Ripple Co-founder: Harris to Shift Biden’s Crypto Stance

Chris Larsen, the co-founder of Ripple, is confident that Kamala Harris will be able to address the “failed” approach to crypto that the Biden administration took

Chris Larsen provided an explanation for his decision to contribute more than $11.8 million to political action committees that are supporting Vice President Kamala Harris’s presidential campaign in an interview with CNBC that was published on October 29.

RippleXRP’s co-founder expressed his conviction that the Democratic candidate will adopt an entirely distinct strategy from Biden with respect to digital assets.

Larsen expressed his confidence that this approach will be entirely distinct from the unsuccessful policy implemented by the Biden administration with respect to digital assets.

He claimed that the Biden administration had “outsourced” the management of digital assets to Senator Elizabeth Warren, the politician who is most notorious for inciting anti-crypto sentiment.

Consequently, this resulted in the “war on crypto” that ultimately prevented the United States from becoming a global leader in the crypto industry.

“I believe that everyone has come to the realization that that was a significant error.” This has led to Singapore and London being granted leadership roles that the United States should have held.

Larsen stated, “It failed to safeguard consumers; rather, it enabled unscrupulous foreign operators such as FTX to exploit them.”

According to him, the Democratic candidate will be “pro-innovation” in contrast to Biden, whom he labeled “too anti-business,” as a result of conversations he has had with individuals who he believes will be in the Harris administration.

Larsen does acknowledge that a significant portion of the crypto industry is supporting Republican candidate Donald Trump in the presidential campaign as a result of his strong pro-crypto stance.

He is of the opinion that both parties have been advocating for pro-crypto policies during their campaigns, despite this.

“This bipartisan support for the United States has been observed, regardless of whether the Republican or Democratic party emerges victorious.” I believe that the crypto conflict has concluded. “We also aim to motivate political leaders who are pro-digital assets,” Larsen stated.

When asked whether he believes Harris will be able to unseat U.S. Securities and Exchange Commission Chairman Gary Gensler, as Trump had promised to pro-crypto supporters, he stated that the decision will be up to Harris.

Although he does refer to Gensler as “the worst public servant that we’ve ever had in this country,” he insisted that as a donor, he should not be involved in making such decisions.

Gensler is renowned for his uncompromising position on the crypto industry, consistently asserting that it is rife with speculation.

“I believe that Gary Gensler has been the most unreliable public servant in the history of this nation.” It has had an enormously detrimental impact on this nation. However, I believe that we must exercise great caution in this matter,” stated Larsen.

Rumors were circulating that Harris would nominate Gensler as Treasury Secretary if she wins the November election, according to a report by Washington Reporter in August (2024).

Despite the fact that these allegations have not been verified, they were sufficient to provoke a backlash within the crypto community.

In support of Kamala Harris in the U.S. presidential campaign, Larsen donated over $10 million in XRP to the Harris Victory Fund and Future Forward PAC on Oct. 21.

This donation, in conjunction with the $1 million donation he made to Future Forward USA earlier in the month, has established Larsen as one of the most significant donors from the crypto industry this election cycle.