I think the Biden people just didn’t notice, or maybe just didn’t. Making the connection between empowering workers and ensuring American champions dominate their industries.”
Larson’s affection for the Democratic candidate is not new. In February, he Highest individual donation given to Harris, $6,600 That happened about five months before she became the Democratic presidential nominee, Federal Election Commission documents show. At the same time, he donated $100,000 to the Harris Action Fund PAC.
Larson, 64, has a net worth of $3.1 billion, according to data ForbesMainly from his ownership of XRP and involvement in Ripple, which provides blockchain technology to financial services companies.
His industry has suddenly become prominent in political fundraising, albeit more in support of Republicans. Nearly half of all corporate money flowing into elections came from the cryptocurrency industry, According to a recent report From the nonprofit watchdog group Public Citizen.
Since early June, Trump PAC has raised approximately $7.5 million in cryptocurrency donations.
Fairshake, one of this year’s highest-spending PACs, is targeting close races in the House. In September, the committee donated nearly $29 million.
in, US$20 million The money went to two affiliated PACs: $15 million to Defend American Jobs PAC, a single-issue committee focused on cryptocurrency and blockchain policy that favors Republicans; Support progressive organizations that support Democrats.
Most of Fairshake’s remaining $8.8 million last month was spent on House races in New York, Nevada and California, according to FEC data compiled by cryptocurrency market and blockchain analyst James Delmore and verified by CNBC.
Several of these games are considered throw Depend on cook political report. The winners include Southern California Republicans David G. Valadao and Michael Garcia, who are competing fiercely to retain their seats. They received $1.3 million and $1 million respectively.
Political donations from or in support of the cryptocurrency industry reached approximately $190 million in the 2024 cycle, and crypto groups have spent more than $130 million in cash so far on congressional races in this year’s elections, including primaries.
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